Common questions about Balance Sheets in ProSeries

Importing Trial Balance data into the tax return

1. Open a Client File in either the 1120, 1120s, 1041, 990, or 1065 HomeBase View.
2. From the Import menu, select Trial Balance Setup.
3. Select the trial balance program from the Trial Balance Program list.
   • If a program is not listed ProSeries is unable to import from that program.
4. Click Select File and choose the location of the trial balance data file.
5. Select the Automatically Update check box to update this client's tax return with trial balance amounts automatically when the import file changes.
6. Click the button (Adjusted, Federal, State, or Other) for the type of basis to be used for this import procedure. The basis that you select determines which set of account values are used for this return
7. When you finish the trial balance setup, click OK to save the setup information.

For more resources on the Balance sheet for Form 1120, 1120S, 1065, and Form 990.

• Schedule L: Balance Sheet is Out of Balance Form 1065 1120S 1120 Or 990 Part X
• Suspend Calculation of Schedules L M-1 and M-2 for Form 1065 1120S or 1120