Manage account mapping to tax categories for your tax forms as an S corporation

Learn how to manage account mapping to tax categories for your tax forms as an S corporation in QuickBooks Online.

As an S corporation or partnership, you track all the money in and out of your business by categorizing everything in QuickBooks Online. The category or account you choose for a transaction determines where it'll apply on your 1120S or 1065 tax forms. 

Note: Go to Taxes, and select Income Tax in the main menu to see your tax information in QuickBooks.

Navigate the Income Tax page

There are three expandable tables on the Income Tax page, below the year-end checklist and the chart that shows your income and deductions. These tables show the totals for each tax category: income, deductions, and business assets.

For example, the table “Income from your transactions” will show how your revenue is categorized for your tax estimate and tax reporting purposes.

Within each tax category, you can expand the tax category to view which account from your Chart of Accounts was mapped to the tax category and the sub-total per account.
QuickBooks assigns default tax categories for the default Chart of Accounts.

For accounts that you created in your Chart of Accounts, you need to map your accounts to tax categories. QuickBooks can help you estimate your taxes correctly. It can also help you export your data when you file your taxes and complete 1120S and 1065 tax forms.

Manage account mapping

To manage your account mapping to tax categories, select from one of the income, deductions, or business assets tables: edit mapping to tax categories.

The Manage Account mapping page displays a table of all accounts from the Chart of Accounts. This page shows accounts that haven't been reviewed yet. These accounts need to be mapped to a tax category. You can use the filters to show specific groups of accounts.

Map the account to a tax category using generative AI

1. Select ✨Suggest under Tax Category for the account that you want to map to a tax category. A suggested tax category will appear using the information provided about the account.
2. Select Confirm to map the account to the tax category.

Map the account to a tax category manually

1. Select the Edit icon 🖉 under Action for the account that you want to map to a tax category.
2. Select Map to tax category from the ▼ dropdown menu.
3. Select Save.
4. Continue managing your account to tax category mapping until you’ve completely mapped and/or excluded accounts for income tax.
5. Return to the Income Tax page. The income, deductions, and business assets tables will be updated with the balances of the accounts.