TG
Level 1
12-07-2019
02:48 AM
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How to create a working trial balance for the company and how to understand its inputs?
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sjrcpa
Level 15
12-07-2019
02:48 AM
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The trial balance will come from the accounting software.
Understanding it requires some bookkeeping and accounting knowledge.
The more I know the more I don’t know.
TG
Level 1
12-07-2019
02:48 AM
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I understand accounting rules but don’t understand how to manipulate p and l and BS to create the differences for making a an M1 adjustment
TG
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12-07-2019
02:48 AM
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in lacerte
sjrcpa
Level 15
12-07-2019
02:49 AM
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First you need to identify the book tax differences. I take the trial balance and post Tax Journal Entries to it to get to a tax trial balance.
The more I know the more I don’t know.
The more I know the more I don’t know.
TG
Level 1
12-07-2019
02:49 AM
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Ohk... So if I say that I have to make a WTB for year 2018, then I will have to take 2017 ending trial balance from Lacerte and then bring it forward for year 2018 line items and do the reconciliation?
sjrcpa
Level 15
12-07-2019
02:49 AM
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No offense intended but I think you need more help than you are going to be able to get here on the forum. Please try to find a more experienced accounatnt to help you.
The more I know the more I don’t know.
