By Rutuja Khanzode
Applies to: Office Accounting 2008, Office Accounting 2007
Save time and improve the accuracy of your tax calculations by exporting financial information from Microsoft Office Accounting and then importing that information into tax preparation software. With the Tax Integration add-in program for Office Accounting, you can export your financial information in a format that's ready for import into two popular tax preparation programs:
Before you can export your financial information, you must import tax line information into Office Accounting. Tax lines represent specific lines on your tax return that you must map to financial accounts in Office Accounting.
This article describes how to install the add-in, import tax lines, map them to financial accounts, and then export a file containing your financial information.
Install the Tax Integration add-in
Important This add-in program replaces the Tax Integration add-in for Microsoft Office Accounting 2007. Before you install this add-in, you must uninstall the Tax Integration add-in for Accounting 2007. To do so, follow the steps in the "Uninstall the Tax Integration add-in" section later in this article.
- Exit Office Accounting 2008.
- Download the Tax integration add-in from the Microsoft Download Center.
- Browse to the folder where you saved the downloaded file TaxAddIn.msi.
- Double-click TaxAddIn.msi, and then follow the instructions on the screen to complete the installation.
Enable the Tax Integration add-in
After you install the add-in, you must enable it.
- In Office Accounting, on the File menu, point to Utilities, and then click Add-in Packs. The Manage Add-in Packs dialog box lists the Office Accounting add-in programs that are installed on your computer.
- Select the check box next to Tax Integration Add-in.
- Click OK. You will be prompted to restart Office Accounting.
After you restart the program, the toolbar will include a Tax Returns menu.
Import tax lines
When you import tax lines into Office Accounting, you select your company's legal status and the tax preparation software that you are using. The tax line information that is imported into Office Accounting is based on your selections.
- On the Tax Returns menu, click Import Tax Lines.
- In the Import Tax Lines dialog box, do the following:
- Click the arrow next to Organization of your company and select the type of organization that best describes your company (One Owner 1040, Partnership LLC 1065, Corporation C 1120, or Corporation S 1120S).
- Click the arrow next to Type of Tax Software and select the tax software that you are using.
- Click OK. A confirmation message appears indicating that the tax line information has been imported successfully.
Map tax lines to financial accounts
After you import the tax lines, you can map financial accounts in Office Accounting to the appropriate tax form lines.
- On the Tax Returns menu, click Setup Tax Mapping.
- In the Setup Tax Mapping dialog box, in the From field, enter the starting date of the financial period that includes the information that you want to export, or click the arrow to open the calendar.
- In the To field, enter the ending date of the financial period that includes the information that you want to export, or click the arrow to open the calendar.
- In the Tax Line column, click the arrow, and then select an appropriate tax form line for the financial account on the same line.
Note The Setup Tax Mapping dialog box lists all accounts in your chart of accounts; however, only certain accounts require corresponding tax lines. If you are unsure about which financial accounts to associate with tax lines, consult a tax professional.
- When you have completed the mapping , click one of the following:
- Import Tax Lines Opens the Import Tax Lines dialog box to update tax line information.
- Save Mappings Saves the mappings between the tax lines and your financial accounts. You must save the mappings before you can export your tax file.
- Save and Close Saves the mappings and closes the dialog box.
- Export Tax File Creates a .txt file containing your mapped financial information. You can import this file into your tax preparation software.
Export the tax file
When you export the mapped information, you save a file on your hard disk that you can import into your tax software.
- In the Setup Tax Mapping dialog box, click Export Tax File.
- In the Save As dialog box, in the File name field, type a name for the file.
You will be prompted to save the file to the following location on your hard disk. To select a different location for the file, click Browse.
Vista drive:\Users\user name\Documents
XP drive:\Documents and Settings\user\My Documents
- Click Save. A confirmation message appears indicating that the file has been exported successfully.
Import the tax file into your tax preparation software
After you export the tax file, you can import it into your tax preparation software.
Uninstall the Tax Integration add-in
To uninstall the Tax Integration add-in, follow the steps below. We recommend that you uninstall the Tax Integration add-in before you uninstall Office Accounting.
In Windows Vista
- Exit all programs.
- On the Start menu, click Control Panel.
- In Control Panel, under Programs, click Uninstall a program.
- In the list of installed programs, click Microsoft Office Accounting Tax Integration add-in, and then click Uninstall.
- Follow the instructions on the screen to uninstall the program.
In Windows XP
- Exit all programs.
- On the Start menu, click Control Panel.
- In Control Panel, double-click Add or Remove Programs.
- In the Currently installed programs list, click Microsoft Office Accounting Tax Integration add-in.
- Click Remove.
- Click Yes.
Frequently asked questions
Can I use the Tax Integration add-in with Small Business Accounting 2006?
No. This version of the Tax Integration add-in works with the following Office Accounting programs only:
- Microsoft Office Accounting Professional 2008
- Microsoft Office Accounting Professional Plus 2008
- Microsoft Office Accounting Standard 2008
- Microsoft Office Accounting Express 2008
- Microsoft Office Accounting Professional 2007
- Microsoft Office Accounting Express 2007
Does the Tax Integration add-in correct or analyze the tax line mappings for accuracy?
No. If you are unsure about the mappings, consult your accountant or tax advisor.
- For questions about importing your tax file into TaxWorks, call (800) 230-2322.
- For questions about importing your tax file into UltraTax, call (800) 968-0600.
About the author Rutuja Khanzode is a Program Manager in the Office Accounting group at Microsoft. She has been working on the Office Accounting team since the first release of the product in 2006.