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Data Entry

Forecast PTBI

In the
DATA ENTRY
 list, you select the
Forecast PTBI
 component to enter federal and jurisdiction data.
note
For the
BASE DATASET
, you must select a dataset with the
Forecast
 dataset type. If you select a Provision, Estimated Payments or Interim Actual dataset type in the
BASE DATASET
 list,
Forecast PTBI
 will not appear in the Data Entry list.
You can enter the
Estimated Pre-Tax Book Income
 as an annualized amount and have the system divide the income into quarterly amounts.
  1. Select a unit in the
    UNIT SELECTED
     drop-down list.
  2. Type the annual income in the
    Estimated Pre-Tax Book Income
     field. Enter the Pre-Tax Book Income in local currency.
  3. Select
    Enable Quarterly PTBI
     and the system divides the annual income into four quarters.
    note
    When you select
    Enable Quarterly PTBI
    , instead of adding rounding excess to the fourth quarter, each quarter shows its own rounding. Check the rounding when the annual income amount is not evenly divisible by four.

General Information

Here are some points to consider for data entry fields:
oPTIONS
enter data in the following fields
Estimated Pre-Tax Book Income or Q1 - Q4
Enter the
Estimated Pre-Tax Book Income
 as an annualized amount or in quarterly amounts.
Enter quarterly amounts by selecting
Enable Quarterly PTBI
.
note
You must enter the Pre-Tax Book Income in local currency.
Estimated Annual Weighted Average FX Rate
Enter the
Estimated Annual Weighted Average FX Rate
 for a unit for the period covered by the dataset. The rate you use is the ratio of what 1 unit of the reporting currency would equal in the local currency. The system uses the Weighted Average Foreign Exchange rate to convert entries for the unit that have an Income Statement provision impact.
note
Enter 1 if the local and reporting currency are the same.
Exclude Foreign Losses
Select
Exclude Foreign Losses
 and the system excludes the unit from the interim provision calculations if the Forecast Federal Taxable Income is a negative amount. If the amount is positive, the unit is included in the calculation.
note
Use the dataset parameter
USE_WWPTBI_INTPROVETR
 to determine how
Exclude Foreign Losses
 affects the interim provision calculations.
The interim reports are indicated with an asterisk and footnote in a report, if the unit is an Excluded Foreign Losses or Excluded Unit (for example, *Exclude Unit or **Exclude Foreign Loss).
Exclude Unit
Select
Exclude Unit
 and the system excludes the unit from the interim provision calculations.
note
Use the dataset parameter
USE_WWPTBI_INTPROVETR
 to determine how
Exclude Unit
 affects the interim provision calculations.
The interim reports are indicated with an asterisk and footnote in a report, if the unit is an Excluded Foreign Losses or Excluded Unit (for example, *Exclude Unit or **Exclude Foreign Loss).
Statutory Tax Rates
The
Current Tax Rate
 and
Ending Deferred Tax Rate
 for the specified unit are used for all unit specific reports. These rates are also taken into account for Federal Benefit of State (FBOS) calculations when working with state data.
If the
Current Tax Rate
 and the
Ending Deferred Rate
 differ for the unit, the system automatically calculates the necessary impact of the rate difference for Activity entered for temporary differences. The impact of the rate difference can be viewed in the Effective Tax Rate report.
If the
Beginning Deferred Rate
 and
Ending Deferred Rate
 differ for a unit, the system automatically calculates any necessary change in rate adjustment on beginning temporary difference balances. Support for the calculated adjustment appears in a separate column within the Deferred Balances report.
FX Rates (1 RPT equals ?)
Enter the specific Beginning and Ending Spot rates for a unit for the period covered by the dataset in the
Beginning Spot
 and
Ending Spot
 fields. Enter the rate using the ratio of what 1 unit of the reporting currency would equal in the local currency. The Beginning and Ending Spot rate is used to convert entries for the unit that have a Balance Sheet provision impact.
note
Enter 1 if the local and reporting currency are the same.
Deferred Provision Only Adjustment
The adjustment to the deferred tax provision expense is a separate line item on the tax provision report. It impacts the Effective Tax rate. The deferred expense amount does not have a related deferred tax asset or liability associated with it.
Be sure to use this field appropriately, because additional support may be required to justify the expense on the provision.
note
FX rates fields are Read only. To edit these values go to the Interim Unit Details page by selecting
My Datasets > Units > More > Interim Unit Details
.

This article applies to:

  • Product: ONESOURCE Tax Provision