Amortized Temp Diff Rollforward

In the Amortized Temp Diff Rollforward page, users can enter differences that will reverse in the future. Examples include temporary disallowed expenses, accruals, and reserves which will be deducted in later years, as well as book income not subject to current taxation under the statutory laws of the country. In order to view this page, the page must be selected in Manage User Permissions.

•Depending on the nature of the temporary difference, the impact of individual temporary differences on the tax provision can be viewed on the Tax Provision report and the Effective Rate report.

2014.1 amortized temp diff rollforward

 

Enter a separate line item for each temporary difference:

1.Click Add to create a temporary difference.
2.Select the Code-Description and then Tag or Class/Sub-Class.
3.Select the Temp Diff Type as current or non-current.
4.Type the Book amount for the current activity in local currency.
5.Type the Tax amount for the current activity in local currency.
6.To edit the Ending Balance, click the Ending Balance Override Unit Rate.

 

After a temporary difference item is created, users can edit or delete the item by clicking the appropriate icon.

 

To edit temporary difference:

1. Click Edit.

2. Select Save after making any changes.

 

To delete the temporary difference:

1. Click Delete.

2. Select Save after making any changes.

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 temporary difference item is required, contact the Corporate Tax Department.