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Level 2

S100 Balance Sheet

How come when you enter the figures from the QBO or QBD balance sheet (which balances) it never balances in Profile? It also doesn't balance if you import from QBD.

4 Comments 4
Mario B
ProFile Team

S100 Balance Sheet

Could it be  that you are missing some GIFI codes in the tax mapping, do you get all the entries that you wish into profile S125 and S100 ?

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Level 2

S100 Balance Sheet

when I import from QuickBooks no I don't but when I manually enter all of the figures yes I have all of the GIFI codes as they are added when I manually enter the figures

Mario B
ProFile Team

S100 Balance Sheet

The accounting entries are not necessary the same for  accounting and Taxes. By example the CCA values can be differen. Temporary differences are differences between pretax book income and taxable income that will eventually reverse or be eliminated. To put this another way, transactions that create temporary differences are recognized by both financial accounting and accounting for tax purposes, but are recognized at different times.

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Level 2

S100 Balance Sheet

Ok thanks for this Mario