Assigning the Entity Type to a Client Type

the new ProSystem fx Suite uses client types instead of entity types. Any client assigned to one of your current custom entity types will be reassigned to the client type you select. There are seven static client types, but your firm may create additional client types using the manual option. Although the utility will match client types where possible, the final decision is yours.

You have two choices for importing the client types: manual and client type import spreadsheet. If your current entity types will map well to the new client types, or if you need to create new client types based on your entity types, the manual option is suggested and will require less time. If your entity types are not well-defined or do not map well to the new client types, use the file import option.

Use one of the following procedures to resolve mapping questions and specify whether to keep the old codes as additional information or client groupings:

Manual option

For each Entity Type in the table, verify that the columns contain the correct information for your migration:

• Client Types. Select a client type to link the entity type to, if needed.
• Create as New. Select this option to create the entity type as a client type in the new ProSystem fx Suite. Update the client type name in the New Client Type column if necessary. You can use this new client type during migration for clients without a tax return.

Import file option

To use this option, you should have already entered your data in the client type import spreadsheet. The spreadsheet can be generated by going to the Prepare staff and client data section on the Welcome window. Select Import the client type data, then click Import template.