Import / Export Your Data

 

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You need JAVA to run our business tax application. You can download JAVA from SUN for Netscape 7.0 from http://java.sun.com/products/plugin/ or the lastest JAVA for Microsoft Internet Explorer.

TO IMPORT: Go to HOME and COPY your data file BEFORE you IMPORT your data, in case you make a mistake.

Financial, Income, Expense, Capital Gains and Balance Sheet Import

You can import you financial information from your financial or accounting package. There are two ways to transfer data from your account software to Taxsoftware.com. You can import a TXF file or a CSV file.

To import your TXF file:

1) From the Information web page click on "Accounting Import". Accounting data should be imported at the beginning of preparing your tax return.

2) On the Accounting web page Click on "TXF Import" and select the TXF file to import.

3) On the Accounting web page click on "PROCESS" to transfer the TXF data to your tax return. Any data already entered into the tax return that conflicts with the TXF data being imported will be lost.

If you can not generate a TXF from your accounting software then you need to generate a CSV file.

1)  Use Reports/Accountant and Taxes/Income Tax Preparation to generate a report of income tax line items. 

2) Use the Modify Report to add a Balance column to the report.

3) Export to EXCEL.

4) You need to have three columns KEY, 0010, and 0020. The KEY column needs to have a number from 0,1,2,3,4 .... The 0010 is the account code tax line from your accounting software. The 0020 is the amount from your tax software. Remove all other columns. Add the Key column. Remove all column titles except the KEY,0010, and 0020. Save the file as a CSV file.

To import you CSV file:

1) Go to your accounting software and click on

2) When the report shows up click on "Export to Excel"

3) In the Excel spread sheet delete all of the extra columns so that there are just two columns left. The categories and the amounts. Change the title on the categories column to 0010 and the title on the amounts column to 0020. The columns can be in any order, but you must delete any blank columns in the data. Then save the file as a CSV file.

4) From the Information web page click on "Accounting Import". Accounting data should be imported at the beginning of preparing your tax return.

5) On the Accounting web page click on "Import" and select the CSV you made in step 3.

6) On the Accounting web page click on "PROCESS" to transfer the data to your tax return. Any data already entered into the tax return that conflicts with the data being imported will be lost.

K-1, Capital Gains, and Information Returns Forms Import

Many forms have IMPORT or EXPORT buttons on the pages. You can IMPORT or EXPORT to a K-1, W2g or any 1099, 1098, or 5498 form. To get a template for a given form. First go the web site and enter one form and press EXPORT. This will create a template you can paste your data into. Normally, IMPORT/EXPORT is only recommended if you have more than 100 forms of a given type to enter. You do not need to use the IMPORT/EXPORT if you have more than 100 forms of a given type, but normally it is easier to IMPORT the forms then it is to enter them on the web site by hand if you have more than 100 forms of a given type.

Each row in your spreadsheet to IMPORT represents one form. The first column in each row is the KEY. The KEY is a sequential number of the partner, recipient, form number or row starting with 0. You must not skip any numbers in the KEY column. The numbers must be in order such as 0, 1, 2, 3, etc. During IMPORT the program will put  the data from each partner, recipient or row into the row that is numbered according to the KEY.  You must not change or edit the KEY. If you wish to add a new partner, new recipient, or new row, just fill in the information and leave the KEY blank, and the new partner, new recipient, or row will automatically get the next unused number. To delete a partner or row, do not edit the KEY, just leave the Partner's Name 1 blank (line code 0040 for K-1) or Recipient's name blank (line code 0020 for 1099, 1098 or 5498 forms) .  You must save the file as CSV file in order to IMPORT it. After you press EXPORT, select OPEN to edit the CSV file.  Press BACK after you are done editing the file. You will be asked if you want to save the file; select YES. Then you will be asked if you want to save the file in CSV format; select YES. After you have saved the file, you can press the IMPORT button to import the data.

The titles of the columns when you export your K-1 data will match the IRS line codes. You may remove any columns you don't wish to use. You may add additional columns if the title of the column is the IRS line code for the new column you wish to add.  Do not leave any blank column titles. All columns after a blank column title will be ignored. If you add additional columns then any values imported into those columns will override the calculations normally used for those columns, all allocations will be according to the imported data.  To find out what the IRS line codes are for columns not listed here you may contact us at elf@taxsoftware.com  Click here for a list of the IRS line codes for the K-1 and a description of what each code means:

IRS Line Codes for Form 1065 Schedule K-1 Tax Year 2003 and earlier

IRS Line Codes for Form 1065 Schedule K-1 Tax Year 2004

IRS Line Codes for Form 1041 Schedule K-1

IRS Line Codes for Information Returns (1099s, 1098s, 5498s, W2-G)

IRS Line Codes for Form 1120S Schedule K-1


 

 

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