Prep for Taxes introduces big improvements to the way you review, adjust, and map tax lines in your client’s books prior to tax filing. This new feature replaces Trial Balance in Accountant Tools for QuickBooks Online Accountant.
Where did Trial Balance go?
While Prep for Taxes replaces Trial Balance in Accountant Tools, you can still access the Trial Balance report and the Adjusted Trial Balance report. Select Reports from the left menu, then scroll down to For my accountant section.
Why did the Trial Balance get replaced?
Based on feedback we gathered from accountants, we identified several core difficulties when using the Trial Balance tool. We are introducing Prep for Taxes to address these user pain-points and to further simplify the task of preparing your client’s books for tax filing.
Here's a quick look at the main advantages of Prep for Taxes over Trial Balance:
|Prep for Taxes||Trial Balance|
|The new "Review and adjust" tab displays accounts in the Balance Sheet and Profit and Loss formats. Both formats are shown in one view.||The Trial Balance has one long list of accounts, which can be hard to navigate. You need to scroll left and right to see the whole page.|
|Sections are organized by form number and name making it easier to find the form needed.||The schedule section of the form involves lots of scrolling up and down before finding an account.|
|You can now carry over tax mappings from the previous year.||Trial Balance has no ability to carry over tax mappings from one year to the next.|
|You can toggle the accounting method to cash or accrual without affecting your client's books.||Any changes accountants make to accounting method (cash or accrual) have to be changed within your client's books and could cause viewing inconsistencies between clients and their accountants.|
|Setting mapping is easier. You can type a keyword to see a filtered list where that word is included in the form.||The type-ahead filtered list on Tax Mappings was not easy to locate.|
|Mappings screen has a larger scroll-able area so you can see more line items.||The Trial Balance has a very short scroll-able area making it difficult to discover the line items needed.|
Visit Benefits of Prep for taxes to learn more.