In the perfect world of public accounting (I know that does not exist), the client should send you the trial balance. You should be able to punch in the numbers. You get to the correct book income number and your balance sheet would tie in.
But more often than not, that is not the case.
My mantra for doing any corporate tax return. First tie in the retained earnings, before doing anything else.
A small little smile comes on the face when it ties in the first go. :)
But more often than not, that is not the case.
My mantra for doing any corporate tax return. First tie in the retained earnings, before doing anything else.
A small little smile comes on the face when it ties in the first go. :)
