After Tax Temporary Differences - Book/Tax Basis

The After Tax Temporary Differences - Book/Tax Basis screen is accessed under Data Input > Federal in the Provision and Estimated Payments datasets and under Data Input > Forecast/Actual > Federal in an Interim dataset.

 

Provision dataset only

•There are two sections: Detail and Analysis. By default, the Detail section displays first. All users can enter and modify data in both sections, also by default. Administrators can use the DEFAULT_TD_TAB and RESTRICT_TD_TABS dataset parameters to change the section that displays by default and determine whether or not Read/Write users can enter data in the Details section.
•The system computes the Tax-Book Difference using the book and tax amounts entered in the Detail section.  This information also displays in the Analysis section.
•For information on the Analysis section, go to the Analysis page.

 

Provision and Estimated Payments datasets

•The Activity and Deferred column amounts impact the tax provision differently.
•To import information to the After Tax Temporary Differences - Book/Tax Basis screen, complete the appropriate fields on the #UATTDAM# U AfterTxTD-Bk Tx Bas sheet in the Import Numbers template. For more information on importing, refer to the Importing Templates documentation.
•If you wish to adjust the same after tax temporary difference more than once, you must make additional entries using different tag letters.

 

Screen Entry Fields

Code - Name

The code and description are established by an Administrator for the after tax temporary difference.

 

Adj Type

There are two types of temporary difference balances - Current and Non-Current. Select the type that best relates to the balance sheet account where the deferred tax asset or liability should be represented.

 

Tag

The tag letter identifies each line entered in the originating source.

 

Class

The class identifies each line entered in the originating source.

 

Subclass

The subclass identifies each line description entered in the originating source. You can select Next Value as the subclass and the application generates the next "Code" number for the selected Code, Type and Class.

 

Months

The months entered for both book and tax are used to compute the ratable amount applicable to the period.

 

Beginning Balance

The beginning balance rolls over from the prior period and should represent the remaining temporary differences for book and tax that should be allocated. The beginning balance can be overridden manually or with an import.

Note: The administrator has the ability to lock beginning balances and the Beginning Bal column does not allow data entry for Read/Write Users.

 

Enter Activity/Enter Ending

Select Enter Activity or Enter Ending balance to apply to both book and tax calculations:

•Enter Activity - You can enter data in Activity, Deferred, and Balance Sheet fields. The system automatically calculates the Ending balance, which is Read-Only.
•Enter Ending - You can enter data in Ending Balance, Deferred and Balance Sheet fields. The system automatically calculates the Activity, which is Read-Only.

 

Activity

•The activity is the appropriate amount of the beginning balance based on the months entered. In a dataset that was not rolled over, you must populate this field.
•Activity impacts the current and deferred provision, as well as deferred balances.
•Positive amounts increase and negative amounts reduce the taxable income. Amounts should be entered in local currency. They are translated using the unit's weighted average FX rate to the reporting currency.

 

Deferred

Deferred impacts the deferred provision, as well as the deferred balances.

 

Balance Sheet Only

•Balance only impacts deferred balances.
•Typically this entry type is used for the impact of equity or other comprehensive income items.

Note:  You will need to activate the parameter to view the Audit Trail created when working with the Enhanced Integration transfer.  For more information on Enhanced Integration, see the Enhanced Integration User Manual.: The Balance Sheet Only (BSO) adjustment on the Tax Provision report removes the BSO Adjustment from the Deferred Provision.

 

Ending Balance

The ending balance based on the months entered. In a dataset that was not rolled over, you must populate this field.