Working with loss, tax credit, and other accounts

You can use the Loss, Tax Credit, and Other Accounts editor to manage additional account structures in reports. For information on configuring the system settings for loss, tax credit, and other accounts, see “Configuring Current Tax automation settings”.

Loss, tax credit and other accounts report settings

Adding loss, tax credit and other accounts

You can add and configure loss, tax credit and other accounts that are specific to your company using the Loss, Tax Credit, and Other Accounts editor.

When you add a loss, tax credit or other account, you are affecting a series of structures depending on the category and settings.

To add a loss, tax credit or other account:

1. In the Tax Provision navigation pane, click Administration.
2. Expand Accounts.
3. Click Loss, Tax Credit, and Other Accounts. The Loss, Tax Credit, and Other Accounts editor opens with the default page in view, displaying the accounts and their default settings. This will be CharT – Total Charitable Contributions Carry forward for ASC systems and LTCapLossT – Total Long-Term Capital Loss Carryforward for IAS system.
4. Depending on the type of account you want to add, remain on the page, and continue to the next step, or select one of the following categories from the Category list on the page toolbar:
   • ASC System
     • CharT – Total Charitable Contributions Carryforward
     • LTCapLossT – Total Long-Term Capital Loss Carryforward
     • NLossT – Total Net Operating Loss
     • TaxCrPrmT – Total Tax Credits – Permanent
   • IAS System
     • LTCapLossT – Total Long-Term Capital Loss Carryforward
     • NLossT_IAS – Total Tax Loss
     • TaxCrPrmT – Total Tax Credits – Permanent
     • TaxCrT – Total Tax Credits – Temporary
     • NatAddPrv – National Additional Charges
     • RegNLossT_IAS – Total Regional Tax Loss
     • RegTaxCrT – Total Regional Tax Credits – Temporary
     • RegAddPrv – Regional Additional Charges
5. Select the row under the appropriate parent for the account and Click Account. A new row appears.
6. Complete the following fields:

   Field	Notes
   Account	Type a name for the difference account. The account name can have a maximum of 31 characters.
   Description	Type a description for the difference account. The description can have a maximum of 100 characters.
   Parent	Select a parent symbol for the account. Type the name of an account, use the drop-down list, or use the symbol selector to select the parent symbol.
   Sort order	Specify a numeric value from 1 and up representing the order of the symbol with respect to its parent. By default, the sort order for added symbols is 10 higher than the last child of the same parent symbol. If you specify a value of 0, the symbol appears at the bottom of the list.

7. Complete the report settings. See Loss, tax credit and other accounts report settings.
8. Click OK. The account appears in the hierarchy.
9. When you are finished, click Save.

Modifying loss, tax credit and other accounts

You can modify the configure loss, tax credit and other accounts using the Loss, Tax Credit, and Other Accounts editor.

To modify a loss, tax credit or other account:

1. In the Tax Provision navigation pane, click Administration.
2. Expand Accounts.
3. Click Loss, Tax Credit, and Other Accounts. The Loss, Tax Credit, and Other Accounts editor opens with the default page in view, displaying the accounts and their default settings. This will be CharT – Total Charitable Contributions Carryforward for ASC systems and LTCapLossT – Total Long-Term Capital Loss Carryforward for IAS system.
4. Depending on the type of account you want to modify, remain on the page, and continue to the next step, or select one of the following categories from the Category list on the page toolbar:
   • ASC System
     • CharT – Total Charitable Contributions Carryforward
     • LTCapLossT – Total Long-Term Capital Loss Carryforward
     • NLossT – Total Net Operating Loss
     • TaxCrPrmT – Total Tax Credits – Permanent
   • IAS System
     • LTCapLossT – Total Long-Term Capital Loss Carryforward
     • NLossT_IAS – Total Tax Loss
     • TaxCrPrmT – Total Tax Credits – Permanent
     • TaxCrT – Total Tax Credits – Temporary
     • NatAddPrv – National Additional Charges
     • RegNLossT_IAS – Total Regional Tax Loss
     • RegTaxCrT – Total Regional Tax Credits – Temporary
     • RegAddPrv – Regional Additional Charges
5. To edit the account name, description, sort order, or parent select the account, and click Properties. The fields become available.

   Field	Notes
   Account	Type a name for the difference account. The account name can have a maximum of 31 characters.
   Description	Type a description for the difference account. The description can have a maximum of 100 characters.
   Parent	Select a parent symbol for the account. Type the name of an account, use the drop-down list, or use the symbol selector to select the parent symbol.
   Sort order	Specify a numeric value from 1 and up representing the order of the symbol with respect to its parent. By default, the sort order for added symbols is 10 higher than the last child of the same parent symbol. If you specify a value of 0, the symbol appears at the bottom of the list.

6. Modify the other fields as required. See Loss, tax credit and other accounts report settings.
7. Click OK.
8. When you are finished, click Save.

Exporting loss, tax credit or other accounts to Microsoft Excel

You can use the Loss, Tax Credit, and Other Accounts editor to export account information from all tabs in the editor to Microsoft Excel.

To export loss, tax credit and other accounts to Microsoft Excel:

1. In the Tax Provision navigation pane, click Administration.
2. Expand Accounts.
3. Click Loss, Tax Credit, and Other Accounts. The Loss, Tax Credit, and Other Accounts editor opens with the default page in view, displaying the accounts and their default settings. This will be CharT – Total Charitable Contributions Carryforward for ASC systems and LTCapLossT – Total Long-Term Capital Loss Carryforward for IAS system.
4. Click Export to Excel. The Export to Excel dialog opens.
5. Select one of the following:
   • Expanded view—To export all account symbols fully expanded.
   • Current view—To export only the account symbols visible in the current hierarchy expansion state for each tab.
6. Click Export. The Save As dialog opens.
7. Navigate to the location where you want the file to be saved.
8. Type the name of the file you want the account information to be exported to.
9. Click Save. The file opens in Microsoft Excel.