Working trial balance
Working Trial Balance (WTB) enables you to review your tax information in an accounting working trial balance format and displays prior year historical balances for comparison. The WTB shows the flow of the amounts on the books to the amounts on your tax return in a spreadsheet format conveniently on one page.
You can view the trial balance either by looking at all the information by the list of TRCs or looking at it by account numbert. You can also view underlying levels of detail by expanding lines on the WTB.
The following table shows the available tax return or schedule you can view.
Tax return | Schedules | Tax return | Schedules |
|---|---|---|---|
1065 | 1065 Page 1 1125-A Cost of Goods Sold Schedule K Schedule L Schedule M-1 By TRC By Account | 1120PC | Schedule A Taxable Income Schedule C Dividends Balance Sheet By TRC By Account |
1120 | Income Statement 1125-A Cost of Goods Sold Schedule C Dividends Balance Sheet Schedule M-1 By TRC By Account | 1120S | 1120S Page 1 1125-A Cost of Goods Sold Schedule K Schedule L Schedule M-1 By TRC By Account |
1120L | Page 1 Taxable Income Schedule A Dividends Schedule B Investment Income Schedule F Reserves Schedule L By TRC By Account | ||
You can also review Schedule M-2 line items and the chart of tax combination codes with the working trial balance.
Compute
After you finish reviewing the WTB, go to the Compute screen to transfer the amounts in the trial balance into the tax application.
