Income tax settings now invalid and will be deleted.....

Legacy KB ID: 3826

Question

Why do I get the error: ‘Income tax warning:  Income tax settings now invalid and will be deleted in all accounts.  Continue?’ when I change the Tax Form Used on the Company Information Screen?

Answer

QuickBooks is able to map your income and expense accounts to an Income Tax Return Form.  You can print out the report from Reports > Accountant > Income Tax Preparation / Summary / to assist you in your tax return.

There are different Income Tax Returns for different entities and income and expense accounts must be mapped to specific questions in those Tax Returns.  The questions asked vary from one Return to another.

When the company file is created you are asked for which Income Tax Return will be used for this entity.  You have the options:

·         Individual Tax Return

·         Partnership Tax Return

·         Trust Income Tax Return

·         Company Income Tax Return

·         None

Accounts can be enabled to be included on the Tax Return.  You will then be asked to link the account to a specific question on the return. 

 

Once accounts are mapped to one Income Tax Return that mapping cannot be carried over to another Income Tax Return.

You can change the Income Tax Return in Company Information, but when you do any existing mappings will be deleted. 

 

Solution

Select the appropriate Income Tax Return on the Company Information Screen.

Remap each account to the relevant question on the Income Tax Return:

  1. On the Chart of Account right-click the account and select Edit Account
  2. In the Tax-Line Mapping box, select the appropriate question
  3. Click on Save & Close.

 

Need more help?

Ask the Reckon Community at: https://community.reckon.com/

Or Log a Support Ticket: https://www.reckon.com/au/support/

How did we do?

Reckon Products and Windows and Windows Server Compatibility

QuickBooks Timer won't time, it stays at zero.

Related Articles

Permissible Income Tax Tracking Types per Income Type
Tax Settings
Two Income Statements in MyGov account (one 'Tax ready' and one 'Not Tax Ready')
Powered by HelpDocs (opens in a new tab)

Powered by HelpDocs (opens in a new tab)