Ledger IQ imports client trial balances, suggests tax line mappings, posts adjusting journal entries, and exports directly to popular tax software.
What it is
Ledger IQ is a trial balance and tax workpaper application built for accounting firms to prepare business tax returns. It takes QuickBooks exports, parses the accounts, matches them to tax lines, and generates import-ready files for tax packages.
Key features
- Smart trial balance import for messy Excel and CSV files
- Suggested tax line classifications backed by rules and classification history
- Working trial balance view for posting adjusting, reclassifying, and tax journal entries
- Return tie-out checking to spot missing beginning balances before filing
- Year-over-year rollforward carrying prior mappings forward automatically
- Multi-company dashboard for managing multiple client entities in one place
Who it's for
CPA firms and tax professionals preparing business returns who want to eliminate manual data entry and spreadsheet wrangling.
Pricing
Offers a free trial for the first return. Paid plans range from $10 to $25 per return depending on volume, or an unlimited plan priced at $1,200.
Use cases
- Import client trial balances
- Map accounts to tax lines
- Post adjusting journal entries
- Export files to tax software
- Verify return tie-outs
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