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This article applies to:

  • Product: ONESOURCE Corporate Tax

Balance sheet

Statement purpose
The balance sheet information set out in this statement provides accrued balances required for tax reconciliation adjustments.

Explanation of fields

The statement lets you divide assets, liabilities, and owners’ equity items into domestic and foreign components. It also displays prior year amounts when the
Display prior period comparison
 option within the
Calculation setup
 statement is set to
Yes
.
Tax values for each item are default to accounting except the following receivables items:
  • Dividends Receivable
  • Dividends tax refund receivable
  • Interest receivable
  • Interest receivable pre TOFA
  • Domestic interest receivable – non-withholding tax
  • Domestic interest receivable – non-withholding tax – pre TOFA
The tax values of these items are linked from
Dividend Reconciliation
,
Interest reconciliation
 and
Statement of unrealised income
.

Data flow

You can link cells in the statement to the trial balance prepared for the trust and adjust them as needed through the
Adjustment
 column. Alternatively, enter all asset and liability information directly through the
Adjustment
 column.

Signage

The signage settings are as follows:
  • Assets are entered as
    positive
     amounts
  • Liabilities are entered as
    negative
     amounts
  • Increases in equity are entered as
    positive
     amounts
  • Decreases in equity are entered as
    negative
     amounts