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Chart rollover
important
Once the charts are assigned to a binder, the chart assignment can't be removed or changed. The binder must be re-rolled into a new binder. Rolling into the existing binder keeps the chart assignments from the previous rollover, it doesn’t remove the chart assignments.
Minimal changes for the new tax year
- SelectBatch,Rollover, and thenRollover Charts.noteThe Chart of TCCs automatically rolls with the related Chart of Accounts. You need to expand the Federal Chart of Accounts to see the Charts of Adjustments, then select each Chart of Adjustments. Repeat the process of expansion and selection for all other charts.
- Select the year.
- Select the .
- Select theState A&A Rollover Option.
- SelectRollover.
Moderate chart changes for the new tax year
Use this scenario when you will use the prior year charts to prepare the current year returns, and the current year charts require moderate changes.
- Roll over only the Federal Chart of Accounts to 2024.
- Make changes to the current year chart and update the cross-references. If you delete any accounts from the Federal Chart, the system removes the cross-references for those accounts automatically. If these accounts in the prior year had balances that you want to retain history, you must cross-reference them to a current year account.noteThe process of rolling over your Federal COA and making changes to it before rolling over your adjustment charts is required so that the system can account for your Federal COA changes in the adjustments. If you roll over your Federal COA and adjustment charts at the same time and want to make changes later, then you will have an extra step to remove the account from the adjustment, before deleting it from the Federal COA.
- Roll over your Federal Adjustment Charts and all other federal and state charts.
- Access the 2023 adjustment charts and make the changes you need.
- Update cross-references as needed.
- Roll over the previous year's binders to the current year. Most likely you will choose to roll the chart assignments.
New federal charts for the current tax year
- Use this scenario when you need new charts to prepare your current tax year returns. You can retain the historical information by cross-referencing the new charts to the previous year's charts.
- Create and populate a new Chart of TCCs, Federal Chart of Accounts, Federal Adjustments, and M-3 charts. You can export the existing previous year's charts to use to create the new charts.
- Cross-reference your previous year's Federal COA to your current tax year's Federal COA. This cross-reference chart retains your historical information from prior year to current year.
- Cross-reference your previous year's Federal Tax Adjustment Chart to your new current tax year's Federal Tax Adjustment Chart. This cross-reference chart retains your historical information from prior year to current year.
- Roll over the previous year's binders to the current tax year's. SelectDon't roll the chart assignments with the binder.
- Assign the new federal charts to your current tax year's binders. SelectBinders, thenActions, thenInfoto assign the charts or use the Enterprise Control Panel.
- Roll over the state charts and assign them to the current tax year's binders. SelectBinders, thenActions, thenInfoto assign the charts or the Enterprise Control Panel.
A few consolidation members are changing charts
- Follow the steps for rolling over entities that are not part of a consolidation to roll over the members that will change charts before rolling the topcon/subcon.
- Roll the members without charts assigned.
- Use the Enterprise Control Panel to assign the charts.
- Roll over the topcon and the entire members list, including the members in (1), with charts assigned. The software won’t re-roll the members rolled over in (1). It won’t change the chart assignments to the existing previous year's binders. It will keep the members in the same order on theMemberstab for the previous year as they were for the current tax year.
Transfer TCC 001 detail to Organizer
For charts of accounts created manually or by rollover, TCC 001 descriptions and amounts default to not transferring to the detail boxes in the Organizer.
- Go to .
- Select the year, the specific chart of accounts, thenMore.
- SelectClosing & Rounding Optionsfrom the dropdown.
- MarkTransfer TCC 001 Detail.
- SelectSave.
Related Content
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Basic rollover process
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