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Federal input screens

Screen SF - Settlement Fund (1120)

Overview

For more information, see How do I generate Form 1120-SF.

General Information

Use this section to enter fund administrator information.
Enter the social security number of the fund administrator on the SF Screen. This will be used to validate the fund administrator’s signature when electronically signing the engagement letter, the consent letter, Form 114a, and the Bank Account Verification.

Assets

Enter the year-end cash balance. The out-of-balance adjustment is netted against this field if you leave the
Liabilities
 field blank.

Liabilities and Fund Balance

Unless you enter a zero in the
Maximum amount for Schedule L rounding
 field, the calculated out-of-balance adjustment is added to the amount you enter in this field. If this field is blank, the out-of-balance adjustment nets against the amount you enter in the
Cash
 field in the Assets section.
In this field, enter an out-of-balance threshold. An out-of-balance adjustment is completed up to the amount you specify. It does not complete an adjustment if Schedule L is out of balance by more than the amount in this field.
If you do not want any automatic adjustment, enter
0
 (zero), or leave this field blank.
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