Federal Adjustment Workpaper
This feature gives you the ability to enter or review adjustment data in a columnar format by company workpaper for multiple binders. Use this workpaper to enter or review your adjustment data without opening a binder. Once you save the data in this workpaper it is also saved in the
Adjustments
area inside a binder and vice-versa.- Before you use the Federal Adjustment Workpaper, complete the Binder Identification process or create a binder group that has the needed binders assigned to it.
- On the menu bar, selectWorkpapers.
- SelectFederal Adjustment Workpaper.
- Select the following:
- Tax Year.
- Federal Chart of Accounts from the dropdown.
- Chart of Adjustments and the type of adjustment (Book, Reclass, Tax)
- Return Type.
- Binders by: either Binder Identification or Binder Group.
- ClickLoad.
- You will see the adjustments as rows and the binders will be the columns. Each binder column, displays the Entity Number, Company Name, and Binder name. Consolidated binders are not displayed and binders that are "Read only" cannot be edited.noteYou must have Edit Federal permissions to edit workpaper data.
- After you enter data, selectSave. The adjustment data must be balanced before the system will allow you to save it. The data is saved both here and in theAdjustmentsarea inside a binder and vice-versa.noteSome adjustment rows cannot be edited if they have auto settings, K-1, 8865 K-1, or international transfers, or are system computed adjustments like A001, A002, A003 and A004.
