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

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