Trial Balance /Tax Basis

Trial balance ending balances are managed in the Trial Balance/Tax Basis screen under Data Input > Federal in the Provision and Estimated Payments datasets and under Data Input > Actual > Federal in an Interim dataset. This area populates the ending trial balance amounts and allows you to make book adjustments, tax reclasses, and other adjustments. This can ultimately be used as the starting point for the tax basis balance sheet. Typically, the trial balance data is bridged into the system from an extract of the general ledger.

To import information to the Trial Balance/Tax Basis screen, complete the appropriate fields on the #UTBBS# Unit Tax Basis BalSheet sheet in the Import Numbers template. For more information on importing, refer to the Importing Templates documentation.

Screen Entry Fields

Code - Description

The code and description are established by an Administrator for the trial balance sublines.

Tag

The tag letter identifies each line entered in the originating source.

Class

The class identifies each line entered in the originating source.

Subclass

The subclass identifies each line description entered in the originating source. You can select Next Value as the subclass and the application generates the next "Code" number for the selected Code, Type and Class.

Ending Book Balance

Populates the trial balance ending balance data for the period.

Book Adjustments: Book adjustments to the ending balances can be made to generate the adjusted ending balances.

Tax Reclass

Tax reclasses can be made to the adjusted ending balances.

Other Adjustments

Other adjustments can be made to the adjusted ending balances.