Outline of the Deferred Tax Accounting Module

Outline of the Deferred tax accounting module

In [Deferred tax accounting module], you can register temporary discrepancy items as templates and enter closing balance in a worksheet, making it possible to automatically create journal to apply the deferred tax accounting.  Since the template registration and worksheet entry can be done by data level, the data can also be auto-journalized by data level.  In addition, it features journal adjustment for the deferred tax accounting-first year of application.

Menu structure

• Register
  Register temporary discrepancy items and the legal effective tax rate.
• Entry
  Enter "closing balance," the source to execute the deferred tax accounting, for each temporary discrepancy item and automatically create journal to apply the deferred tax accounting.
• Forms
  It can output the following forms.

Forms that can be output

In [Deferred tax accounting module], the following forms can be output:

Form Name	Description
Temporary discrepancy balance transition sheet	The sheet is output for temporary discrepancy balance transition.
Deferred tax balance list	The list is output for deferred tax assets/liability balance.

Click here, for more information on output forms.

Notes

• Pre-register
  Prior to using the deferred tax accounting module, you need to set up "Deferred tax accounting A/C" and "Tax rate formula" in [Parameter setup] of [System custodian module].
• Restriction of data entry, modification and deletion
  Because the data entry in the deferred tax worksheet should be made in an order of accounting year and period, the system controls not to allow you to skip a subsequent period.  You cannot also enter, modify or delete the deferred tax worksheet data that had been created before the accounting year and period when the deferred tax accounting was executed, as well as the deferred tax accounting data for the year when annual update was executed.
• Exclusive control
  The system controls simultaneous access by multiple operators.  The restriction applies to [Register tax consequences worksheet template], [Register legal effective tax rate], [Tax consequences worksheet entry] and [Execute deferred tax accounting], not allowing several operators to access to work on at the same time.  When one operator is in access to one of the four menus, other operators cannot access any menu.  When a menu is selected, the error message "Cannot be started because it is being executed by other operator" will appear.
• Warning on annual update and monthly update
  The data entry should be done in [Tax consequences worksheet entry] and [Execute deferred tax accounting] in an order of accounting year and period, but if monthly update is executed, skipping [Execute deferred tax accounting], you won't be able to execute the deferred tax accounting for the month or later.  Similarly, if annual update is executed, skipping [Tax consequences worksheet entry] and [Execute deferred tax accounting], you won't be able to make the tax consequences worksheet entry and deferred tax accounting execution for the next accounting year or later.
• Row deletion in [Register tax consequences worksheet template]
  When you delete rows of temporary discrepancy items in [Register tax consequences worksheet template], the data that was saved on the temporary discrepancy items will also be deleted together.  As a result, the temporary discrepancy items won't be displayed in [Tax consequences worksheet entry] and [Execute deferred tax accounting].
• Balance entry in [Tax consequences worksheet entry]
  "Deferred tax accounting-first year of application" is selected in the first entry of [Tax consequences worksheet entry], the data will be auto-journalized for the applicable first year in [Execute deferred tax accounting].  Meanwhile, when "Deferred tax accounting-not first year of application" is selected, auto-journal won't be performed in [Execute deferred tax accounting].