Any Way to Map Just Parent Account to Tax Software

Posted by nish on September 4, 2008, 2:15 am

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Often you have lots of detail accounts and want to pull over just a parent
account to the tax software. For example, you might a parent account for
payroll liability and six or seven subaccounts. Whenever I try to map the
parent liability account in Quickbooks to a tax line, and unassign the child
liability accounts, Lacerte doesn't grab the parent at all. In effect you
have to take the child accounts or get nothing.

Is this a defect of Lacerte, or is there some configuration of Quickbooks
that will let us map just the parent account in Quickbooks to the tax
software?

nish

Posted by Haskel LaPort on September 4, 2008, 7:44 am

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> Often you have lots of detail accounts and want to pull over just a parent

> account to the tax software. For example, you might a parent account for

> payroll liability and six or seven subaccounts. Whenever I try to map

> the parent liability account in Quickbooks to a tax line, and unassign the

> child liability accounts, Lacerte doesn't grab the parent at all. In

> effect you have to take the child accounts or get nothing.

> Is this a defect of Lacerte, or is there some configuration of Quickbooks

> that will let us map just the parent account in Quickbooks to the tax

> software?

There are no options in QB to do this.

> nish

Posted by QBConsultant on September 4, 2008, 2:01 pm

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The transactions should be posted to the sub accounts (child) and not
to the parent account--so it should have a zero balance anyway.
Lacerte has a great SmartMap feature that is really cool! And it
'learns' for all you client files. so, if you can use standard COA,
you can really save time!

Michelle L. Long, CPA, MBA
Author of: Successful QuickBooks Consulting: The Complete Guide to
Starting and Growing a QuickBooks Consulting Business
Advanced Certified QuickBooks ProAdvisor
National Trainer for Intuit Trainer/Writer Network
http://www.SuccessfulQuickBooksConsulting.com
http://www.amazon.com/Successful-QuickBooks-Consulting-Comprehensive-starti=
ng/dp/14348106

> > Often you have lots of detail accounts and want to pull over just a par=

ent

> > account to the tax software. =A0 For example, you might a parent accoun=

t for

> > payroll liability and six or seven subaccounts. =A0 =A0Whenever I try t=

o map

> > the parent liability account in Quickbooks to a tax line, and unassign =

the

> > child liability accounts, Lacerte doesn't grab the parent at all. =A0 =

=A0In

> > effect you have to take the child accounts or get nothing.

> > Is this a defect of Lacerte, or is there some configuration of Quickboo=

> > that will let us map just the parent account in Quickbooks to the tax

> > software?

> There are no options in QB to do this.

> > nish- Hide quoted text -

> - Show quoted text -

Posted by nish on September 4, 2008, 7:05 pm

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<The transactions should be posted to the sub accounts (child) and not
<to the parent account--so it should have a zero balance anyway.

Imagine I have a parent account for credit cards. It doesn't get a zero
balance because it is a parent account! It gets the sum of the child
accounts, which can be any value positive or negative.

When exporting to Lacerte, it's quite a bit more useful to have a single
parent "Other Liability" account named Credit Cards move over than to have
25 separate individual credit cards!! The latter just creates a mess
inside Lacerte.

<Lacerte has a great SmartMap feature that is really cool! And it
<'learns' for all you client files. so, if you can use standard COA,
<you can really save time!

Does it let you map to the parent account?

nish

> > Often you have lots of detail accounts and want to pull over just a

> > parent

> > account to the tax software. For example, you might a parent account for

> > payroll liability and six or seven subaccounts. Whenever I try to map

> > the parent liability account in Quickbooks to a tax line, and unassign

> > the

> > child liability accounts, Lacerte doesn't grab the parent at all. In

> > effect you have to take the child accounts or get nothing.

> > Is this a defect of Lacerte, or is there some configuration of

> > Quickbooks

> > that will let us map just the parent account in Quickbooks to the tax

> > software?

> There are no options in QB to do this.

> > nish- Hide quoted text -

> - Show quoted text -