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Exporting to CCH ProSystem fx Tax

This topic applies to imports from CCH ProSystem fx Tax 6.1 or lower. To import from a higher version, contact CaseWare Support to obtain a copy of the Conversion Guide for ProSystems fx.

  • Enter the relevant codes in the Tax Code column in the Tax setup in the Working Trial Balance.

    After a year-end close, review the tax codes assigned for any now obsolete tax codes, so that they can be reassigned to active tax codes instead. Working Papers updates the program for available tax codes every year.

  • Set up the tax export for CCH ProSystem fx Tax
  • There were no changes to tax codes in the 2016 tax year.

Exporting from Working Papers

  1. Open the Working Papers client file from which you would like to export.

  2. On the Engagement tab, in the Data Group, click Export | Tax Software.... The Export to Tax Software dialog will open.

  3. In the Tax Software drop-down, select CCH ProSystem fx Tax.
  4. Complete the remaining fields of the dialog. >>Quick Reference
  5. Click OK to process the export. If there are any errors or problems during export, an export log file appears. Review the log and resolve the issues before rerunning the export.

Results

Working Papers creates the export file COMPFILE.txt, which can be imported into CCH ProSystem fx Tax.

Notes

  • The parent company name and address will be included for all tax exports. If you are exporting entity-specific data from a consolidated file, you will need to modify the company name and address in the tax package once the import to the tax package is complete.
  • When exporting the Book Income amount, the Net Income before tax adjustments is exported. This affects Line 1, Schedule M1 "Net Income per Books", and Schedule L "Returned Earnings Unappropriated" amounts on the tax return.
  • The M3 Code column in the Working Trial Balance is not normally used for CCH ProSystem fx Tax. Working Papers exports to CCH ProSystem fx Tax, which then updates the line in the M3 schedule associated with a tax export code. The M3 line associated with a tax export code may be modified by clicking Modify in the Tax Code List dialog. You can export directly to the M3 schedule, but the recommended method of updating the M3 schedule is via regular tax export codes.
  • After exporting the trial balance to CCH ProSystem FX the other deductions description may not appear correct if you changed the name. You can change the tax code description in Working Papers as a fix.
  • When the import is complete, the user may receive a diagnostic error message regarding the net income. This error appears because CCH calculates the Net Income on the import in a different manner than Working Papers does prior to the export. In order to stop getting the error message on import, remove the override from Form L-3 Box 30 in CCH.
  • After exporting the trial balance to CCH ProSystem FX the other deductions description may not appear correct if you changed the name. You can change the tax code description in Working Papers as a fix.