Tax account
Statement Purpose
This statement provides an overview of the movement of the tax provision account and determines the final general ledger balance after including any required incremental journals.
Prior periods of current and deferred tax and current tax movement will be shown in this statement.
Data Flow
Users must input prior period current and deferred tax closing balances and any adjustments.
Current period movement amounts in this statement are sourced from
Current tax
, PAYG Instalments
, and Temporary tax movement – net
.Any current period adjustments are manual inputs.
The final current period movement amounts will be linked to
Journals
.Signage
- Opening balances and increases in loss amounts are positive amounts.
- Decreases in loss amounts are negative.