Cumulative Temporary Differences

You can layer Cumulative Temporary Difference data using the book balance sheet to build a Tax Basis Balance Sheet and Income Statement.
  • In Tax Return Mappings, map the cumulative temporary differences to the trial balance accounts.
  • The upper section of the Tax Basis / Return Mappings page and the input for Sch L are used for Export to Returns Reporting Parameters functionality and the Tax Basis Income Statement.
  • Each cumulative temporary difference can only be mapped to one Trial Balance Sublines. Therefore, it may be necessary to create additional sublines to map cumulative temporary differences properly.
  • The system shows the cumulative temporary beginning balance, as well as activity that occurred during the period.