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Prepare your clients’ accounts with Prep for taxes

Learn how to use to reviewand adjust your client’s QuickBooks Online accounts for tax season.

for QuickBooks Online Accountant lets you review a client’s accounts from a single dashboard. It's essentially a digital trial balance you can use for any of your clients. After your review, QuickBooks automatically assigns their accounts to the proper lines on tax forms. You can export the mapped tax forms to QuickBooks Tax powered by LodgeIT and get a headstart on your client’s tax return.

Here’s how to use to get your clients ready for tax season.

Step 1: Review your client’s accounts

Your client’s annual Balance Sheet and Profit and Loss Reports sit side-by-side for quick comparisons. You’ll also see last year’s totals, account differences, and any adjusting entries you’ve made in Prep for taxes .

To dive into a specific account and get a complete list of transactions:

  1. Open your client’s QuickBooks Online company. Select the briefcase (Accountant Tools) icon. Then select Prep for taxes.
  2. Expand the list of accounts.
  3. Select the account total from the column for the current year.

Step 2: Export the mapped tax forms

When you’re ready to export, download a CSV for other tax preparation software.

  1. Above the Actions column, select the Export icon.
  2. Select Export to CSV.

If you’ve signed up for LodgeIT, you can start exporting through it. Want to sign up? Here’s how.

Among many uses, you can use them to adjust transaction totals without changing the original record. You can think of them as amendments.

To make an adjusting entry:

  1. Expand the list of accounts.
  2. Find the account on the list.
  3. Select Make adjustment from the Actions column.

Keep track of your work

You can attach notes and source documents to each account.

  1. Select the arrow drop-down from the Actions column.
  2. Select Add attachment or Add note.

Clickable icons will appear next to each account for easy reference.

Change the accounting method view

You can toggle between accounting method views to make your review easier. This won’t affect your client’s settings or view in QuickBooks Online.

  1. Select the pencil ✎ icon next to the accounting method.
  2. Toggle between Cash and Accrual.

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