Tax code assignments for GL accounts

Alerts and notices

The tax code assignments that you make in Accounting CS for specific general ledger accounts enable your tax application (UltraTax CS) to carry account balances to the proper lines on the appropriate tax forms.

  • Options available in the drop-down list for the Tax code field in the Setup > Chart of Accounts screen in Accounting CS are based on the client's entity type.
  • The application includes new tax codes from time to time in response to federal tax form changes. However, you do not need to update existing tax code assignments in response to tax form changes because UltraTax CS handles such changes automatically.
  • When you close to the next fiscal year, the application carries forward tax codes the first time you move into that particular year. After that, the tax codes for different years are independent of each other. However, if you move forward to a new year in which the tax codes have not yet been released (for example, 20xy), the application uses tax codes for the latest year available to generate assignments in the database. If you move back to the prior year (for example, 20xx), change an assignment, and then move forward again (to 20xy), the application will not carry forward assignments made in the prior year (20xx) because they have already been assigned in new year.

PDF guides for tax code assignments

The following PDFs are provided to guide users who will transfer client account balances to UltraTax CS. You can view these guides using Adobe Reader, which enables you to search on keywords and to print individual pages, sections, or entire guides.

Note: If you have difficulty opening a PDF guide, you might need to download and install the latest version of Adobe Reader from the Download page of the Adobe website

Related topics

Tax codes or Firm tax codes

Standard account mappings

Adding custom tax codes

Entering tax code adjustments

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