Account balance workflow and adjustments via the Trial Balance screen

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The following workflow follows the path of the client's account balances in the application from import or manual entry, calculation of adjusting entries in the Trial Balance screen, entry of tax code adjustments, preparation of client data for transfer to UltraTax CS, closing the year or advancing and closing the period, and scanning and storing client data. Also, you can create an audit-based engagement that enables you to link to the trial balance when you are working in the field.

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Change/close the period
Change/close the period
Create the
engagement
binder and
add audit-related
workpapers
for the client.
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Scan, print, and store
finished work
for the client.
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Client provides data
Client provides data
Import client data
Import client data
Enter transactions
manually
Enter transactions<div>manually</div>
Client provides
data in hardcopy
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Client provides
data electronically
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Create and assign account groupings
Create and assign account groupings
Yes
Yes
Do you calculate adjusting entries?
Do you calculate adjusting entries?
Review and edit account information
Review and edit account information
Add Tickmarks
Add Tickmarks
Enter adjusting
entries
Enter adjusting<div>entries</div>
Import from other applications
Import from other applications
Prepare reports and/or financial statements
Prepare reports and/or financial statements
No
No
Are you linking to the
Trial Balance data
in an Audit engagement?
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No
No
No
No
Yes
Yes
Yes
Yes
No
No
Do you prepare
tax returns for
the client?
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Enter tax
adjustments
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Import balances into UltraTax CS
Import balances into UltraTax CS
Are you closing
the year?
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Yes
Yes
No
No
Close to next year
Close to next year

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