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TaxWise backup instructions for data conversion


TaxWise backup instructions for data conversion

Before you start:

  • Calculate all client files in your original program.
  • Remove any locks.
  • Remove any passwords

  • Individual (1040)
  • Partnership (1065)
  • Corporation (1120)
  • S-Corporation (1120S)

  1. Create a new folder on your C: drive named ConversionData before you begin the backup process (e.g., C:ConversionData).
  2. Open the TaxWise program.
  3. On the Tools menu, click Backup to Disk.
  4. In the Backup Options dialog box, click Start a new backup, then click the OK button.
  5. In the Select User dialog box, click the folder containing the clients you want, then click OK  - OR - To select multiple folders, press and hold [Ctrl], click each folder containing the clients you want  - OR - If you want to backup all files, click Select All.
  6. Click the OK button.
    1. Note: if multiple folders are selected, a separate Backing Up From dialog box appears for each folder selected. You will need to repeat steps 7 and 8 for each folder selected.
  7. In the Backing Up From dialog box, click the Select All button.
  8. Click the OK button.
  9. In the following dialog, set the drive and directory to C:ConversionData.
  10. Click the OK button.
  11. On the File menu, click Open Return.
  12. In the Return List window, click the Export button on the bottom right.
  13. In the Return Grid Output dialog, set the following:
    1. Export Type as Comma Separated Values (.CSV)
    2. Export Folder to C:ConversionData
    3. Export Filename to ReturnGridExport
  14. Click Export.

Open C:ConversionData to view the files that have been backed up. A valid TaxWise backup contains 2 files with the name BACKUP. One will have an extension of .001 and the other will have .OPT. You will also have a file named ReturnGridExport.csv. All these files are required for a valid submission.

What items will be converted?

The main purpose of this conversion is to get your data ready for the following tax year. Therefore, viewing a Form 1040 will not display the same results that had been filed. The conversion is very limited and includes only the basic information in the following PDF document.

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