I am stumped in trying to create a tax prepration report for my accountant. There is no suitable report in the standardized reports and the report designer is of no help. The problem seems to be that there is no way to assign a tax line to chart of account items. I tried exporting my BM+ v.7 data to Quickbooks, which has a built in tax prep report that generates with a couple of mouse clicks, but there is no easy way to match fields without manually adding a tax code field for each transaction.
Has anyone had experience in generating a tax prep report or exporting data in a way its actually useable for this? Does anyone know of a program that will work with BM+ data to generate the report?
Paul E. Lee - Law Office of Paul E. Lee, 414 S. Marengo Ave., Pasadena, CA 91101-3113 firstname.lastname@example.org
Paul E. Lee / Law Office of PAUL E. LEE / Los Angeles, CA
The reason some software have a tax code field is to link it to tax preparation software. Time Matters with Billing Matters Plus does not link to tax software but it sounds like you are using an accountant for your tax preparation. You could put the tax code in the account description from the Chart of Accounts.
To prepare a report for your accountant, all you have to do is run a General Ledger Report for the year. Lots of paper but it does the trick. All the detail and the totals. This works for my clients.
Is there some other reason you need a tax code field?
Thanks for responding, Deanne.
No, there is no other reason for a tax code. I switched over to TM v.7 and BM+v.7 in the middle of my fiscal year so half my data is in Quickbooks and half in BM+. Quickbooks has a standard report that will quickly print a FY total for each tax line item. My accountant and I have worked together for so long that he uses the totals only report for my returns and other financial needs. I was hoping to get the same type of thing out of BM+ without having to go back and add a field to every single transaction. I don’t generate the detail level of a General Ledger Report for this purpose.
Paul E. Lee
Law Office of PAUL E. LEE
414 South Marengo Avenue
Pasadena, CA 91101-3113
(626) 449-4417 (Fax)
For one of my clients, I placed the account used by the Account in the Category field. That way, my client can print a summary income statement and summary balance sheet summarized the way the accountant wants to see it. It's not perfect, but it seems to work.
Of course, this won't work if you are already using you chart of accounts categories for summary reporting.