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Chart of accounts

Tax code assignments for general ledger accounts

Assigning tax codes to specific general ledger accounts enables your tax application to transfer account balances to the proper tax form lines, ensuring mapping and reporting.

Tax code assignment overview

  • Options available in the
    Tax code
     dropdown in the
    Chart of Accounts
     screen are based on the client's entity type.
  • The application includes new tax codes from time to time in response to federal tax form changes.
    important
    You don't need to update existing tax code assignments in response to tax form changes because UltraTax CS does it automatically.
  • The application transfers forward tax codes the 1st time you move into a new fiscal year. After that, the tax codes for different years are independent of each other.
    • If you move forward to a new year in which the tax codes haven’t yet been released (for example, 20xy), the application uses tax codes for the latest year available to generate assignments in the database.
    • If you move back to the prior year (for example, 20xx), change an assignment, and then move forward again (to 20xy), the application won’t transfer assignments made in the prior year (20xx) because they’ve already been assigned in the new year.

List of tax code assignments available

Refer to the Tax Code Listing for a list of tax code assignments available.

This article applies to:

  • PRODUCT: Workpapers CS
  • Subject: Account grouping