In this article you will learn how to Prep for taxes and get your clients ready for tax season. To know more, contact QuickBooks Desktop Support.
Step 1: Opening Prep for the tax season
To open Prep for taxes, there are two ways :
- Go to the Clients tab if you’re in QuickBooks Accountant. Look for your client and then from arrow drop-down in the Actions column click on Prep for taxes.
- Select Prep for taxes from the Accountant Toolkit if you’re working in a specific client’s QuickBooks account.
- QuickBooks Accountant – The Accountant Tool kit.
- Every client has their Prep for taxes page dedicated for them.
Step 2: Making adjusting entries as required
- To make adjusting journal entries, Prep for taxes has everything you’ll need.
- Without changing the original record, you can use them to adjust transaction totals amongst the other uses. These can be referred as amendments.
Follow the steps to make an adjusting entry:
- Select the briefcase (Accountant Tools) icon from your client’s QuickBooks accountant company and then click on Prep for taxes.
- Now, you need to expand the list of accounts and then find the account on the list.
- Select Make adjustment from the Actions column.
- Keep a track of your work done.
- To each account, you can attach notes and source documents.
- Select the small arrow icon from the Actions column.
- Click on Manage attachments or Add note.
- For your easy reference, clickable icons will appear next to each account.
- Make changes in the accounting method view.
- To make your review easier, you can toggle between accounting method views. By doing this you do not affect your client’s settings or view in QuickBooks.
- Click on the pencil icon at the top.
- Between Cash basis and Accrual basis, toggle.
- Get a complete list of transactions and dive into a specific account:
- Again, expand the list of accounts you have.
- From the column for the current year, select the account total .
To know more on how to Prep for taxes and get your clients ready for tax season in QuickBooks Desktop, call on our QuickBooks desktop support number. You can also write to us at firstname.lastname@example.org . For more information visit – www.quickbooksupport.net .