Drake Software User's Manual Tax Year 2011 Supplement: S ...

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Importing Trial Balance InformationDrake Software User’s Manual SupplementFigure 26: Example of an “unnecessary” detail worksheetRemove unnecessary detail worksheets prior to import. See “Detail Worksheets”on page 46 for more information on using detail worksheets in the trial balance.Preparing Financial Data for ImportTo prepare the financial data for importing into the return, the data must be enteredinto Drake’s specially designed trial balance template. Once this information isentered and saved, it can be imported into the return.Opening aTemplateThe first step in preparing financial data for importing is to open a trial balance templatefor the return and enter the financial data.To open a trial balance template for a return:1. Open the return to the Data Entry Menu.2. Click Import > Trial Balance Import in the menu toolbar. The preliminary TrialBalance Import dialog box is opened.3. Click Create New or Open Existing. If opening an existing file, click Open afterselecting the correct file.4. If a Security Warning box appears, click Enable Macros.NOTEIn Microsoft Vista and Windows 7, you will see a Security Warningmessage with an Options button. Click Options to open the SecurityOptions dialog box, then select Enable this content. Click OK.The trial balance template is displayed in Microsoft Excel.NamingConventionWhenever a new template is opened, the tax software assigns it a default file locationand name. Trial balance templates are saved in the TB folder of your Drake11 software.The file name consists of the client name as entered in Drake, plus “TB” for“trial balance,” plus the “.xls” suffix assigned to all Excel files, as shown in Figure 27.Figure 27: Example of trial balance template file name44 Tax Year 2011
Drake Software User’s Manual SupplementImporting Trial Balance InformationTo change the name of a file in Excel, select File > Save As (in Microsoft Vista andWindows 7, click the Office button in the upper-left corner and select Save As) andassign the new name.NOTEIf saving a trial balance to a different location, make a note of whereyou’re storing it. The program automatically looks in the default directory.TemplateStructureThe trial balance template consists of three title rows and six columns. The EntityName and Year End title rows can be edited; double-click a row to change the title.Columns are described in Table 4.Table 4: Trial Balance Template ColumnsColumnDescriptionAccount TitleDebit/CreditImport toReported on: Form, Page,Sch, and/or lineOther informationTitle of accountDebit and credit amountsScreen and line in Drake to which the debit or creditamount is importedLocation of the amount on the printed returnAdditional details for preparers; see “Details for Preparers”on page 49.Displayed at the bottom of the trial balance worksheet are the calculated amount forSchedule M-1, line 1; the credit and debit totals; and a cell showing whether or not thebalance sheet is out of balance and, if applicable, the out-of-balance amount(Figure 28; see also Figure 31 on page 47).Figure 28: Schedule M-1 amount (1); totals (2); and indication of balance (3)Following are instructions and guidelines for using the trial balance template toassemble financial data for importing into data entry.Tax Year 2011 45
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