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Trial balance, TRCs, and forms

Set up preliminary balances

When you first open Trial Balance, the Preliminary Balances screen appears.
  1. On the Preliminary balance screen, select
    Import
     on the menu bar to import the chart of accounts.
  2. This opens the Import balances screen. You can drag a file to the open area, or select
    Browse for File
     to import a file.
  3. Select a file to export from the prior year’s Trial Balance Bridge.
  4. After you attach the file, click
    Next
     on the Import balances screen. The filename of the attached file and its file size appear in the file area beneath
    Browse for File
    .
  5. You can also import balances by using a template. You can create a new template or use an existing template for mapping.
  6. Map the column with the correct value (for example, Account number, Account description, etc.).
    1. ACCT_NUM *Account Number
    2. ACCT_DESC *Account Description
    3. TRC *TRC
    4. TCC *TCC
    5. TCC caption (description) TCC CAPTION
    6. PC number Activity number (1065 and 1120S) only
    7. PC description Activity description (1065 and 1120S) only
    8. PY_BAL à Prior Year account balance
    9. CY_BAL Account balance
    10.   MRC MRC
    11. MCC MCC
    12. MCC CAPTION (description) MCC Caption
  7. Select
    Save
     to keep your mapping.
  8. After the mapping is saved, select
    Import
    .
  9. Trial Balance will validate the import file and list any errors. If the Excel file is incorrect, it will show Import completed with errors on the top of the screen and list all errors on the screen.
  10. If you are using an audit package, you must perform the import in the preliminary balance.

This article applies to:

  • PRODUCT: ONESOURCE Income Tax Express RS
  • Return type: 1120 Corporation,1065 Partnership
  • Subject: Trial balance

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