Year end processing indicator
Record Type 1
Some trust systems include this indicator (found on Record 1) to set the processing treatment for each trust account. This informational field helps institutions that work with a third-party tax preparation service.
Some trust systems include this Record 1 indicator to control how each trust account is processed. It's an informational field that helps when your institution works with a third-party tax preparation service.
When the Year End Processing Indicator isn't locked on the OTT database, the value sent in the bridge is translated and displayed in 2 separate fields as follows:
Year End Processing Indicator | Tax Return | Worksheet |
|---|---|---|
1 & 4 = Load and Hold | Load and hold | Load and hold |
2 = Print without review (Do-it) | Print without review (Do-It) | Print without review |
5 = Tax information statement | Load and hold | Load and hold |
6 = Tax information statement & worksheet (custom) | Load and hold | Prepare Print for review (local print) |
7 = Prepare Print for review (local print) | Prepare Print for review (local print) | Prepare Print for review (local print) |
9 = Worksheet only - no tax return prepared. | No tax return prepared | Load and hold |
If the bridged value equals 2, the
Tax Return
displays Print without review (Do-it)
, and the Worksheet
displays Print
for the client.