Demo 03
From Trial Balance to Form 1065
Summary
TIERS turns a trial balance into Form 1065 using an automated account classifier with mapping and reconciliation. It carries forward prior-year mappings when available, maps balance sheet accounts to Schedule L, routes income statement accounts to Page 1, Schedule K, M-1, and M-2 through Value Mapping Names, and checks key reconciliation targets. Users can edit the results, review suggested M-1 adjustments, update Schedule B answers, and trace every form line back to the TB accounts and adjustments that created it.
Getting from a trial balance to a completed Form 1065 has always required judgment, manual mapping, and reconciliation work. TIERS has a dedicated automation and mapping workflow that simplifies that process.
Account classification and mapping
TIERS stores the prior-year trial balance and 1065 information. When a current-year trial balance is uploaded, our automated mapper classifies each row as a balance sheet or income statement account. Each balance sheet account is mapped to Schedule L. Each income statement account is mapped to a standardized Value Mapping Name that routes the account's value to the right form lines: Page 1, Schedule K, and Schedules M-1 and M-2, all at once.
A single TB account can contribute to more than one form line, and the system handles that with user-manageable configuration data.
Multi-phase mapping
The mapping automation uses a multi-phase approach. It draws on user-provided mappings, chart of account range detection, fuzzy keyword matching, and iterative target reconciliation for known constraints, such as Page 1 Line 23 must equal Line 8 minus Line 22, the balance sheet must reconcile, and total assets must match Schedule L Line 14.
Prior-year carryforward
If provided, prior-year mappings take priority and are carried forward by account number, so returning engagements start from a known baseline.
M-1 adjustments
The Value Mapping Name configuration specifies when an M-1 adjustment may be needed, and applies an automated fraction to account values that are wholly or partially disallowed. This approach allows TIERS to suggest M-1s, and users can provide the M-1 amount for more nuanced adjustments.
Schedule B
Current-year Schedule B values are initiated from the prior-year values. Users can edit for any changes in the current year, and the UI surfaces when those values differ.
Preparer in the loop
The preparer is in the loop and can easily edit the automated results. Every form line is traceable to the TB accounts, values, and adjustments that drove it.