Tax account
Statement Purpose
This statement provides an overview of movements in the tax provision account. It displays prior periods of current and deferred tax, as well as current period movements.
Data Flow
Users must input prior period closing balances for current and deferred tax, and any adjustments.
Current period movement amounts are sourced from:
- Current tax
- PAYG Instalments
- Temporary tax movement – net
Any current period adjustments are manually input.
The final current period movement amounts will link to
Journals
.Signage
- Opening balances and increases in loss amounts are entered as positive amounts.
- Decreases in loss amounts are entered as negative amounts.