About prepayments
Whether you need to report monthly prepayments on monthly tax returns, monthly deposits on a quarterly tax return or tax payments throughout the year on an annual reconciliation return, the last step before transferring the prepayment amounts to the tax returns is a final review and editing, if necessary. This is done in
Prepayments
within the binder.When you queue prepayments, prepayment amounts are pulled from the annual Prepayment Worksheet and prepayment amounts applied are pulled from the Tax Return Summary you processed from the preceding tax period.
Editing prepayments
Once you queue prepayments from the annual prepayment worksheet, you can edit the prepayment amount due or applied for the tax returns displayed. This is the last chance to view and change your prepayment due and prepayment applied amounts prior to transferring these amounts into the tax returns.