Tax consequences worksheet entry

[Tax consequences worksheet entry] enables you to enter tax consequences worksheets, the basis to execute deferred tax accounting.  Setting up the data level for tax consequences worksheets, it offers deferred tax accounting auto-journal per data level.  You are also allowed to enter temporary discrepancy balance for deferred tax accounting-first year of application.
 → To Operation Procedure

Screen Transition

[Deferred tax accounting module]
  ↓
[Entry]
  ↓
[Tax consequences worksheet entry]
  ↓
[Tax consequences worksheet entry] screen

Item Setup

[Header]

• Data level
  Specify the data level for entry object.
• Accounting year
  Enter the accounting year and the period.  The default displays the subsequent period of the current period that has been entered.  On the accounting period, the entry-enabled number is 1-12 when "Term" is selected as the entry period of the entered accounting year and each number corresponds to the term.  When "Quarter" is selected, the entry-enabled number is 1-4 and each number corresponds to the quarter.  When "Half yearly" is selected, 1 or 2 can be entered, which represents the first half or second half, respectively.
• Entry period
  The entry period is displayed per the accounting year. In the case of the accounting year which has not been registered by [Register legal effective tax  rate], an error message is displayed.

[Spread]

• No., Temporary discrepancy item name, Name 2, Name 3, Add/Subtract, Short/Long term type
  Information registered in [Register tax consequences worksheet template] are displayed in each item.
• Balance
  The closing balance for the previous period of the specified accounting year/period is displayed.
• Increase/Decrease Amt
  Enter the increase/decrease amt.  When the closing balance is entered, the value of "Closing balance - Balance" will be displayed.
• Closing balance
  Enter the closing balance.  When the increase/decrease amt is entered, the value of "Balance + Increase/Decrease Amt" will be displayed.

[Buttons]

• Clear
• Refer
  Clicking this button proceeds in reconciliation for temporary discrepancy items, based on the entered "Data level" and "Accounting year."
• Save
• Delete
• Exit

Notes:

When a tax consequences worksheet is not present (in case of the initial entry of tax consequences worksheet), activate [Tax Consequences Worksheet Entry] Menu, and the [Tax consequences worksheet entry-select condition] screen will be displayed.  You can select the condition for the accounting year from either "Deferred tax accounting-first year of application" or "Deferred tax accounting-not first year of application" and then enter the selected sheet.  (The [Tax consequences worksheet entry-select condition] screen is not displayed after the second entry.)&

• When "Deferred tax accounting-first year of application" is selected.

• The system will check if the legal effective tax rate of the previous accounting year is registered.  When it is not registered, an error message "Cannot be entered because the legal effective tax rate of the previous accounting year has not been registered" pops up.  Then go to [Register Legal Effective Tax Rate] Menu to register the legal effective tax rate of the previous accounting year.
• Since the accounitng year is the final period of the previous accounting year, this field will be grayed out and no modification can be made.
• In the spread, only the "Closing balance" row is displayed, while "Balance" and "Increase/Decrease Amt" are not displayed.
• In [Execute deferred tax accounting], specific journalizing is executed.

• When "Deferred tax accounting-not first year of application" is selected.

• Follow the standard entry method (the accounting year can be entered).
• In the spread, only the "Closing balance" row is displayed, while "Balance" and "Increase/Decrease Amt" are not displayed.
• When the accounting year and term are the oldest data in transactions (in case of deferred tax accounting-not first year of application), the system controls not to execute auto-journal, showing the message "Auto-journal is not performed because it is a balance data.  OK?"