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Trial Balance

Integration with UltraTax CS: Account balances

For Onvio Trial Balance users
When you are licensed for Onvio and UltraTax CS, you can take advantage of the integration capabilities that enables you to import a contact's account balances — based on how the accounts are grouped in Onvio — into UltraTax CS via the
Utilities
Onvio Trial Balance (Import)
 command.

Steps in Onvio

As a best practice, follow these steps to set up your client's accounts and balances in Onvio Trial Balance so that they can be imported into UltraTax CS.
  1. Set up the contact with the correct tax entity.
    Onvio entity type
    UltraTax CS entity type
    Individual
    1040
    C-Corporation
    1120
    Limited Liability Partnership
    1065
    Partnership
    1065
    S-Corporation
    1120S
    Sole Proprietorship
    1040
    Exempt Organization
    990
    Trust
    1041
  2. Select the
    Trial Balance
     tab to add and import accounts and balances.
  3. Select the
    Groupings
     tab to add or modify one of the pre-defined tax grouping schedules that are unique to each tax entity.
    1. In the
      Groupings
       tab, select the correct tax grouping schedule from the
      Grouping Schedule
       field.
    2. Assign accounts from the Ungrouped account list to a specific tax form and line number in the Grouped Accounts list.

Steps in UltraTax CS

  1. Verify that your UltraTax CS licenses are up to date.
  2. o to
    Utilities
    Onvio Trial Balance (Import)
     to import the contact's account balances based on the groupings that you've assigned.
note
The entity type for the contact in Onvio must match the entity type in UltraTax CS.

Troubleshooting tips

Use the following tips to assist you when you prepare accounts and balances in Onvio Trial Balance to import into UltraTax CS. If steps in the process are incomplete or incorrectly entered, the import may fail and produce errors.
  • Add a client:
     Avoid using special characters such as a slash
    /
     or period
    .
     in the
    Client name
     or
    Client ID
     fields in the
    Setup
    Clients
     screen.
  • Create the trial balance:
     We recommend that you use account numbers in Onvio so that descriptions map correctly between years on subschedules in UltraTax CS.
  • Assign codes:
     Be sure to assign tax codes to ungrouped accounts in the
    Groupings
     tab. (UltraTax CS requires this information to map each account to a corresponding form and line number correctly.)

This article applies to:

  • PRODUCT: Onvio
  • Subject: Trial balance
  • Audiences: Staff