7204 MEM Posted February 23, 2014 Report Share Posted February 23, 2014 Hello: By default, ATX is forcing Retained Earnings on the Balance Sheet per Books (1120S, Sch L, Line 24) to EQUAL the ending balance in AAA (1120S, Sch M-2, Line 8). That's not accurate for this client. Does anyone know where in ATX to make an adjustment to Retained Earnings on 1120S, Sch L, line 24? The "jump to" appears to be hard linked to Line 8 of Sch M-2. To balance the balance sheet, I had to use Line 25 for this book to tax difference but prefer line 24. Quote Link to comment Share on other sites More sharing options...
7204 MEM Posted February 26, 2014 Author Report Share Posted February 26, 2014 I found where I think the programmers intended book/tax differences to be input for 1120S Sch L Retained Earnings. It's not really an input schedule. From the BS, jump (twice) to the M-2 - Retained Earnings Schedule. It's a table which is a reproduction of the tax return for AAA with an EXTRA COLUMN titled "Retained Earnings Unappropriated/Timing Differences". It allows you to adjust AAA to book Retained Earnings as well as add an itemized list (which I think will print???). That's were I'll put my current issue which is a Distribution in Excess of AAA. I had the adjustment on BS, Line 25 but don't want to confuse the client (or myself) when this rolls forward to next year. Quote Link to comment Share on other sites More sharing options...
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