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Trial balance

Engagement-specific tax subcodes

The
Setup
, then
Tax codes
 screen is a feature available in the trial balance of an engagement.
You can access it when an engagement has a tax vendor and entity selected in the engagement properties, and the user has the necessary permissions to modify tax codes.
note
All engagements created prior to August 1 2024 have been updated to include the subcodes set up at the firm level tax codes. This means that any subcodes configured at the firm level have been copied to the engagement-specific level.

Functionality

This screen lets users manage tax subcodes that are utilized when generating tax code reports or integrating with tax software vendors.
These subcodes help in grouping multiple accounts together in the schedule detail, using the description of the subcode instead of the account descriptions for details.

Initial tax codes

When an engagement is created, the initial tax codes in this screen are populated from the template in the
Setup
, then
Tax Codes
 screen at the firm level. Any tax codes deleted or added in this screen are specific to the engagement.

Rolling forward an engagement

When rolling forward an engagement, the tax codes are copied to the new engagement from the source engagement. The firm level tax subcodes are not used in this process.

Import tax subcodes

The
Import
 button in this screen lets users import tax subcodes from various sources:
  • Spreadsheet
  • Another engagement
  • Firm level
Importing tax subcodes works as an append operation, adding to the existing list without modifying or deleting any existing codes.
If new subcodes are set up at the firm level, they won’t automatically transfer to the engagement-specific level. Either add them manually at the engagement-specific level or use the
Import
 button in the engagement-specific level window to import them from the firm level.

Change vendor or entity

Changing the vendor or entity in the engagement properties will erase all the tax subcodes at the engagement level and replace them with the firm level tax subcodes.

Mapping

At the firm level under
Setup
Groupings
Mapping
Tax Codes
, make sure that any assigned subcodes are also set up at the engagement-specific level. If the same subcodes are not configured at both levels, the mapping won’t function correctly.

This article applies to:

  • Product: Engagement Manager
  • Subject: Trial balance

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