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Data Entry

Trial Balance / Tax Basis

In the
DATA ENTRY
 list, you select the
Trial Balance/Tax Basis
 component to enter federal and jurisdiction data.

General Information

Here are some points to consider before selecting data entry fields:
  • This area populates the ending trial balance amounts and allows you to make book adjustments, tax reclasses, and other adjustments. This can ultimately be used as the starting point for the tax basis balance sheet. Typically, the trial balance data is bridged into the system from an extract of the general ledger.

Data Entry Fields

The
Trial Balance/Tax Basis
 component grid includes the following columns.
The following list contains grid options and descriptions for the
Trial Balance/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 Trial Balance/Tax Basis.
Unit Name
The Unit Name is established by an Administrator for the Trial Balance/Tax Basis.
Currency Symbol
The Currency Symbol is established by an Administrator for the Trial Balance/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 Trial Balance Sublines.
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.
Ending Book Balance
  • Populates the trial balance ending balance data for the period.
  • Book Adjustments: Book adjustments to the ending balances can be made to generate the adjusted ending balances.
Tax Reclass
Tax reclasses can be made to the adjusted ending balances.
Other Adjustments
Other adjustments can be made to the adjusted ending balances.
Note
You can type notes to supplement the adjustment. You can access a history of the Notes within "Data Source History."

This article applies to:

  • PRODUCT: ONESOURCE Tax Provision