Importing QuickBooks data into Intuit Tax Advisor to forecast and adjust income for tax planning

What does the QuickBooks integration in Intuit Tax Advisor do?

The QuickBooks integration lets you import book data into Intuit Tax Advisor for tax planning, so you have a single place to plan and advise from. This eliminates the need to export and forecast book data from QuickBooks, adjust it for tax purposes, and then manually enter it into Intuit Tax Advisor.

Select a set of books

1. Select Import QuickBooks data in the top right of the pre-strategy baseline.
   
2. Select a set of books, a data period, an accounting method, and an activity to attribute them to. Then select Add books.
   
3. Select Review to see the business's forecasted Profit and Loss statement and make adjustments before attributing it to the selected activity.
   

Review, adjust, and forecast the business's income and expenses for the year

The Profit and Loss statement for the selected data period is imported from QuickBooks, forecasted for an entire year, and automatically mapped to inputs on the pre-strategy baseline. You can adjust the mapping and the year-end projection for any expected changes.

Import the forecast into the pre-strategy baseline for planning

1. After you have completed your review, select Start planning to import the forecasted business income into the pre-strategy baseline.
   
2. You will then see the forecasted business income and expenses imported into the pre-strategy baseline, ready for planning and advising.
   

Common questions

What business types can I use this for?

You can import QuickBooks data for Schedule C, E, and F, S corporations, and partnerships.

Can I import QuickBooks data for multiple businesses?

Yes. You can import QuickBooks data for all businesses on the pre-strategy baseline.

Why can't I go back and view the forecasted Profit and Loss statement?

At this time, the forecasted data isn't saved, but that capability is coming soon.