Using the current year conversion to proforma converted data to next year's version of UltraTax CS

Alerts and notices

The current year conversion allows you to start processing next year's returns in the latest version of UltraTax CS. This is the recommended conversion option because you will be working with the most accurate and current conversion information.

Process

Follow these steps to begin processing returns in the latest version of UltraTax CS.

  1. Convert all returns from the current year competitor. 
  2. Review the post conversion document for data that converts and data that does not convert.
  3. Proforma the converted data to the latest version of UltraTax CS.
  4. Process the converted data in the latest version of UltraTax CS.

Pros, cons, and best practices

Pros

You will be working with the most accurate and current conversion information.

You do not need to spend time reproducing or re-keying old information to duplicate an already completed return.

You will be able to view and access converted values like carryovers and two-year comparison information.

Cons

You will have a small window of time to learn UltraTax CS navigation and data entry.

Best practices

If both next year's version of UltraTax CS and the current year conversion are available, use the current year conversion to convert your data. To begin processing next year's returns, proforma the converted data to next year's version of UltraTax CS.

Related topic: Converting to UltraTax CS - Which conversion do I use?