How to Determine Schedule F Income in FINPACK

Today’s post focuses on Schedule F income utilized in the Schedule F Cash to Accrual tool. This FINPACK tool takes cash income from Schedule F, along with beginning and ending balance sheets, to arrive at accrual adjusted income for the year.

How To Enter Finance Leases in FINPACK

“When should a lease be recorded on the balance sheet?”   “If a lease is included on the balance sheet,  how do you determine the asset value and loan balance?” These are frequent questions as the use of leases for machinery,...

Challenges with CCC loans reported as income

Tax preparers are not consistent in reporting repayment of CCC loans that have previously been reported as income for tax purposes. FINPACK tries to adjust for these inconsistencies but adjustments are not always possible. While these problems cause cash...

Determining Schedule F Income in FINPACK

FINPACK uses IRS Schedule F data in two analysis tools – the Schedule F type Tax Form and the Schedule F Cash to Accrual tool. Several items on the Schedule F tax form have both total and taxable entries. Because of this, questions arise about which Schedule F...