Table of Contents

Chapter 1: Installation
Hardware Requirements.......................................................................................................... 1
Special Setup for Windows Vista ........................................................................................... 1

Chapter 2: Moving around in the program

Menu ....................................................................................................................................... 4
Toolbar .................................................................................................................................... 6

Chapter 3: Setup
Setting up a Company ............................................................................................................. 9
Setting up Payroll Defaults ................................................................................................... 16
Converting Data from Quickbooks ....................................................................................... 19
Opening an Existing Company ............................................................................................. 23
Close a Company .................................................................................................................. 24
Setting up the Chart of Accounts .......................................................................................... 25
Setting up Vendors and 1099 Employees ............................................................................. 27
Setting up Employees ........................................................................................................... 28
Entering Other Withholdings ................................................................................................ 32
Setting up W-2 Information .................................................................................................. 33
Setting Up the State Unemployment Worksheet .................................................................. 34
Setting up Customer Sales .................................................................................................... 41
Setting up Sales tax ............................................................................................................... 43

Chapter 4: Entering Daily Work

Deposits................................................................................................................................. 45
Payments ............................................................................................................................... 48
Payroll ................................................................................................................................... 52
Journal Entries ...................................................................................................................... 56
Bank Reconciliation .............................................................................................................. 57
Voiding a check .................................................................................................................... 58
Setting up Inventory.............................................................................................................. 61
Setting up Depreciation......................................................................................................... 64
Delete a Company ................................................................................................................. 66
Backup a Company ............................................................................................................... 67
Restore a Company ............................................................................................................... 69

Chapter 5: Printing Reports and E-Filing

Reports .................................................................................................................................. 70
Printer Setup.......................................................................................................................... 72
E-File 941s ............................................................................................................................ 74
E-File W-2s ........................................................................................................................... 78

Chapter 6: Other Topics

Network Setup ...................................................................................................................... 82
On-line Help.......................................................................................................................... 84
Support Website .................................................................................................................... 85
Video Tutorials ..................................................................................................................... 86
Email Support ....................................................................................................................... 87
Configuration ........................................................................................................................ 88
 Chapter 1: Installation

Hardware requirements
In order for TaxSlayer Books to work smoothly, we recommend the following as requirements
for your computer and operating systems:

Computer System:
Computer: 2.0 GHz or higher
Memory: 512 MB of RAM
Hard Drive: 750 MB of hard drive space

Operating System: Windows XP SP2

Printer: 100% HP Compatible Laser printer
Resolution: 1280 x 1024 or higher
Internet/Modem: High speed internet connection

** Windows 95, 98 and ME and NT are no longer supported

*** Inkjets not recommended for check printing

Windows Vista
Users of the Microsoft Windows Vista operating system must run the program shortcut as an
administrator. To set this option, complete the following steps after installing the TaxSlayer
Books program:
1. Right-click on the ‘TaxSlayer Books’ icon on your desktop
2. Select ‘Properties’
3. From the Shortcut tab, select the ‘Advanced’ button
4. Click to place a checkmark in the box labeled ‘Run as administrator’
5. Choose ‘OK’ to exit out of the option and the properties screens

1
After you right-click on the
TaxSlayer Books icon, select
‘Properties’ from the list

Click on the ‘Advanced’ button

2
Click to place a check mark in the
box ‘Run as administrator’

3
 Chapter 2: Moving around in the program

In the Main Menu Screen, you will find the Menu Bar. You may choose to move around the
program by using either the pull down menus or the icons at the top of the screen.

Let’s take a look at the drop down menu options and their functions:

1. File
Open Company
New Company
Delete Company
Close Company
Default Printer
E-File Setup (if you have electronic filing add-on)
Send Backup to/Receive File from TaxSlayer Support
Get update
Exit

4
2. Setup (Using the keyboard, you may complete the function by striking the letter that is underlined)
Passwords
Date
Company
Chart of Accounts
Payroll Setup
Employees
Sales Tax
Customers - Sales
Vendors - Purchases
Inventory
Depreciation

3. Daily Work
Date
Sales
Deposits (Receipts)
Purchases
Payments
Payroll
Journal Entries
Voids
Reconciliations
Inventory Adjustment

4. Reports
Chart of Accounts
Accounts Receivable
Accounts Payable
Payroll
Trial Balance
General Ledger
Financial Statements
Reconciliations
Tax Returns
Inventory
Journal Entry
Monthly Reports
Sales
Depreciation Statement
Employee Information
Transaction Journal
Print Blank Forms

5
 5. Maintenance
Backup Company Data to Alternate Location
Restore Company Data
Backup All Companies
Full restore from Prior Backup (Only use this with advice from TaxSlayer
Support)
Restore All From Automatic Backup
Import from Quick Books
Reindex Files
Rebuild Indexes
TaxSlayer Books Configuration

6. Help
Help
TaxSlayer Web - Frequently Asked Questions
TaxSlayer Web - Video Tutorials
About…

Another way to get around in the program is to utilize the toolbar:

1. Open Company

2. Close Company

3. Setup

4. Change the Reporting period

5. Deposits (Receipts)

6. Payments

6
7. Payroll

9. Journal Entries

10. Reconcile

11. Reports:
Chart of Accounts
Accounts Receivable:
 Deposit Register
 Customer List
 Aging Accounts Receivable
 Accounts Receivable Statements
Accounts Payable:
 Check Register
 Vendor List
 Aging Accounts Payable
 Voided Checks
Payroll:
 Regular
 Quarterly
 Year-to-Date
 Commission Less Draw
 Tax Liability report
 Form 941
 Form 941-V
 Form W-2/W-3
 Form 1099/1096
 Form 940
 State Unemployment reports
 Employee Information
 Print Blank Payroll Forms
Trial Balance
General Ledger
Financial Statements
 Balance Sheet
 Income Statement – Master
 Income Statement – Departmentalization

7
  Income Statement – Master w/Budget
 Income Statement – Departmentalization w/Budget
 P&L 3 Year Comparison
 Change Report Titles
Reconciliations
Inventory
Journal Entries
Create/Print Default Reports

12. Tax Return

13. Backup

14. Configuration

15. Help

8
 Chapter 3: Setup

Setting up a Company
Select the Open Company
button on the toolbar

A new screen titled Open/ Create New Company will appear.

Click on the Create a new company button

The New Company Information screen is displayed.

9
 Enter the Company ID (Name). This name
will display on Tax Forms and Reports.
Enter the Trade name, Owner/Contact Name,
and the address information.

The next screen prompts you to identify the entity type of the company.

Sole Proprietor: someone who owns a business; he is the only owner.

A sole proprietor files a schedule C tax return.

10
Partnership: a business that is owned by two or more persons who pool their resources
and share the resulting profits and losses.

A partnership would file a 1065 tax return.

Corporation: a business whose articles of incorporation have been granted within the
state of operations.
A corporation would file an 1120 tax return.

S- Corporation: is a corporation whose primary income is derived from providing

services of some kind. This includes doctors, lawyers, business consultants, and others.
The rules for an S-Corporation are different from those of a Corporation.

An S-Corporation would file an 1120S tax return.

Personal: An individual account that is non-business related.

A personal account would file a 1040 (personal income and expenses)

11
Choose the Accounting Method

The Accounting Method is generally the method that the company first filed with the IRS
unless they have filed Form 3115 to change the company’s method of accounting.

Cash Method: basis of accounting in

which transactions are recorded when
cash is received (revenue) or paid
(expense). This is the most common and
recommended method for small
businesses. Our software will default to
this method.

Accrual Method: basis of accounting in

which transactions are recorded at the point
that revenue is earned or an expense is
incurred, regardless of when cash is received
or paid. Income is recorded when the sale
occurs, whether it is the delivery of a product
or the rendering of a service to a customer.
An expense is recorded when goods are
received or services have been performed for
the company’s benefit.

Click on NEXT

12
Enter the Tax Year for the company. The Tax Year refers to the 12-month reporting period used
for tax purposes and may be based on a calendar year (Jan. 1 – Dec. 31) or a fiscal year (for
example, July 1 – June 30). TaxSlayer Books calculates the end date of the tax year as 12
months from the beginning date entered. The Tax Year Begin date does NOT refer to the first
day of transactions for a new company unless the business begins operations at the start of its tax
year.

Tax year begins: Please enter January 1st if the company is on a calendar year. If the company
has a required tax year, then the tax year is based on the filing of the company’s first income tax
return with the IRS. See Publication 538 for specific information on Accounting Periods.
http://www.irs.gov/formspubs/index.html?portlet=3

Note: The Year that you enter on this screen will dictate the year in which you can begin
entering transactions in TaxSlayer Books. For example, if you want to use the program
to record transactions that occurred in 2007, be sure to use 2007 as the year. If you are
creating a calendar year company that began operations today, use 01/01/2008 as the tax
year begin date.

Next, fill in the following:

Federal Employer ID or (EIN): This is the nine digit number issued to your company by
the IRS. This number is also known as the EIN (Employer Identification Number). If you
do not have a Federal Employer ID, you may obtain one by submitting Form SS-4 or call
1-800 TAX-FORM to get the form. http://www.irs.gov/formspubs/index.html?portlet=3

State Withholding ID: Assigned by the state for reporting purposes. If you do not have
one, check with your state in order to obtain the ID number.

State Unemployment ID: Assigned by the state Department of Labor for reporting
purposes.

Click Next

13
Verification Screen

Note: Please pay close attention to the items in red. It is very important that this information is
accurate as it cannot be changed once it is saved.

After all of the information is verified, click the Save button.

Once you click Save, you will see a window with the following message:

14
At this point in the set up process, you will be asked to create a Chart of Accounts. We
recommend our default Chart of Accounts. The program will default to this option. You also
have the option to copy an existing TaxSlayer Books Chart of Accounts, or you may create your
own Chart of Accounts.

Next, you will have the opportunity to enter beginning balances for your accounts.

If you select yes, the Chart of Accounts Beginning Balances

screen will appear.

15
Enter beginning balances for your accounts. Total debits must equal total credits. An out of
balance message will appear if you click on Finish without resolving a difference. You
cannot work in the program if your accounts are out of balance.

Next, you may set payroll defaults for the company.

Once you click on yes, you will see the Company Payroll Defaults screen.

16
This is the payroll GL tab.
If you are using the
recommended default
chart of accounts, then the
withholding accounts are
automatically assigned to
the proper GL account.

When setting up other

payroll withholdings, select
the Other Withholdings tab

Click on the drop down and you can

choose from a list of common
withholdings

Click here to add or edit other

withholdings as appropriate
for your company

17
Other Additions Tab

You may choose

from a drop-down list
of other additions

If you need to add or edit

your other additions, click
here

18
Converting Data from QuickBooks

1. Open your company in QuickBooks.

2. Choose the menu option File  Utilities  Export  Lists to IIF Files…

3. Select Chart of Accounts, Customer List, Vendor List, and Employee List.

19
4. Save the IIF file to your Desktop. Name it the Company name with an .IIF extension.

5. You will get a message similar to the following when the export is complete:

6. Open TaxSlayer Books and click on Maintenance. Select Import from QuickBooks.

20
7. Create a New Company in TaxSlayer Books for the company that you will import from
Quick Books.

8. Find your company.IIF file and import.

21
9. You will receive the message below. Click OK

10. Select the appropriate month, then click “OK”

11. The following message will appear stating that the import is complete. Once you have
verified that the Retained Earnings balance is correct, click “OK.”

22
Open an Existing Company

To open an existing company, simply click on the Open Company

button on the toolbar.

A pick-list containing all of the companies entered in TaxSlayer Books will appear. To open a
company, simply click on the company’s name to highlight it and then click OK.

Once the company is opened, the TaxSlayer Books

Version number, the company name, and the current
reporting period will appear at the top of the screen.

23
Close Company

You can close a company file using the menu by choosing File, then Close Company.

Or you may click on the Close Company icon on the toolbar

24
Setting up the Chart of Accounts

a. Create Default Accounts: The default chart of accounts button will quickly generate a chart
of accounts based on the entity type (C-Corp, S-Corp, Partnership, Sole Proprietorship, or
Individual).

Note: The chart of accounts (COA)is the foundation of your accounting records.
Account numbers are used as an easy account identification system. TaxSlayer Books
will allow you to create your own COA with account numbers up to 10 digits in length.

If you used the default chart of accounts as recommended in the software, the chart of
accounts was based on the entity type selected for the company at the company setup.
You may review your chart of accounts by choosing Reports from the menu bar or
clicking on the Report icon on the toolbar, then selecting Detail Chart of Accounts list.
Accounts can be added, edited, or deleted by selecting Setup, then Change Chart of
Accounts.

b. Copy Existing Accounts: You can copy the chart of accounts from an existing company in
TaxSlayer Books as long as the entity type is the same.

c. Create your own Chart of Accounts:

25
1.) Type in an Account Number up to 10 digits in length.

Your chart of accounts will be more meaningful if you follow a consistent

numbering system. For example, accounts beginning with a 1 indicate assets, a 2 for liabilities,
and so on as follows:

10000-19999 Assets (accounts receivable, equipment)

20000-29000 Liabilities (accounts payable, payroll withholdings)
30000-39999 Equity
40000-49999 Income
50000-59999 Cost of goods
60000-69999 Expenses
70000-79999 Other income
80000-89999 Other expenses

2.) Enter or Tab to the next field and enter the Account Name assigned to the Account Number.

Remember that this is the name that will appear on the reports for this account.

3.) Select the appropriate Account Type and Tax Type.

Be sure to select the correct tax type for each account based on the entity type you have
selected. This is what TaxSlayer Books uses to transfer the Tax Return data into TaxSlayer Pro.

4.) Select a Rollup account, if appropriate.

5.) Enter the beginning balance date and beginning balance amount.

26
Setting up Vendors and 1099s

To begin: Select a uniform Vendor ID System. This may be Alpha or Numeric and should be
unique to each Vendor. In the Purchases and Payments screens, you are able to pull up a Vendor
by typing in the ID in the Vendor ID field. Choose an ID that simply identifies the vendor for
ease when recording a Purchase or Payment.

Enter the unique Vendor ID in the Vendor ID field and then Enter or Tab to the next field.

Enter the Name of the Vendor. This is the name that will appear on printed checks, and on the
1099, if applicable.

Enter the Federal ID# or Social Security Number. This information is important if you will be
printing 1099s.

Enter Address, Phone, and Fax number for the vendor.

27
Enter the GL default account.

This is the account that should be used when posting expenses-purchases from this
vendor. For example, purchases at Office Depot can be posted to Office Supplies in most cases.
However, if you need to record a particular purchase to a different account, you will be able to
change the account when necessary, such as posting the purchase of office furniture to a
Furniture and Fixtures account.

Setting up an Employee

Note: If you have not already done so, please CREATE YOUR PAYROLL DEFAULTS to
include G/L ACCOUNTS, OTHER WITHHOLDINGS and OTHER ADDITIONS in Company
Setup before creating your EMPLOYEES.

Click the Setup button on the toolbar

28
 Select the New
Employee button

The New Employee Information screen will appear.

Enter the Employee ID (or

Payroll Number). This ID
may be Numeric or Alpha

Enter the employee’s

first name, middle
initial, last name, and
social security
number.

Note: The items in red are required fields. The information entered here is used to populate the
W-2.

Click on Next.

29
 Federal
Fill in the Federal allowances
Status. The income
withholdings will be
determined by Federal State Status
Status.

State where the

employee works
State allowances

Then Click on Next

TaxSlayer Books New Employee Entry Screen 3 will appear. In this screen you will enter the
employee’s Pay Information.

Compensation:
choose Hourly or
Salaried and enter the
rate of pay per pay
period

Pay Period: Indicate how

often the employee will be
paid

Click Save

30
 You will see the Additional Information Screen.

Click here to enter

beginning balances

Entering the beginning balances for an employee

If you begin using the program mid-year, but plan to print W-2s for the year’s payroll, you will
need to enter the year to date information for each employee as of the date you begin. For
example, if you will print payroll checks beginning August 1; enter the year to date payroll
information through July 31.

Once you have entered the year to date balances, click SAVE.

31
 Entering other withholdings

To enter beginning
balances of other
withholdings, click on this
button

Note: The other withholdings that appear here were established for the company during the
Setup process. You may add additional other withholdings for any employee through the payroll
setup screen.

Check the Pre Tax

box if the
withholding is
exempt from taxes

You can enter an

amount or a
percentage for the
employee

32
 Setting up W-2 information

Click here to setup the

employee’s W2
information

Here is where you Box 13: select option

would enter your Box 20: Enter the name of the
allocated tips or locality.
nonqualified plans

Once you are done entering your W2 information, click on SAVE

33
Once you have entered any additional information, click FINISHED.

Setting Up the State Unemployment Worksheet

After you have set up the company, you will have to set up the State Unemployment rates for
that company. Click on the Setup button from the toolbar.

Click setup to set

your company’s
SUTA
The Setup screen will appear. Click on the Payroll Setup button.

34
Click on payroll
setup

The Company Payroll Setup screen is displayed.

Click on the upper right hand tab labeled Unemployment Setup.

35
 Click on the
Unemployment Setup
tab

Note: Each state sets its own Taxable wage limit (base amount). Our software will default to the
base amount based on the Company Setup information entered when you created the company.
Also be aware that some states may use other terminologies for the rate or the contribution other
than the one which is found on this screen. We recommend that you contact your State
Department of Labor if you have any questions regarding this matter.

Example:

Enter the base amount

set for your state

Enter the rates and/or

other fees that may
pertain to your particular
state

When you are finished setting up your state unemployment, click on SAVE.

36
 Now that the company’s unemployment defaults have been set up, the program will calculate the
State Unemployment for the employees in this company. To access the state unemployment
worksheet, choose Reports from the toolbar.

Click on reports on
the toolbar

The report categories will appear.

Click on the payroll

button

37
 Select State
Unemployment reports

Then click on OK.

Select the State Unemployment Worksheet.

Then click on OK.

This will then take you to the State Quarterly Report where you will be able to verify the
information. Remember the state will default according to the address of the company that was
entered in the company setup.

38
 Total amount due

Number of employees in
each month of the quarter

39
Once you are ready to print the work sheet, click on the “Print” button.

Employee’s
Name and
SSN

Amount due

Note: This report will list each employee with their social security number and the amount
earned for each quarter. The tax liability for each employee is shown, along with the total
amount due for the quarter.

40
 Setup Customers – Sales

To begin: Select a uniform Customer ID System. This may be Alpha or Numeric and should be
unique to each customer. In the Sales and Receipts screens, you are able to pull up a customer
by typing in the ID in the Customer ID field. Choose an ID that simply identifies the customer
for ease when recording a Sale or Receipt.

Enter a unique customer

ID and the Customer
name

Sales Rep
ID allows
you to
track sales
by rep
Enter the date
established.
This is the date
the customer
started doing
business with
the company.

41
 The Sales Information Tab

The GL Account on the Sales

Information Tab will allow you to
track Customer Sales consistently.
This is the default Sales account for Recurring monthly sales: If you have a customer with whom
the Customer; if you set this up in you deal with monthly, you can set them up as a recurring
the beginning, you can quickly post a monthly sale by checking the Recurring monthly box and
sale to this customer to the same GL entering the amount and day they typically pay you
account each time. If for some
reason you need to post a Sale to a
different GL account, you can
change the account while completing
the specific sale in Daily Work.

Select the appropriate

Sales Tax ID for the
Customer

You can mark customers you no longer do

If you have begun using TaxSlayer Books in business with as an Inactive Customer and
the middle of the fiscal year, you may have a they will no longer be displayed on Reports.
Customer with a beginning balance or amount
they paid you during the year. If so, enter the
Beginning Balance Date amount and As of
Date (i.e. you began using TaxSlayer Books
on 6/1/2007 - your beginning balance date
would be 5/31/2007).

42
 Recording Sales under the Accrual Method

If the company uses the accrual method of

accounting, enter the Accounts Receivable
GL account number here

Setting up Sales tax

From the Setup Menu, select Sales Tax:

43
 Enter the Sales Tax ID
number assigned to the
State Sales tax

Enter the Tax Percentage

Enter the Description
of the Sales Tax (the
authority who collects
the sales tax)

Enter the GL
Account #

44
 Chapter 4: Entering Daily Work

Deposits

Click the Deposits button on the toolbar

Use this option to record cash receipts. The Received tab is used to record cash receipts already
received (recording after the fact). Example: If you are posting a set of books for a small
business after the fact, you would record all receipts here. Use the Receivable tab to post cash
receipts that were originally set up under Sales.

1. The Received Tab (After the fact)

Select the Customer ID to identify the source of the payment, then press the <Tab> key.

45
The screen will fill with the defaults for the selected Customer.

Enter the Date, Deposit#, Amount and any other necessary information for this deposit. Click
the SAVE button to keep this information.

After saving, the Receipts - Daily Work screen will be clear so that you can record the next
deposit.

46
If you want to view previously entered Deposits for this Reporting Period, click the List all
Records button.

You can retrieve the previously entered Deposit by highlighting it and clicking Select.

2. The Receivable Tab (Post transactions from Sales)

Click on the Receivable tab in the Receipts - Daily Work screen.

The transactions entered in Sales are displayed. You can record the deposits individually or click
the Record All check box to record all deposits at once.

47
 Entering Payments

Click the Payments button on the toolbar

Use this option to print or record checks. The Paid tab is used to record checks already written.
This, like Receipts Received, is an after the fact posting. This tab would be used if you are
posting the books for a client. Use the Payable tab to post vendor invoices that were set up in
Daily Work under Purchases. This tab is used to print checks from the program. Currently, the
bookkeeping program supports four different check formats. All are three-part checks with two
check stubs either on the top and bottom of the actual check or both under the actual check.
Supported check forms can be ordered from Nebs; form numbers for the middle checks are
LM260C and DLM145, and top checks are LT103C and DLT162. You can contact Nebs at
(800)225-6380 or visit their website at www.nebs.com.

1. The Paid Tab (After the fact)

Select the appropriate Vendor

ID, then press the <Tab> key

48
The screen will pre-fill with
the defaults for the selected
Vendor, including the address
and GL Cash account #

Enter the Date, Description, Amount and any other necessary information for this deposit. Click
the Save button to keep this information. After saving the information, the Payments - Daily
Work screen will be clear so that you can record the next payment.

49
 2. The Payable Tab (Print Checks)

Click on the Payable tab in the Payments - Daily Work screen to print vendor checks

Click the New

Check button to
add more checks
to the list

You may also Click the Print button to open the

Check Number screen. Select the Vendors that
choose to pay all you want to print checks
the checks on the for. Put a check mark in
list at one time. the Pay box for the
Click Pay All checks that you will
print

50
 This is the Check Number Screen

Enter your Check Number, Check Date, and Check

Type. Then verify that your check forms are in the
printer, and click Ok.

51
 Entering Payroll

Use this option to print or record payroll checks. The Paid tab is used to record payroll checks
already written. This, like Payments Paid, is an after the fact posting. You would use the Paid
tab when recording a client’s payroll transactions. You would use the Payable tab if you were
preparing and printing actual payroll checks for employees. You may use the same check forms
described in the Payments section.

Click the Payroll button on the toolbar.

1. The Paid Tab (After the fact)

Select the Employee that you are paying, then press the <Tab> key

Paid Tab
for after the
fact
postings

The screen will pre-fill with the defaults for the selected Employee.

52
Enter the Check Date, Period Ending date, Check#, and any other necessary information for this
Payroll entry. Click the Save button to keep this information. After saving the information the
Payroll - Daily Work screen will be empty again, so that you can enter another payroll check.

If you want to view previously entered Payroll checks for this Reporting Period, click the List all
Records button.

53
2. The Payable Tab (Print Payroll checks)

Click on the Payable tab in the

Payroll - Daily Work screen

Select Type of Employees to pay; Hourly, Salaried, etc...

Select the Pay Period to pay, or choose All.

54
 Select the Employees to
be paid.

Put a check mark

on the pay box
for the check you
wish to print.

Click the Print button to

Enter your Check Number, Check open the Check Number
Date, and Check Type. Verify that screen.
your check forms are in the printer,
and then click Ok. 55
Entering a Journal Entry

Click on the Journal Entry icon on the toolbar. The Journal Entries – Daily Work screen is
displayed. The Entry Date is pre-filled based on the reporting period that you have open in the
program. If the entry relates to a different period, Cancel this process and change to the
appropriate period by clicking Change Period from the toolbar.

Enter an Entry ID as a reference for the transaction. Type a Description to identify the purpose
of the entry. Use the down arrow button to access the listing of accounts and select the account
that should be debited. Enter the amount in the debit column. Then select the account to be
credited, and enter the amount. Total debits must equal total credits for a balanced entry. When
you are finished, click Save. Below is an example of a journal entry to record bank charges.

56
 Bank Reconciliation

GL # for the account being

reconciled and the period for
Deposits and Debits will appear on the reconciliation
the first part of the reconciliation
screen

Put a check
mark in the
clear box for
each
transaction
that has
cleared the
bank in the Enter the
month Bank
Ending
Balance
Written from the
checks will Bank
appear in Statement
the second
portion of
the screen Once the account is reconciled, the
under Unreconciled Balance will be zero. Then click
checks and on CLOSE. The software will automatically
credits save the reconciliation.

Note: The bank reconciliation will pull from the transactions that were entered
in the daily work as payments, deposits, payroll, or journal entries. Remember this will
include After-the-Fact and Real-Time transactions. Be sure that you are using the bank
statement that corresponds to the period that you are reconciling. You can clear each
entry one by one by clicking in the box under Clear, or you can use the Clear All box if
all of the transactions for this period have cleared on the bank statement.

57
 How to Void a check

To void a check, first click on Daily Work from the Menu

Then choose Voids from the

menu drop-down list

Click in the box

under Void for the
check that you
want to void
A list of checks
recorded in the
period in which you
are working will be
displayed

58
 Once you
select the
check to be
voided, the
program
will enter
the date of
the void

To save the change,

click on void

You can access a Voided Check

Report by period or through a range
of dates by choosing the Accounts
Payable category under Reports

59
60
 Setting up Inventory

Note: You should only set up inventory if the company tracks their inventory.

To set up
inventory.
click on
Setup from
the menu
and select
Inventory
from the
drop down
list

61
 Inventory Setup screen (only if the company uses an inventory module)

Enter the item

number: the Enter the Unit
number Price: this is the
assigned this price per unit, for
inventory item example: each,
for tracking dozen, gallon, etc.
purposes
Unit Type: unit of
measure the item
is packaged in

Begin Qty
on Hand: Reorder Level:
the number point at which you
of units on need to replenish
hand as of your inventory
the day of
entry
Inventory Asset
Acct: the GL asset
account where
your inventory
value is reflected

Sales account: the GL acct Purchases Cost of

that will reflect the sales of Goods Account:
the inventory item the GL expense
account that will
Inventory Adjustment reflect the cost of
Expense Account: GL expense the inventory item
account used to record when a sale is
inventory adjustments recorded

62
 Inventory Adjustments

Typically, there will be a physical count of inventory items on hand at some point
in the reporting year. The inventory determined by the count will be compared to
the inventory levels recorded in the accounting system. Often, adjustments are
necessary to reflect theft, losses, or waste of inventory items. The adjustment can
be made as follows:

Choose Daily Work from the Menu

Then click on Inventory Adjustment

Enter the
Item # to
be adjusted

Adjustment
Quantity Reason for the adjustment

Click SAVE

63
Setting up Depreciation

Note: Only for companies that use the depreciation module.

Most new business equipment can be either depreciated over its useful life or expensed immediately under
Internal Revenue Code Section 179. The maximum deduction is based on the following schedule for the date
in which the tax year begins. Each 1040, whether Single or Joint, is limited to one maximum. 179 expenses
passed through via K-1s from partnerships (1065), S-corps (1120S), or trusts (1041) are limited at the
1040 level to the one maximum amount. A C corporation is able to deduct its own 179 expenses in addition
to what is claimed on the 1040s of the owners.

The following table is of the Federal maximums. Many states have not matched these amounts and have
much smaller allowable deductions. In those cases, it is critical to maintain two sets of depreciation
schedules; one for IRS and another for the State. Since the basis of an asset may be different for each tax
agency, the gain or loss on its disposal will similarly be different.

2006 $108,000
2007 $108,000 + COLA
2008 $108,000 + COLA
2009 $108,000 + COLA
2010 $25,000

For 2006 through 2009, the annual amounts are to be adjusted for inflation. Up until recently, the Section
179 election was only allowed on originally filed tax returns. People who overlooked it were not allowed to
claim it on amended returns. This new law allows the Section 179 expensing election to be claimed or
revoked on amended returns for 2006 through 2009.

Choose Setup from the Menu

Then click on Depreciation

64
 Description of the item
to be depreciated

Date placed in
Service: the date
that the company
began using the
item
Section 179
Refer to the
schedule

65
Delete a Company
To delete a company, simply click on File and then select Delete Company.

After selecting Delete Company, you will see a pick-list containing all of the companies you
have entered in TaxSlayer Books. Click on the company name to highlight it and then click OK.

66
Backup a Company

The options to Backup data from TaxSlayer Books can be accessed by choosing Maintenance
from the Menu.

Backup Company Data to Alternate Location

This option will backup an individual company to a user-specified location. With the Company
open, click on Backup Company Data to Alternate Location.

Click on Browse to select the

backup location and then click
Backup

You will see a status bar showing the files being processed. Once all files have been processed,
the Finish button will be highlighted. Click Finish.

67
Backup All Companies - This option will backup all of the companies at one time; in case of a
hard drive crash, this is the best option to be able to restore all companies at once. To do a
complete backup, close any open companies and choose Maintenance from the Menu. Click on
Backup all Companies. Use the Browse button to identify the correct path, click Save, Backup,
and then Finish. This backup creates a Folder on the drive selected called TSBBack along with
the month, day, and year (xx-xx-xxxx) of the backup as well as a Zip file named TaxSlayer
Books Data.

Backup Location in TaxSlayer Books Configuration - During Company Setup, you should set
the Backup Location in TaxSlayer Books Configuration (under Maintenance). Click on Browse
to change the path. Then Save.

68
Restore a Company

To restore a company, simply choose Maintenance from the Menu and then select Restore
Company Data.

After selecting Restore Company Data, type in the location of the company or click on Browse
to locate the company. Select the company file and click on Restore. You will see a status bar
showing the files being restored. Once all files have been processed, the Finish button will be
highlighted. Click Finish.

69
 Chapter 5: Reports
A variety of reports is available in TaxSlayer Books. You can access the report options by
selecting “Reports” from the Menu bar, or clicking the Reports icon on the toolbar.

Clicking on the Reports icon will activate the following screen:

Various reports are organized within each category.

Chart of Accounts
 Regular Chart of Accounts list
 Detailed Chart of Accounts list

Accounts Receivable
 Deposit register - displays transactions entered into the Receipts screen in the Daily Work menu
 Customer List
 Aging Accounts Receivable
 Accounts Receivable Statement

70
Accounts Payable
 Check register - displays transactions entered into the Payments screen in the Daily Work menu
 Vendor List
 Aging Accounts Payable
 Voided Checks

Payroll
 Regular
 Quarterly
 Year-to-Date
 Commission Less Draw
 Tax Liability Report
 Form 941
 Form 941-V
 Form W-2/W-3
 Form 1099/1096
 Form 940
 State Unemployment Repors
 Employee Information
 Print Blank Payroll Forms

Trial Balance
The trial balance report lists every account balance in the general ledger at a given period end.

General Ledger
The general ledger report displays all transactions posted to a period. You have the option to
generate the report for all accounts, a selected account, or a range of accounts.

Financial Statements
 Balance Sheet - Summarizes the assets, liabilities and owner's equity of a business at a
given point in time. The balance sheet reflects the company’s overall financial position.
 Income Statement - Summarizes revenue and expenses for a given period and reports a
profit or loss. This report reflects income and expenses for the current period as well as
year-to-date.
 P&L 3 Year Comparison
 Change Report Titles - This is an option to change the name of the financial statements
(for example, the Income Statement may be called the Statement of Operations).

Reconciliations
This report summarizes the cash transactions for the period. Once you have properly reconciled
your cash transactions to your bank statement using the Reconcile function, the report will reflect
a list of deposits-in-transit less outstanding checks at month-end.

Inventory
 Inventory History Report

71
  Inventory Reorder Levels report
 Sales – Daily Summary

Journal Entry
Displays date, account #, reference #, transaction description, and debit\credit information for all
journal entries in a given period.

Create/Print Default Reports

This option allows you to customize a monthly reporting package for a company.

Printer Setup

When TaxSlayer Books is installed, your default printer is automatically selected. If you would
like to select a different printer, follow these steps:

1. Click on Maintenance on the main menu and then TaxSlayer Books Configuration

2. Select Print Setup

72
3. The system default printer will be used by TaxSlayer Books to produce Forms and Payroll
Checks unless a specific printer is setup at Configuration Print Setup.

4. Use the Download Computer Fonts option if the forms appear with random characters or
you have errors relating to printing.

5. Turn on the BMP File Format option if lines are not printing on forms.

To review your default printers in Books, go to File and click on Default Printer.

73
E-filing 941s in TaxSlayer Books

To e-file your 941s, click on the Reports icon on the toolbar

Choose Payroll. The following screen will appear.

Select Form 941

Click OK

74
941 E-File Overview

You can E-File your 941 forms using TaxSlayer Books as a reporting agent. A reporting agent is
“Authorized” by the IRS to E-file 941 forms on behalf of the taxpayer. Filing returns as a
reporting agent allows you to file multiple taxpayers 941s using your IRS authorized PIN.

In order to E-File 941 forms, you must first register with the IRS as a reporting agent by filing
Form 8633. You must also file Form 8655 for each individual client for which you will be
acting as reporting agent. Form 8655 documents the taxpayer’s authorization to allow you to
sign electronically on their behalf. Registration to become a reporting agent could take several
months; you must mail in your returns until you are authorized to E-File those forms.

Form 8633: http://www.irs.gov/pub/irs-pdf/f8633.pdf

Form 8655: http://www.irs.gov/pub/irs-pdf/f8655.pdf

When you act as a reporting agent, a representative of your firm receives a PIN that can be used
to file multiple returns. It is important to note that the reporting agent PIN is a signature and
carries the same liability as signing the return on behalf of the client. You may refer to the IRS
guidelines regarding the usage and storage of personal identification numbers at
http://www.irs.gov/pub/irs-pdf/p1345.pdf.

This is your 941 worksheet screen

Enter the tax

deposits for
the quarter

Liability for each month

of the quarter

75
Once you click on print, you will see this message asking if you wish to build the 941 electronic
file. Click Yes.

The next screen will be the Transmitter Information screen.

Enter the PIN assigned to

you by the IRS

Enter the Firm and Preparer Information, and click Continue.

You will then be asked to send the 941 to TaxSlayer.

76
File Transfer Status

To transmit the 941, click on connect

Once the transmission is complete,

the computer will disconnect from
the host

The exit button will be

highlighted. You can exit
at this time. The 941 has
been transmitted.

77
Instructions on Sending W-2/W-3 Electronically

Important Note: Before you will be able to transmit the W-3 and W-2s electronically, you will
need to register for a PIN and Password at the Social Security Administration Online website:
(www.ssa.gov/bso/bsowelcome.htm).

YOU SHOULD RECEIVE YOUR TEMPORARY PASSWORD IN THE MAIL WITHIN

7-10 WORKING DAYS.

1. Before you transmit the W-3 and W-2s electronically, you must first print
and verify that the SSA W-3 and W-2s are correct.
After the verification, select Reports, then Payroll, and then
Form W-2/W-3.

2. Next, select E-file W-2 and W-3 to SSA.

78
3. When the W-2 Submitter Information screen appears, enter and verify appropriate data
in all fields. The submitter PIN will be the PIN that you obtained from the Social
Security Administration website.

4. The preparer code is defaulted to Accounting Firm and the Notification method is
defaulted to E Mail/Internet. Select continue.

79
5. The following message will appear.

6. Next, a message will appear to confirm that the electronic file has been created and
will be transmitted via the Internet. Select OK.

7. Another question will appear Are you ready to run Accuwage to verify the W-2
file? This is free software from the SSA that will check to make sure that the name and social
security number are in the correct format. You may download this software from www.ssa.gov

8. When asked Do you want to go to the website now to send the file?, select Yes.

80
9. This message will appear next:
To connect to the SSA Website, you must have your internet browser up and
running in the background. At this point, you must be connected to the internet. If
you have a dialup connection, you can minimize this window while you connect to the
internet, then click OK. After you select OK, the Social Security Online website will
appear. Select Login and enter your PIN and Password. When the window appears
for the file to be transmitted, it should read W2-xxxx.txt where xxxx is the year. If a
blank box appears, follow the instructions below:
a. Choose Browse
b. Open the Folder Program Files
c. Open the Folder TaxSlayer Books
d. Open the Data Folder
e. Open the Folder for the Company you are working with
f. Choose the File W2-xxxx txt.
Then Submit, and print the confirmation page.

81
 Chapter 6: Other Topics

TaxSlayer Books Network Setup

1. Backup all the Companies that will be used on the Books Network.

2. Map a drive to the Network Share that will be used for the Books Network.

a. If using explorer:
Find the share and Right-Click on it. Select the “Map Network Drive” option.

82
 b. If using the command prompt:
Run the “Net Use” command to connect the mapped drive to the network share.

Note: Be sure that the same Network drive is used for all workstations that will be running Books. In
this example, the U: drive is mapped to the \\tcheek\test share.

3. Install Books to the U:\ path on all workstations that will be running Books.
4. Restore all of the Companies that were backed up.
5. Go to “TaxSlayer Books Configuration” (under Maintenance) and check-mark the “Enable
Networking” option.
6. Verify that all Books users have full access to the Network Share.

83
On-line Help

On-line help is available from the toolbar by clicking on the help icon.

This will take you to the on-line help guide.

The on-line help guide is a quick reference guide for the program. Any time you are on a screen
and need help, simply click on the Help icon or press F1 for guidance related to the applicable
screen.

You can also access the help guide from the menu.

Click on “HELP”

From here you may also

access other tools that are
geared to help you in the
program.

84
Support Web-site

Under the title Help in the menu bar, you can connect to the support website by choosing either
of the two TaxSlayer Web options described below.

Frequently Asked Questions

This option will link you to a listing of common questions so that you access the answer quickly.
Here’s a sample of what you’ll find in the FAQ section:

85
Video Tutorials
This option provides you a selection of short video tutorials that guide you through getting
started in TaxSlayer Books. Launch the tutorial by clicking on the appropriate video player icon
beside the topic.

TaxSlayer Books Help Center

You can also enter a question in the TaxSlayer Books Help Center. Just type in the question or a
phrase, click the “Find Now” button, and you will be linked to the section of the help guide that
addresses the topic.

86
E-mail a TaxSlayer Books Expert
You may e-mail us your question and one of our Books experts will respond in a timely manner.
Just click on the “E-mail a TaxSlayer Books Expert” link on the website, fill in the required
information, and submit your question. Here’s what it looks like:

87
Configuration

To set TaxSlayer Books configuration, click on the “CONFIG” icon , or access the
option from the menu by selecting Maintenance, then “TaxSlayer Books Configuration.”

The Data Transfer Information must

be complete in order to
electronically send a company file
to TaxSlayer Books Support

Print Setup: allows

you to set up a
printer separate Note: The program will use the default printer to print. You will
from your default not have to set up the printer unless you will be using a different
printer printer to print checks or reports.

When Setting Up a Separate Printer: You will need to enter the printer name in the Forms Printer
section that appears when you click on the Print Setup button.

88
 To Turn on the Toolbar: From the configuration screen, press F11. Place a check mark in the
boxes beside “Enable Tool Bar” and “Show Tool Bar Text.”

Make sure there

is a check mark
by the Enable
Tool bar and
Show Tool Bar
Text

Select “Company Config” to update your company information or to set special options such as
hiding the Social Security Number on payroll checks or enabling payroll stubs for direct deposit.

89
90