ACTUAL AFTER TAX TEMPORARY DIFFERENCES

In the Actual After Tax Temp Diffs page, users can enter after tax adjustments that are temporary in nature. An example of an after tax temporary difference is a tax credit with a carry-forward amount.

Enter a separate line item for each after tax temporary difference:

1.Select the Code-Description and then Tag or Class/Sub-Class.
2.Indicate whether the item is classified as current or non-current.
3.Enter the current activity amount in local currency.
4.There are also fields for entering deferred only adjustments and balance sheet only adjustments.
5.The ending balance, if any, is automatically calculated.
6.Click Add New to create the after tax temporary difference.

 

After an after tax temporary difference item is created, users can edit or delete it by clicking the appropriate icon.

1.Click the pencil icon to edit the entry.
2.Select Save Changes after making any changes.

 

•Users can attach files to an individual after tax temporary difference item on this page. If users have supporting documents, click the paper clip or filing cabinet next to the item.
•Users have the ability to add and update notes to a line item. Users may click on the notes icon then add notes.
•The impact of individual after tax temporary difference on the tax provision can be viewed on the Interim Provision report.
•Deferred Only after tax temporary differences will appear on the Effective Rate report.

 

Notes:

•Refer to the Where to Enter Items in ONESOURCE Tax Provision section for more information on the different types of adjustments; for example, current activity, deferred only, and balance sheet only.
•If a new after tax temporary difference item is required, contact the Corporate Tax Department.