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In the Temporary Differences (GAAP/STAT) page, users can enter differences between book income computed under US GAAP and statutory law that are temporary in nature. These differences 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.
Enter a separate line item for each temporary difference:
| 1. | Select the Code-Description and then Tag or Class/Sub-Class. |
| 3. | Enter the current activity amount in local currency. |
| 4. | There are also fields for entering deferred adjustments and balance sheet only adjustments. |
| 5. | Click Add New to create the temporary difference. |
After a 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 temporary difference item on this page. If users have supporting documents, click the paper clip or filing cabinet next to the item. |
| • | Users can add and update notes for a line item. |
| • | To view separate pages for GAAP to STAT and STAT to TAX, datasets must be assigned as yeprovgs. For more information, refer to the Administration section. |
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. |
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