Managing Custom Chart of Accounts

You can create a custom chart of accounts for use with any number of tax returns. After you assign a custom chart of accounts to a tax return, you can add, edit, or remove accounts to create a chart of accounts specific to that return.

Tip: It is generally better to include the maximum logical number of accounts in a custom chart of accounts rather than the minimum logical number of accounts. Adding accounts after the custom chart is applied to a return is less efficient than using a chart of accounts that has some unused accounts.

For information about assigning a custom chart of accounts to a tax return, see Setting up G/L Direct.

For general information about using a chart of accounts grid, see Using the G/L Direct Chart of Accounts Grid.

Creating, Editing, and Deleting Custom Charts of Accounts

The Copy From Return function requires an open tax return that has been activated for G/L Direct.

Tip: You can create multiple custom charts of accounts to accommodate the various sizes and needs of a variety of charts of accounts.

To create, edit, or delete a custom chart of accounts, do the following:

1. Open a tax return in Return Manager.
2. Click Custom Chart of Accounts in the Options group on the G/L Direct ribbon.
3. Select the tax product for the custom chart of accounts you want to create, edit, or delete.
4. Do one of the following:

   Create a new chart of accounts

   1. Click Add.
   2. Enter a description for the chart of accounts.
   3. Click OK.
   4. Enter the account information in the Chart of Accounts grid. See Using the Custom Chart of Accounts - [Name of Chart] Grid and Editing and Adding Accounts for detailed information about using the grid.
   5. Close the Custom Chart of Accounts window. Your account information is saved automatically.

   Edit an existing chart of accounts

   1. Select the chart of accounts to edit.
   2. Click Edit.
   3. Make the needed changes in the Chart of Accounts grid. See Using the Custom Chart of Accounts - [Name of Chart] Grid and Editing and Adding Accounts for detailed information about using the grid.
   4. Close the Custom Chart of Accounts window. Your account information is saved automatically.

   Create a new chart of accounts by copying an existing one

   1. Select the chart of accounts to copy.
   2. Click Copy Selection.
   3. Enter a description for the new chart of accounts.
   4. Click OK.
   5. Modify the account information as needed for the new chart of accounts. See Using the Custom Chart of Accounts - [Name of Chart] Grid and Editing and Adding Accounts for detailed information about using the grid.
   6. Close the Custom Chart of Accounts window. Your account information is saved automatically.

   Create an exact copy of the chart of accounts in the open return

   1. Click Copy from Return.
   2. Enter a description for the new chart of accounts.
   3. Click OK.

   Delete a chart of accounts

   1. Select a chart of accounts to delete.
   2. Click Delete.
   3. Click Delete again on the confirmation window.

Using the Custom Chart of Accounts - [Name of Chart] Grid

The Custom Chart of Accounts list and the Custom Chart of Accounts - [Name of Chart] grid have similar names. The list displays a listing of custom charts of accounts for a specified return type. The grid displays the lines in a selected custom chart of accounts and has its own ribbon.

Explain the ribbon commands on the Custom Chart of Accounts - [Name of Chart] grid and on the right-click menu.

Command	Function
Find	Finds the specified word, words, or value in any column. Enter the complete criteria to search for specific records or partial information to search for similar matches.
Replace	Replaces the specified word, words, or value in any column with the specified replacement. Replace is not available in cells that cannot be edited.
Paste*	Pastes previously copied or cut information to the current cursor position. Paste is not available in cells that cannot be edited.
Cut*	Removes highlighted information from a cell that can be edited. Information that has been cut can be pasted to a new location.
Copy*	Makes the highlighted information available to be pasted to another location without removing the highlighted information.
Undo*	Undoes the previous action. Click Undo repeatedly to undo multiple levels of previous actions. Warning!: The Undo command will not undo the insertion or deletion of a row or rows.
Insert Row*	Adds a blank row above the cursor location. Warning!: The Undo command will not undo the insertion or deletion of a row or rows.
Delete Rows*	Deletes the selected account or accounts. Warning!: The Undo command will not undo the insertion or deletion of a row or rows.
Column Display Options	Allows you to select the columns to hide or display in the grid. Your selections only affect the current custom chart of accounts. See Selecting Chart of Accounts Grid Columns for more information.
Assign Tax Code*	Allows you to select a Tax Code for the currently selected account row or rows. If there is not an open tax return, then the tax codes available for selection are the standard tax codes for the specified tax type. If there is an open tax return that has been activated for G/L Direct, then the available tax codes are those used in the open return.
Grid Options	Allows you to edit the Custom Chart of Accounts - [Name of Return] grid cursor options.

1. * Available from the right-click menu. Right-click anywhere in the grid to display the right-click menu.

Editing and Adding Accounts

To edit accounts in the grid, move the cursor to the appropriate line and column and make the needed change. To add accounts to the custom chart of accounts, move the cursor to the bottom blank row and begin entering information for the new account. A new blank line is automatically created on the grid. Changes made on the grid are saved when you press Enter or move the cursor to another cell. There is not a Save or Cancel command.

Explain the columns in the Custom Chart of Accounts [Name of Chart] grid.

Column	Description
Account Number	A unique alphanumeric identifier for the account.
Account Description	The account description, such as the account name. Account descriptions are optional.
Account Type	A single letter for the account type. A = Asset E = Equity L = Liability M = Memo R = Revenue X = Expense Blank = None or unassigned
Tax Code	The tax code associated with the account. In addition to the standard tax codes, you can use any valid tax code. User-defined tax codes use suffixes in the range from .0001 to .9899. Note: If an account has no valid G/L Direct tax code assigned to it, its balance will not be included in tax calculations.
Entity/Property Number	If the assigned tax code is associated with an entity or property, this column displays the entity or property number for the account. Examples of entities or properties include rentals, farms, and businesses. You can enter any valid entity or property number.
Option 1	If there is an open return, displays the Option 1 setting (if applicable) of the tax code assigned to the account. If there is no open return, then Option 1 is blank and deactivated.
Option 2	If there is an open return, displays the Option 2 setting (if applicable) of the tax code assigned to the account. If there is no open return, then Option 2 is blank and deactivated.