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Check and correct tax line assignments

The accuracy of the tax summary report depends on whether each tax-related account has the right tax line assignment. Example

To do this task

  1. Go to the Reports menu, choose Accountant & Taxes, and then click Income Tax Summary. Shortcut

  2. Make sure the date range is for the tax period you want.

  3. At the end of the report, double-click the amount for Tax line unassigned (income/expense).

    The amount is the total of all distributions to an income or expense account without a tax line assignment.

  4. In the report that appears, check for transactions that should be included in the totals you report to the IRS. When you find a transaction, note the name of the account.

  5. Assign the appropriate tax line to each account you found:

    • In your chart of accounts, select the account Shortcut.

    • Click Edit Account.

    • Click the Type drop-down list and choose the tax line.

    What if the list of tax lines is missing?

    What if the list of tax lines is missing?

    More about tax lines

  6. After you have corrected any missing or incorrect tax line assignments, click in the tax summary report window.

The report should reflect all the changes you made. Example

See also

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PPRDQSSWS904 9142 Pro 2018 1a2028