Happy tax season,
Question about S Corp return entry.
I come from using Prosystems. Whenever I prepared a return where there was a difference in ending Retained Earning to the ending M-2 balance, we included a statement to explain the difference.
I cannot find where to do that in Lacerte, does it have the ability?
Thanks!
Best Answer Click here
I create my own Statement. Go to screen 39 for Notes. Make sure to check the Statement box on the left. (Worksheets don't go with an e-file, but Statements should).
Type in your own Note.
We do the same thing, reconciling from M-2 to Schedule L thru the Clients Notes tab.
I create my own Statement. Go to screen 39 for Notes. Make sure to check the Statement box on the left. (Worksheets don't go with an e-file, but Statements should).
Type in your own Note.
We do the same thing, reconciling from M-2 to Schedule L thru the Clients Notes tab.
Thank you! I was on the phone with Lacerte at the same time I posted the message, and they said the same thing.
Also appreciate the emails about making sure the statement box is checks.
Very interesting, because I always thought the reconciliation was a requirement, because we always did them. Still surprised Lacerate doesn't have an official mechanism for creating it, but this works fine.
You have clicked a link to a site outside of the Intuit Accountants Community. By clicking "Continue", you will leave the community and be taken to that site instead.