Import/Export Products

Trial Balance

Trial Balance enables you to import trial balance data from spreadsheets, audit packages, general ledger packages, databases, and client write-up packages for 1065 and 1120 returns. With these products, you can review imported information in tax format and make adjustments prior to merging the data into the return and computing.

New Features for Trial Balance

Supported Return Types

Trial Balance supports the following return types:

Form 1065: pages 1-5, Schedule M-3, and Form 8825 – Income from Rental Real Estate Properties, Other Rental, Portfolio Royalty Properties, Farm Activities
Form 1120: pages 1-5, Schedule M-3
Form 1120C: pages 1-5, Schedule M-3
Form 1120S: pages 1-4, Form 8825 – Income from Rental Real Estate Properties, Other Rental Properties, Farm Activities, Schedule M-3
Form 1120-F: pages 1-6, Schedule M-3
Form 1120-RIC: pages 1-4
Form 1120-REIT: pages 1-4, with Real Property schedules
Form 990: page 2 and pages 9-11.

After you post tax journal entries, you can merge this data with current year information and view or make changes in Organizer.

Import and Export Capabilities

Trial Balance allows import and export of data as follows:

Import	Export
.dif	.dif
Delimited ASCII	Fixed-width ASCII
Fixed-width ASCII	Access®
Excel®	Excel®
.xml

Reports

The following reports are available for all return types except 990 returns:

Detail and Summary Taxable Income
Detail and Summary Balance Sheet
Detail and Summary Property-by-Property, Rental, Other Rental, Royalty, Farm
Detail and Summary Schedule M-1
Detail and Summary Taxable Income Variance
Detail and Summary Schedule M-1 Variance
Summary Schedule M-2
Detail and Summary Schedule M-3
Adjusting Journal Entries
Workpaper Notes
General Ledger Account Sequence
TRC and TCC Summary
MRC and MCC Summary

Partner Bridge and Shareholder Bridge

Partner Bridge

Partner Bridge provides the import and export of Data Interchange Format (.dif) files containing partner information such as partner name and address, entity type, profit/loss/ownership ratios, capital account data, and special allocations.

These capabilities decrease the need for extensive year-to-year manual updates to partner information. You can use Partner Bridge to export partner information and special allocations that can be used with most popular spreadsheet packages.

Partner Bridge Tool provides audit capabilities of the data entered in the DIF file.

Shareholder Bridge

Shareholder Bridge provides the import and export of basic shareholder information. Using Shareholder Bridge, you can export the information that can be used with most popular spreadsheet packages.

Compatible Software/File Formats

Spreadsheet

You can import data from Microsoft® Excel® spreadsheets directly into Trial Balance.

Database/ Other

You can import data, including mini- and mainframe computer data, from the following databases and other programs into Trial Balance:

Character-delimited files (.dlm or .csv)
Data Interchange Format (.dif) (see note below)
Text File Format (standard ASCII/PRN)

For the 2020 tax year and going forward, you can no longer create or edit DIF/KAT files, although you can continue to use the current DIF/KAT files supplied by Thomson Reuters as long as no changes are required to these files.

The Partner of the Firm import/export is no longer available starting with this tax year. All fields that were available with the Partner of the Firm import/export are now available with Data Connection, using the same form and field names.

Import and Export Tools

Data Import Templates

Data Import Templates are available for download from the Thomson Reuters Customer Center. These import templates are based fully in Excel and are listed below:

	1040	1041	1065	1120
Asset Template	P	P	P	P
Brokerage Statement	P
Capital Gain Template	P	P	P	P
Charitable Contributions	P
Crypto Gain	P
K1 Template	P	P
PFIC Template	P
Schedule C	P
Schedule E	P

Each template is set up similarly, with multiple tabs that are similar in nature, but each template has a different purpose. The first tab for each template is the TR_Setup tab. This tab includes required information and an Audit Data button.

Direct K-1 Import (DK1)

The Direct K-1 Import Tool (DK1) allows you to import partner information directly to the federal Schedule K-1 forms and to selected State Schedule K-1 forms utilizing the Data Connection platform and CSV files.

Data Connection

Data Connection is a Thomson Reuters income tax compliance productivity tool that allows users to import data into and export data from tax returns.

Data Connection requires a separate license.

Data Connection Exports

During an export of a tax return locator, Data Connection exports the value of every area, screen, and field defined in the corresponding tax application Build report data dictionary, as long as the data field is populated by active data (that is, a data value that is not a constant or a carried value).

Data Connection Imports

For imports, the user defines the form and field name combinations and associated data field values in the import file, which is processed record-by-record against the appropriate tax application Build report data dictionary.

If the form and field name combination in the import record is located in the tax application Build report, the associated data field value is inserted into the corresponding area, screen, and field location in the tax return database. If the form and field name combination in the import record is not located in the tax application Build report data dictionary, the import file data field value is ignored.

Only Organizer data is imported. Data elements classified as Tax Forms and Workpapers are not imported, even if corresponding form and field name combinations exist in the tax application data dictionary.

RS Resources/import_export.htm/TY2021

Last Modified: 10/20/2020

Last System Build: 09/25/2022