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Grouping schedules enable you to group similar accounts together for tax exports, reports and financial statements — available in a future release — and to calculate net income in the trial balance. You can add or modify an unlimited number of grouping schedules for your project.

Open your project and click the Groupings tab.

• We recommend that you use the default grouping schedule, Account Classification, which you can modify or rename. If necessary, you can add new grouping schedules.

  Code	Description	Subcode	Description
  CA	Current Assets	CASH	Cash and Equivalents
  		MS	Marketable Securities
  		AR	Accounts Receivable
  		INV	Inventory
  		PE	Prepaid Expenses
  		OCA	Other Current Assets
  NPE	Net Property and Equipment	PE	Property and Equipment
  		NON	Non-Depreciable Property and Equipment
  		AD	Accumulated Depreciation
  NCA	Non Current Assets	LT	Long Term Investments
  		IA	Intangible Assets
  		ONCA	Other Non Current Assets
  CL	Current Liabilities	AP	Accounts Payable
  		CUR	Current Portion of Long Term Debt
  		NP	Notes Payable
  		AL	Accrued Liabilities
  		COMP	Compensation
  		INT	Interest Payable
  		TAX	Income Taxes Payable
  		OCL	Other Current Liabilities
  LTL	Long Term Liabilities	LTD	Long Term Debt
  		DEF	Deferred Income Taxes
  		OLTL	Other Long Term Liabilities
  EQ	Equity	CS	Capital Stock
  		CAPC	Capital Contributions
  		CAPW	Capital Withdrawals
  		APIC	Additional Paid in Capital
  		TS	Treasury Stock
  		PE	Partnership Equity
  		RE	Retained Earnings
  		OE	Other Equity
  		DIV	Dividends
  INC	Income	SALE	Sales Revenue
  		RET	Returns and Allowances
  COS	Cost of Sales	COS	Cost of Sales
  EXP	Operating Expenses	GEN	General and Administrative Expenses
  		SE	Selling Expenses
  		RM	Repairs and Maintenance
  		DEP	Depreciation Expense
  		OC	Owners Compensation
  		OOE	Other Operating Expense
  OI	Other Income	Gain	Gain on Sale
  		OI	Other Income
  OE	Other Expenses	LOSS	Loss on Sale
  		OE	Other Expenses
  INT	Interest Expense	INT	Interest Expense
  TAX	Provision for Income Taxes	TAX	Provision for Income Taxes
  MEMO	Memo	MEMO	Memo
  OTH	Other Miscellaneous

• Each grouping schedule is comprised of a set of codes or subcodes. You can add, edit, or delete codes and subcodes. To add a new code, click Add and select Code. In the Add Code panel, enter a name for the code, add a description, and then select a category and a detail.
  There are 14 predefined categories available in the application.

  Current Assets

  Net Property and Equipment

  Non Current Assets

  Current Liabilities

  Long Term Liabilities

  Equity

  Sales

  Cost of Sales

  Operating Expenses

  Other Income

  Other Expenses

  Interest Expense

  Provision for Income Taxes

  Memo

• You can modify each grouping schedule by assigning accounts to codes or subcodes. Select one or more ungrouped accounts, select a code or subcode, and then click Group.

Tax grouping schedules

You can select from a list of pre-defined tax grouping schedules unique to each tax entity. You can assign an ungrouped account to a specific tax form and line number in the Grouped Accounts list.

• The contents of the tax grouping schedule vary based on the entity type for the contact.

  Note: The application does not provide tax grouping schedules for Unspecified or Limited Liability Company entity types. You cannot add custom tax grouping schedules.

• You can assign unique unit numbers with a 3-digit maximum to tax codes related to a form that allows for multiple units (e.g., rentals and farm rentals). To add a unit, highlight a line number in the Grouped Accounts list, click Edit, and increase the amount in the Number of Units field.

Related

Integration with UltraTax CS

Trial Balance overview

Import and export account information