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Data Entry

After Tax Temporary Differences - Tax Basis

In the
DATA ENTRY
 list, you select the
AT Temp Diffs - Tax Basis
 component to enter federal and jurisdiction data.

General Information

Here are some points to consider before selecting data entry fields:
  • The
    Activity
    ,
    Deferred
    , and
    Balance Sheet Only
     column amounts impact the tax provision differently.
  • Enter the after tax temporary difference on a post rate basis. The appropriate federal benefit of state is computed based on these balances.
  • Enter temporary differences that are applicable for the state, but not for federal purposes.
  • Tax Basis Temporary Difference pages allow you to enter amounts as purely tax balances, with or without book or net of book.
  • To use the same
    Code - Description
     for multiple line entries, you must use a different
    Tag
     letter or
    Class/Subclass
     combination for each line.
  • The fields that you can edit are the
    Actions
     (Attachment),
    Amount
    , and
    Note
     fields.
The following information is not applicable for the
Interim Forecast
, and
Estimated Payments
 datasets.
  • Two tabs are available:
    DETAIL
    and
    ROLLFORWARD
    . You can add and edit data in both sections.
  • Administrators use Dataset Parameters Reference to control the information in this page. The DEFAULT_TD_TAB controls which tab(s) you see, and RESTRICT_TD_TABS controls who can enter data within the tab(s).
  • The system computes the Tax-Book Difference using the book and tax amounts in the
    DETAIL
     tab. This information flows to the
    ROLLFORWARD
     tab.

Data Entry Fields

The
AT Temp Diffs - Tax Basis
 component grid includes the following columns.
The following list contains grid options and descriptions for the
AT Temp Diffs - Tax Basis
 page.
Grid Options
Description
Actions
Actions allow you to supplement the adjustment with detail. Select the paper clip icon to add an attachment.
Data Source
Data Source enables you to view the Data Source History.
Dataset
The Dataset selected in the Base Dataset drop-down list.
Unit Code
The Unit Code is established by an Administrator for the After Tax Temporary Differences - Tax Basis.
Unit Name
The Unit Name is established by an Administrator for the After Tax Temporary Differences - Tax Basis.
Currency Symbol
The Currency Symbol is established by an Administrator for the After Tax Temporary Differences - Tax Basis.
Jurisdiction
Jurisdiction lets you select the jurisdiction for the adjustment.
Code - Description
The Codes and description are established by an Administrator for the after tax temporary differences - tax basis.
Type
There are two types of temporary differences 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 Letters 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.
Beginning Balance
The cumulative after tax temporary difference balance rolls forward from the prior Dataset Types. The beginning balance can be overridden manually or with an import.
Activity
  • 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 deferred balances.
  • Typically this entry type is used for the impact of valuation allowances or adjustments to prior year 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.
  • The Balance Sheet Only (BSO) adjustment on the Tax Provisionremoves the BSO Adjustment from the Deferred Provision.
Note
You can type notes to supplement the adjustment. You can access a history of the Notes within "Data Source History."
Ending Balance
  • The component is set up by an administrator as an "Assigned Component Type."
  • To enter the ending balance only, select the tax adjustment assigned with the "End Bal" class.
  • The State Balance Sheet Only (BSO) adjustment on the Tax Provision Report report removes the BSO Adjustment from the State Deferred Provision.
  • Type
     or
    Import
     the balance.

This article applies to:

  • PRODUCT: ONESOURCE Tax Provision