Tax line mapping for Expenses
What Tax line mapping should I use for billable expenses. I have created sub accounts for hotel, airfare, etc.. under "Travel Expenses" in the COA and want to make sure to get everything into the correct buckets.
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aesNl8i-Cr4kAbacfA8pyY
01/19/11 8:13am PST
Viewed by asker 01/19/11 11:58am PST
Viewed by asker 01/19/11 11:58am PST
3 Replies
qbteachmt
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01/19/11 10:51am PST
Tax line mapping is only offered because Intuit sells QB and TurboTax. It isn't required for QB at all but makes tax prep reporting and data import functional.
In Company menu > Company Info, you identify your tax entity type.
Then edit your accounts to see what is offered for the tax form line mapping.
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01/19/11 11:24am PST
Hello, Thanks for the reply. TT, That is why I want to use it. I'm an s-corp 1120S, when I added subaccts to Travel Expenses I am wondering at that point what to assign. I'm in "Edit Account" looking at Tax-Line Mapping. It is more an accounting question than I am prepared to answer.
I am a single Prof Serv contractor billing as an s-corp. I had a simple accounting setup in Excel. In 2010 I have expanded into QB to support 2011 business requirements. I am looking for a different accountant than I had last year so I am kind of in the middle.
Thanks to all who looked, especially for the answers.
qbteachmt
Questions asked: 113
Questions answered: 53363
Points earned: 131166
Questions answered: 53363
Points earned: 131166
Allstar
Advisory council of community power users.
Accountant Community AllStar
Advisory council of Accountant community power users.
Intuit Moderator
Mod/Co-mod
01/19/11 11:35am PST
Latest post
Look at the 1120S from last year. This is where you find how things were reported last year.
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