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Edit standard account mappings

Standard account mappings help you add accounts to a client's Chart of Accounts by linking tax codes to classification codes and subcodes.
Follow these steps to edit standard account mappings in the application.
note
  • You can't add or delete codes here. Go to
    Setup
    Firm Information
    Firm Account Groupings
      to change codes and subcodes.
  • You can add new custom tax codes in
    Setup
    Firm Information
    Firm Tax Codes
    .
  • You can also add client-level tax codes from the
    Chart of Accounts
     screen.
  • If you're setting up a segmented Chart of Accounts and you're adding a new account for which the core account already exists, the application will use the assignments from the core account rather than the standard account mapping.
  1. Go to
    Setup
    Firm Information
    Standard Account Mappings
    .
  2. Select an Account Classification grouping code/subcode select
    Edit
    .
  3. In Account Groupings, choose codes/subcodes for firm account groupings.
  4. In Tax Information, update tax codes for existing entities and select M-3 Tax Codes for 1120, 1120S, or 1065 entities.
    note
    The M-3 Tax Code column is available for only revenue or expense account classifications (Income, Cost of Sales, Operating Expenses, Other Income, Other Expenses, Interest Expense, and Provision for Income Taxes. For those account classifications, the drop-down list in the M-3 Tax Code column is available for only 1120, 1120S, and 1065 entities.
  5. Select
    Enter
     to save changes.

This article applies to:

  • Product: Workpapers CS
  • Subject: Clients,Setup