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Create a chart of adjustments

There are five types of adjustments:
  • Book
    : Adjusts the preliminary book amount. The adjusted book balance is the value after posting book adjustments.
  • Reclass
    : Moves amounts from one account to another without affecting net income per books. You use this type to achieve proper presentation of amounts in a tax return or workpaper.
  • Tax
    : Produces book/tax reconciling differences shown on various forms.
  • AMT
    : AMT adjustments and tax preference items.
  • ACE
    : ACE adjustments and tax preference items.
Each Chart of Adjustment is independent of any entity or tax function. You can have separate adjustment charts for different domestic and international adjusting entries if needed. Typically, fewer adjusting entries are used in international entities.
  1. Go to
    Charts
    ,
    Federal
    , and then
    Accounts and Adjustments
    .
  2. Select a year.
  3. Select
    Adjustments
    .
  4. Select the type of adjustment chart.
  5. Select the chart from the dropdown.
  6. Use the menu to add
    adjustments, import, export, print
     or make the chart
    read-only
    .
  7. In the
    Actions
     column, select to delete. If you delete before selecting Save, the delete icon turns into an undo and you can reverse the change. Select to edit charts or accounts.
  8. Select the Automatic Adjustments icon to edit the automatic adjustment.
  9. Select the ellipses menu, and then
    New Chart
    .
  10. Select the adjustment type and enter the name of the new chart.
  11. Select a template (optional).
  12. Select
    Save
    .

This article applies to:

  • Product: ONESOURCE Income Tax
  • Subject: Chart of Accounts
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