About this template
Work type: Accounting
Location: United States
Client industry: Generic
Version: 1 (Latest)
This template includes
- 9 tasks
- 1 client tasks
- Automations
Year End Match S Corp Tax Return to Balance Sheet
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| Tax Return Reconciliation | ||
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| Send Client task to upload Corp Tax Return |
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| Ensure beginning retained earnings on tax return matches ending retained earnings on balance sheet. |
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| Compare total income/loss on tax return to net income on balance sheet. |
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| Verify total assets, liabilities, and equity on balance sheet match up with corresponding amounts on tax return. |
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| Check for any differences in specific account balances between tax return and balance sheet, such as cash, accounts receivable, or inventory. |
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| Review any accounting adjustments made on the tax return to ensure they are properly reflected on the balance sheet. |
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| Record any Adjusting Journal Entries (if needed) | ||
| Confirm that all tax-related items, such as deferred tax assets and liabilities, are appropriately recorded on the balance sheet. |
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| Record any Adjusting Journal Entries (if needed) | ||
| Document any discrepancies found and investigate the reasons behind them. |
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| Seek assistance from a tax professional or accountant if significant variances cannot be reconciled. |
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| Ask for Depreciation schedules (if applicable) | ||
| Client Tasks Client Tasks | ||
|---|---|---|
| Upload Corp Tax Return | ||