After you've reviewed your Working Trial Balance year-end information and completed your adjustments, you can export the trial balance for a tax preparer (or for yourself, if you are the tax preparer) to import into a tax application like QuickBooks Online Accountant Pro Tax or Intuit ProFile.
The Workpapers Tax Mapping feature allows you to either edit GIFI codes that we've already mapped for your account balances, or assign GIFI codes for account balances that have not yet been mapped. This feature automatically groups your account balances within the appropriate area of the tax form as each GIFI code is assigned.
The following information will guide you through the Tax mapping process in QuickBooks Online Accountant. The steps are also necessary when starting a return.
- From the client dashboard, select a client from the Go to client's QuickBooks drop-down menu.
- Select the Toolbox icon.
- Select Workpapers.
- Select the Tax Mapping tab.
- Check the Working Trial Balance, and the GIFI Mapping to ensure that all the work is completed. Any unassigned codes can be added to the Tax mapping section.
- To assign GIFI Codes, go through the list and change the tax line.
- A row displays beneath the line to map; select the GIFI code from the list.
- Once completed, select Save. This will save the information in a GIFI File format.
- Export the GIFI.
- Open the Pro Tax tab or alternate tax software.
- Create a new return to import the GIFI codes into.
- Begin the return.