Tax worksheet

You can access the Tax worksheet from your file's Trial Balance. Use this worksheet to link tax codes (for tax software) to the chart of accounts in the Working Papers file. After you assign tax codes to the chart of accounts, you can export the tax balances to various tax packages for more efficient tax return filing.

To access the Tax worksheet, on the ribbon, click Account | Trial Balance. In the Trial Balance, click the Tax tab.

Note: For USA tax, you can customize Working Papers to use predefined tax codes for each tax entity type. Set up the tax export codes in the Mapping Number Setup.

Column Description
Entity Select the entity to which the account belongs. This column will only display in a consolidated file.
Account No Represents the Account Number, which can be up to 40 alphanumeric or numeric characters long. Account numbers must be unique and cannot be duplicated.

Represents the Account description. Click ... to enter an extended description for the account. This description does not appear on printed documents. It is available for linking to alphanumeric cells in CaseView documents using the Linkage dialog.

Tax Export Code

Click the drop-down arrow to access a list of tax codes to assign the account. You can also complete the Tax linkage by clicking the Tax tab in the Working Trial Balance.

During update to the latest version of Working Papers, a prefix "DEL" is assigned to any tax codes that are no longer used. Any outdated codes will not be exported and should be updated or deleted.

M3 Code (USA only)

Click the drop-down arrow to access a list of assign M3 codes for US tax entities (excluding Non-Profit) to the chosen account number.

Note: Account balances in the Trial Balance that are assigned M3 Codes are exported to tax software, except for CCH ProSystem fx.

Tax Entity Displays the tax entity that has been assigned to the consolidated entity for the selected account. This column is read-only. To change a consolidated entity's tax entity, access the Entity Properties dialog and click Setting.
GIFI (Canada only)

If a GIFI code has not been automatically entered, type or select the applicable GIFI code for the account. Click the drop-down arrow to select a GIFI code from a list.

Note: Although mapping is not necessary to use the GIFI, using the Mapping database will cut a lot of work. For example, if this account is assigned to a map number, and the map numbers have been assigned to codes in the GIFI codes database, then the GIFI codes can be automatically assigned to all accounts in the chart of accounts with one button click.

L/S Displays the leadsheet number to which the account is assigned.
Book Balance Displays the "before tax" balances of the account.