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Leadsheets

Types of Leadsheets

Leadsheets are excel-based reconciliations that show a holistic view of the return which helps reduce the review time and increase accuracy. Leadsheets also lets you print DreamWorkpapers. SurePrep provides Classic and Simplified Leadsheets.
note
Leadsheets don’t appear automatically and have to be purchased separately. Contact your Customer Success Executive.

Classic Leadsheets

Classic Leadsheets shows the following three columns:
  • Per Leadsheet
     - Shows the amount verified by the preparer.
  • Per Tax Return
     - Shows the amount imported from tax software.
  • Variance
     - Shows the variance between
    Per Leadsheet
     and
    Per Tax Return Columns
    .
Per Leadsheet, Per Tax Return Columns, and Variance columns

Simplified Leadsheets

Simplified Leadsheets only shows the
Per Tax Return
 column:
  • Per Tax Return
    : Shows the amount imported from tax software.
Per Tax Return column

Comparison

Availability
Type
Simplified Leadsheets
Classic Leadsheets
Binder Type
Only 1040
1040 & 1041
Tax Software
  • GoSystem Tax RS
  • CCH Axcess Tax
  • GoSystem Tax RS
  • CCH Axcess Tax
  • ProSystem fx Tax
  • *
     Lacerte
  • *
     UltraTax CS
*
 You can't import tax return data for Lacerte and UltraTax CS. You will need to enter these amounts manually.
Columns in 1040 Pg 1, Pg 2, & Sch A
Per Tax Returns
 column only
Per Leadsheet
,
Per Tax Return
, and
Variance columns
Forms Tab
Not available. Don't have to learn it.
Available. Easier to prepare the return using the
Forms
 tab.
Where actions are performed?
Action
Simplified Leadsheets
Classic Leadsheets
Modify OCR Data in
Tax software
Forms
 tab
Capture Standard Documents data not sent/read by OCR in
Manually input in Tax software
Forms
 tab
Annotate
Manually place T/R stamps next to input data.
Automatically place Blue/Red references. Pick the data in the
Forms
 tab.
Capture non-standard documents
Manually input in Tax software
Forms
 tab. However, if data is not captured then use T/R stamps.
Delete OCR captured data
Tax Software
Before binder export - Delete in
Forms
 tab.
After binder export - you'll need to delete in the
Forms
 tab and the tax software.
Where is the review completed?
Action
Simplified Leadsheets
Classic Leadsheets
What comes in?
Manual inputs in tax software.
The output forms 1040 Pg1, Pg2, and Sch A
How are the differences displayed
Variances are indicated by the red asterisk (
*
)
The variances column shows amounts in red
Do I need to link the amounts in the leadsheet to the source documents?
Yes, manual linking is recommended
No, the amounts link automatically
What happens to the T/R stamps?
In the
Review Tree
, items in the Unreviewed T/R stamp node are cleared/removed.
Neither removed nor linked to the leadsheets
Is there an easier way to review the inputs made directly in the tax software?
Yes. Two new nodes will appear under the Review Tree.
No
note
Leadsheets don’t appear automatically and have to be purchased separately. Contact your Client Success Manager.
What happens when additional documents are submitted to an existing binder?
When additional documents are submitted to an existing binder.
Action
Simplified Leadsheets
Classic Leadsheets
Binder verification has NOT been initiated
Additional Documents will merge with Originally submitted documents. When the binder goes into verification, then the additional documents will subsequently appear after the original documents.
Additional Documents will merge with Originally submitted documents. When the binder goes into verification, then the additional documents will subsequently appear after the original documents.
Binder verification has been initiated
New documents will be processed after the original documents have been exported.
New documents will be processed automatically after the original documents complete processing.

This article applies to:

  • PRODUCT: SurePrep
  • Sub-Product: SPbinder

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