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Integrate with CS Professional Suite

Import account balances into UltraTax CS

The tax code assignments that you make in
Workpapers CS
 for specific general ledger accounts lets UltraTax CS to transfer account balances to the proper lines on the proper tax forms.
Take these steps to transfer a client's general ledger account balances from
Workpapers CS
 to UltraTax CS.

Before you begin

Before transferring account balances from
Workpapers CS
 to UltraTax CS, print the following reports.
  • Tax Code Groupings
  • Tax Code Worksheet
  • Tax Reconciliation Worksheet

Steps in
Workpapers CS

Assign the proper tax codes for the selected client. You can enter these codes in either of the following screens.
  • In the Tax information section of the
    Setup
    ,
    Chart of Accounts
     screen.
  • In the data-entry table in the
    Actions
    ,
    Enter Trial Balance
     screen.
Make sure that the entity types (1040, 1120 or 1065, 1041, 990, and 5500) are the same in
Workpapers CS
 and UltraTax CS.
For multiple-unit entities, select the unit to designate the input screen location when transferring data to your tax application.
For example, if you're transferring utilities expenses for a farm to the UltraTax CS Farm input screen and the tax code for the 1st unit's utilities is 632 and the unit is 1, you'd transfer the 2nd unit's utilities with a tax code of 632 and a unit of 2.
If the Trial Balance grid doesn't include a Tax Code column, select the
View Maintenance
 link, then add a Tax Code column. Select the
Include Unit Column
 checkbox if you want to include Units in the view for the trial balance.

Steps in UltraTax CS

  1. In UltraTax CS, select
    Setup
    , then
    User Preferences
    .
  2. Select the
    File Locations
     tab.
  3. Select
    CS Accounting Products
    , then verify the location for the
    Workpapers CS
     client data file type.
    • If it's not the location where your
      Workpapers CS
       client data is stored, select
      Modify Location
      . Go to the correct location, select
      OK
      , then select
      OK
       again to close the window.
  4. Open the UltraTax CS client, select
    Utilities
    , then select
    Workpapers CS
     (Import)
    .
  5. In the Clients available to transfer pane, select the clients whose account balances you want to import into UltraTax CS, then choose
    Select
     to move them to the Clients to transfer pane.
  6. Select your options in the Data to import section, then select
    Import
    .
  7. Select
    Done
     when the import is complete.

Best practices for tax codes

UltraTax CS offers flexible and detailed tracking of assets, capital gains, retained earnings/partner's capital along with other fund balances. Because of this, it's best practice to exclude the following tax codes areas when importing from
Workpapers CS
 into UltraTax CS:
  • All entities:
    • Depreciation amounts
    • Capital gains - specifically book figures for the sales of capital assets
    • Section 179 expenses
  • 1120/1120S - Retained earnings
  • 1065 - Partners capital account
  • 990 - Unrestricted fund balances, accumulated income, other funds

This article applies to:

  • Product: Workpapers CS
  • Subject: Integration

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