Tax Lines in CustomBooks™ | Tax Line Settings & Export

Tax Line Settings

Overview

A Tax Line is a specific category or line on a tax form where financial information is reported. The Tax Lines feature in CustomBooks™ allows you to map General Ledger (GL) accounts to specific tax lines. These mappings help organize financial information needed for tax reporting and allow you to export tax data for use with your preferred tax preparation software.

Why use Tax Lines?

The Tax Line feature helps you:
  1. Map GL accounts to the appropriate tax form lines.
  2. Organize tax-related financial information by tax year and tax form.
  3. Generate tax reports in summary or detail format.
  4. Export tax information for use with tax preparation software.
So, think of a Tax Line as a destination on a tax form, while the GL account is the source of the financial information being reported.

Configure Tax Line Settings

To configure your tax line mappings:

  1. Go to Accounting module.
    1. Alternatively, go to Admin Panel.
  2. Select Accounting Settings.
  3. Scroll down to the Tax Line Settings section.
  4. Verify the Tax Year.
    • If you need to update the tax year, click the current tax year.
    • Select the appropriate tax year from the list.
  5. Click Show List of Tax Lines to open the tax line mapping window.
  6. Select the tax form you want to configure.
    • To view tax lines for all available tax forms, select All Forms from the dropdown menu.
  7. Select a tax line then click Setup Accounts.
  8. Use the checkboxes to assign the appropriate General Ledger accounts to the selected tax line.
    1. Repeat these steps until all required tax lines have been mapped.
  9. Then setup a Default tax form for Tax lines.


Exporting Tax Line Information

After configuring the tax line mappings, you can generate a Tax Lines Export report.

  1. Navigate to Reports.
  2. Select Tax Lines Export.
  3. Set the Tax Period.
    1. Presets
    2. Period
  4. Choose the report Display type:
    • Summary – Displays summarized tax information.
    • Detail – Displays detailed tax information.
  5. Click Run Report.

After the report is generated, you can:

  • Select Export to Format to export the report in your preferred file format.
  • Select Print to generate a printed copy of the report.


For a quick overview of the process and guided steps, please watch the video below.




Using the Tax Lines Export

The exported tax line information can help organize the financial data needed for tax preparation. Depending on your tax preparation workflow, the exported data can be uploaded into your preferred tax software.


Important

Make sure the correct tax year, tax form, tax lines, and General Ledger accounts are selected when configuring your tax line mappings. Review the exported report to confirm that the information is mapped and displayed as expected before using it for tax preparation.


Need Assistance?

If you need any further help or assistance, don't hesitate to reach out to our support team. You can contact us via live chat, email, or by submitting a support request ticket through our Help and Support page.