Closing Tax Returns

Depending on conditions, such as your product licenses, firm settings, and the state of the return, various scenarios can occur when closing returns.

1. From an open return in Tax, select on the Application menu.
2. If you have not saved changes, the system prompts you to save the return. Click Yes to save changes.

Alternate Scenarios

When closing returns, additional conditions can occur, depending on the following circumstances:

Update status and send to Workstream.

If all of the following additional conditions are true, the option to update the return and project statuses displays after closing a return:

• A Workstream license is assigned in your staff profile.
• Workstream is installed on your machine.
• The return is linked to a project.
• The Workstream option to update project status is enabled in the return configuration set.

If any or all of the condition are not met, you can update the return status, but you are not able to update the project status.

See Sending Return and Project Status Updates to Workstream for more information.

A time clock is running.

When closing a return with a running time clock, the Enter Transaction window displays, allowing you to enter transaction information and post the time transaction to Practice. For more information, see Sending Time Clock Transaction Detail to Practice .

Common data has changed.

When saving tax returns, if the ability to transfer information between Tax and Client is selected for your firm and common data Data fields used in two or more applications, such as client ID, sort name, and email address, that are shared between products. has changed in the tax return, the Update Client Profile window displays the changed information. You have the option of selecting the updates to apply to the client profile.

• Apply all updates. Click Apply Updates to apply all updates for the listed fields to the client profile. 
• Apply updates selectively. Apply changes selectively by clearing the check box next to individual items and clicking Apply Updates. Only selected information is applied to the profile. Do not select changes that affect only this return and should not replace previous client information.
• Apply edited updates. Change any of the editable entries in the Value column and click Apply Updates. Edits made in the Client Profile window are applied in the client profile, but not the return. 
• Bypass all updates. Click Bypass Updates to avoid entering the updates in the client profile.

Warning! Select to bypass updates only in special circumstances when there is a business reason to save updates to client data only in the return.

Notes:

• For information about opening tax returns in Return Manager, see Opening Tax Returns and Templates.
• See Sharing Common Data to find the client information that is common to Tax and Client Manager.