Tax Codes screen or Firm Tax Codes screen

Alerts and notices

Workpapers CS provides a set of predefined tax codes that can be assigned to GL accounts. Reports can be generated that provide totals for each code that also serve as bridge amounts for integration with tax applications.

Use the Firm Tax Code screen and the Tax Code screen to add, edit, or delete custom tax codes, which can then be assigned to accounts for grouping into a single line item for integration with other tax applications and to display on various Workpapers CS reports. Custom tax codes may also be added on-the-fly to lists in which tax codes or M-3 tax codes are selected.

You can set up tax codes at a client level, or you can set them up at a firm (global) level.

To set up firm-level (global) custom tax codes, choose Setup > Firm Information > Firm Tax Codes and select the entity type from the drop-down list in the first field.

To add or edit tax code descriptions for a custom tax code, choose Setup > Tax codes and then click the Add or Edit button.

Note: After you add the tax code information, the Subcode field becomes unavailable (grayed).

Special information

  • When you create a new client record, the firm tax codes (including subcodes) are available at the client level (Setup > Tax Codes).
  • Any new custom tax codes that you add at the firm level are not available to existing clients. If you convert client data from Creative Solutions Accounting (CSA) to Workpapers CS, the application considers those clients to be existing clients, so the custom firm tax codes will not be available to those clients.
  • You cannot change the predefined Standard, Puerto Rico, or M-3 tax codes that are already set up in the application, but you can create custom tax codes for these items at both the client and global levels.
  • The list of tax codes includes all UltraTax CS codes including M-3 codes and user-defined custom tax codes.
  • Tax codes 88888 (Memo code - Include on reports) and 99999 (Memo code - Exclude from reports) are also included in the list of tax codes. These tax codes do not integrate with other tax applications. (Note: Tax code units should not be assigned to tax codes 88888 or 99999.)
  • You cannot delete a custom tax code if it is assigned to an account or some other entity.
  • Click the Delete button or press Alt+L to delete a custom code. The application prompts you if the item cannot be deleted.
  • When adding custom tax codes on-the-fly, the tax codes must be formatted as follows: xxx-xx. The first three characters must be a valid, existing tax code and the final two characters can be any alphanumeric characters (for example, 213-01 or 213-IN).

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Fields & buttons

Select the applicable entity type for the client - 1120, 1120S, 1065, 1040, 1041, 990, 990PF, 5500, 1120 Puerto Rico, 1120S Puerto Rico, 1065 Puerto Rico. The application uses the entity type to determine which tax codes will be available to be assigned in the Setup > Chart of Accounts screen.

Select the applicable tax code for the client - all non-M-3 tax codes and all M-3 tax codes - for the selected entity type.

Enter a unique subcode value of up to two characters per tax code. The same subcode can be used for multiple tax codes.

Enter an optional description that is no more than 50 alphanumeric characters in length.

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Related topics

Tax code assignments for GL accounts

Adding custom tax codes

Assigning tax codes to multiple accounts

Examples of tax code adjustment entries

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