Resource Guide · Thomson Reuters UltraTax CS

How to Use Ledger IQ with UltraTax CS

Everything from uploading the client's trial balance to a populated business return in UltraTax CS: mapping, adjusting entries, the tie-out, the import file format, and the Trial Balance Excel Import, in one walkthrough.

What you'll need

A trial balance export (Excel or CSV) from QuickBooks or any general ledger
A free Ledger IQ account at portal.ledgeriq.ai
UltraTax CS with the client's return created (1065, 1120, or 1120-S)
About 15 minutes for a first-time setup; a few minutes per client after that

Export the trial balance from your accounting software

Start with a trial balance export from whatever your client's books live in. From QuickBooks: Reports → Trial Balance, set the report period to the tax year, and export to Excel. Any general ledger package works the same way. Ledger IQ accepts Excel (.xlsx) and CSV files.

Tip

Don't spend time cleaning the file up. Ledger IQ's parser handles the messy real-world variations: extra header rows, debit/credit columns or a single balance column, negative numbers in parentheses, subtotal rows. Upload it as it comes out of the accounting software.

Create the company in Ledger IQ

Return type: 1065 (partnership), 1120 (C corporation), or 1120-S (S corporation)
Tax software: choose UltraTax CS
Tax year

The return type and software selection load the matching tax-line mapping workbook behind the scenes, so the mapping dropdowns you see in the next step are the actual UltraTax CS lines for that form.

Upload the trial balance

Drag the file into the upload area (or click to browse). Ledger IQ reads the file and shows a quick column-confirmation dialog: verify which column is the account name and which hold the amounts (debit/credit or balance). Confirm, and the trial balance appears as a grid with every account on its own row.

Note

The totals row at the bottom shows debits and credits immediately, so an out-of-balance file is caught the moment it lands, before any mapping work happens.

Map accounts to tax lines and review every suggestion

Click Suggest Mappings. Ledger IQ assigns each account to a UltraTax CS tax line using three layers: your firm's own history (how you mapped this account before), a rule library built by CPAs, and an AI layer for the odd ones. Suggestions appear highlighted with a review bar at the top.

The review gate in Ledger IQ

💡 12 mapping suggestions pending your review. Accept or dismiss each before exporting.✓ Accept all

⬇ Export (disabled)The import file cannot be generated while suggestions are unreviewed.

Every suggestion must be accepted or dismissed by you. The export button stays disabled until the review queue is empty. Accounts the engine isn't confident about are left blank for you to map manually with the dropdown on each row.

Tip

Multiple accounts can map to the same tax line: five cash accounts, a dozen "Other deductions" items. Ledger IQ keeps each account as its own line in the import file, so the detail survives into UltraTax CS instead of being lumped into one number.

Post adjusting entries

Book your period-end adjustments right in the workspace using the pencil icon on any account row. Three entry types are supported, and the distinction matters for what reaches UltraTax CS:

Type	Used for	In the UltraTax CS import file?
AJE	Book adjustments: depreciation, accruals, prepaids	Yes
RJE	Reclassifications between accounts	Yes
TJE	Tax-only (book-to-tax) adjustments, e.g. the 50% meals limitation	No (workpaper only)

Why TJEs stay out of the import file

UltraTax CS applies statutory book-to-tax adjustments itself (meals limitations, penalties, and so on) from the full book amount you import. TJEs exist so your workpaper shows the same tax balance UltraTax CS will compute. They are documentation, not data entry. Booking them as AJEs would double-count the adjustment.

Tie out the Working Trial Balance

Switch to the Working TB view. It's the classic tax workpaper layout: Unadjusted → Adjustments → Adjusted → Tax Line (with Tax Adjustment and Tax Balance columns appearing when the company has TJEs). The totals row proves the workpaper ties: a green check at $0.00, red if anything is out of balance.

Click any adjustment cell to see the balance build-up: unadjusted balance → each entry line → adjusted balance.
Click a tax line to open a mini leadsheet: every account mapped to that line and the total flowing to the return.
The Entries view lists every journal entry as a numbered card with debit/credit totals.

When the totals row shows the green check and there are no unreviewed suggestions, the workpaper is ready to export.

Export the UltraTax CS import file

Three export buttons sit above the grid. Trial Balance and Journal Entries produce Excel/PDF workpapers for your file; UltraTax CS Import generates the file UltraTax actually reads.

Export toolbar in Ledger IQ

⬇ Trial Balance⬇ Journal Entries⬇ UltraTax CS Import

Click UltraTax CS Import, give the file a name (the client name works well), and a CSV downloads. It has four columns: an account number, the original account description, the UltraTax tax code that routes the amount to the right input screen, and the whole-dollar adjusted balance:

acme-corp.csv (UltraTax CS import file)

Account Number*	Description*	Tax Code*	Amount*
1001	Chase Checking	400	15,000
1002	Wells Fargo Savings	400	8,200
2001	Accounts Payable	440	-4,300
4001	Gross Receipts	500	-512,400
6001	Office Supplies	662	1,180

* Column labels shown for reference only. The actual file has no header row.

About the account numbers

UltraTax requires an account number on every imported line, so Ledger IQ assigns them sequentially by section: assets from 1001, liabilities from 2001, equity from 3001, income from 4001, cost of goods sold from 5001, deductions from 6001. They exist to keep lines distinct; they don't need to match your client's chart of accounts. When several accounts share a tax code, the account numbers keep each one visible on UltraTax's detail pages.

Import into UltraTax CS

Now switch to UltraTax and pull the file in:

Open the client in UltraTax CS, using the same entity type and year as the Ledger IQ company.
Go to Utilities → Trial Balance (Excel) Import.
Browse to the CSV you exported. Your browser saves downloads to its default folder (usually Downloads). Make sure that folder is reachable from the machine UltraTax runs on.
First time only: the wizard asks you to identify each column with dropdowns. Point it at Account Number, Description, Tax Code, and Amount as shown above (Ledger IQ files are single-unit, so there's no unit column to assign). Save the column mapping under a name like Ledger IQ.
Every import after that: choose "Use a previously defined mapping," pick your saved Ledger IQ mapping, and go straight through.
Finish the wizard. UltraTax summarizes the balances by tax code, applies whole-dollar rounding, and carries the amounts to the return's input screens.

Where to look after the import

The amounts land on the input screens (organizer screens), routed by tax code, not directly on the forms. Open the balance sheet and income statement input screens to verify, then let UltraTax build the forms from there.

Before you move on: the tie-out checklist

Two minutes here saves a review note later.

Working TB totals row shows the green check at $0.00
Every mapping suggestion accepted or dismissed (review bar cleared)
TJEs booked for book-to-tax items so the workpaper matches what UltraTax will compute
Balance sheet (Schedule L) ties in UltraTax after the import
Key lines spot-checked on the input screens: cash, gross receipts, officer comp, retained earnings
Adjusted Trial Balance + Journal Entries exports saved to the workpaper binder

UltraTax questions we hear most

Preparing returns in Lacerte or Drake too? Read the Lacerte guide → Read the Drake Tax guide →

Ready to try it with your next UltraTax CS return?

Free during early access. No credit card, no billing, no strings attached.

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