Add or delete a Breakdown

Modified on Wed, 01 May 2024 at 02:24 PM

Add a Breakdown

If there is an account that is made up of different tax treatments, you can use an account breakdown to split those amounts so they can be treated differently.

To add a breakdown:

  1. On the trial balance page, locate the account you want to create a breakdown for.
  2. Click the Settings button of the account, then click the Breakdown option. When you first create the breakdown, it will show as red. Once you reconcile the breakdown accounts with the amount in the trial balance, the breakdown shows as blue.

    If you are unable to add a breakdown (ie the breakdown option is disabled or grey), please check the following:
    • You have full access to the taxpayer
    • There is no workpaper on the account (even in prior years). If there is a workpaper on that account in previous years, it might be best to create a new account in the current year and add the breakdown to the new account. You should change the account code of the existing account so that any future imports will load into the new account.
    • There is no tax return mapping (this needs to be removed and added to the breakdown accounts)
    • There are no locked years (prior years will need to be unlocked before creating a breakdown. Once the breakdown has been created, remember to lock the prior years again)

  3. Click on the new breakdown to add additional accounts.
  4. Once inside the breakdown you will see a default account called ‘Account name’. You can treat this account like any other and rename it, add a workpaper, files and notes etc. You can also add any number of new accounts to the breakdown using New or Import.

Below is how it would look if two accounts were added to the breakdown and a Temporary difference workpaper is assigned to one of these accounts.

Delete a Breakdown

When a breakdown is created, TaxLab automatically creates a default sub account called ‘Account name’. To delete a breakdown, you need to first delete the sub account(s) created in the breakdown. There are two options to do this:

Option 1

If there are multiple sub accounts to be deleted, use this option.

  1. Go into the breakdown to see the sub accounts of the breakdown.
  2. Go to the Chart of account tab. Tick the sub accounts that you want to delete and select Delete from the drop down box. Click Apply.

Option 2

  1. Click into the sub account.
  2. Click the cog on that workpaper and select Permanently delete account from all tax years.

  3. Once the sub accounts have been deleted, the breakdown is removed from the trial balance account.

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