Using the current year conversion to restore converted data into the current version of UltraTax CS

Alerts and notices

This conversion option enables you to use the current year conversion and restore returns to the current year of UltraTax CS. Restore only a few returns to the current version of UltraTax CS so that you can familiarize yourself with UltraTax CS navigation and data entry. The remaining converted returns should be proforma'd to next year's version of UltraTax CS so you can begin processing next  year's return. This option allows you to take advantage of the less busy time prior to tax season to become familiar with UltraTax CS navigation and data entry.

Be sure to mark the Suppress conversion amounts checkbox in File > Client Properties. Otherwise, any changes you made in the return will not proforma.

Process

Follow these steps to review and verify current year returns in the current year 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. Restore the converted data to the current year of UltraTax CS.
  4. Review and verify the converted data, and perform the necessary data entry to duplicate the current year return.

Pros, cons, and best practices

Pros

You can familiarize yourself with UltraTax CS navigation and data entry before the tax season rush begins.

Cons

Significant data entry may be required to exactly duplicate a current year return as found in the current year competitor's software. 

Certain values that were calculated by the competitor's software may not be visible or accessible when the converted data is restored to UltraTax CS. A full listing of such values can be found in the post conversion document for the competitor.

Best practices

If next year's version of UltraTax CS is not yet available, use this conversion option to convert all of your clients. Restore only a handful of clients to the current version of UltraTax CS so that you can familiarize yourself with UltraTax CS navigation and data entry. When next year's version of UltraTax CS is released, proforma the remaining converted clients to next year's version of UltraTax CS. 

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