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Working With Regional Modifications

In Multi-Regional Provision systems, you can automate regional modifications using the Regional Modifications editor. You can automate the following accounts:

  • Regional Permanent Differences. You can source these modifications from either the general ledger value or a national-level provision account (for example, a permanent or temporary difference account).
  • Regional Temporary Differences. You can source these modifications from either the general ledger value or a national-level provision account (for example, a permanent or temporary difference account).
  • Other Regional Permanent Modifications. You can source these modifications from either the general ledger value or a national-level provision account (for example, a permanent or temporary difference account).
  • Other Regional Temporary Modifications. You can source these modifications from either the general ledger value or a national-level provision account (for example, a permanent or temporary difference account).

The Regional Automation Rule Type determines the calculation method for multi-regional provision accounts and can be one of the following:

  • Year-to-Date Balance — Multiplies the source by the specified percentage to calculate the values for the current year column of the multi-regional current provision (current tax charge). For example, you can set up regional permanent different accounts to be equal to the general ledger or national-level provision accounts multiplied by the specified percentage.

  • Change In Balance — Uses the difference between the current year-to-date amount and the prior year ending balance of a single or multiple accounts multiplied by the specified percentage to calculate the current year column of the multi-regional current provision (current tax charge).

  • Multi-Regional — Same Region — Adds back only the regional tax for the home region. This modification represents an adjustment to the standard Longview Tax add-back so that the net add-back represents only the regional taxes for the home region. This type is commonly used for the regional income tax reversal.

  • Multi-Regional — Other Regions — Adds back all regions except for the home region. This modification represents an adjustment to the standard Longview Tax add-back so that the net add-back represents all regional taxes excluding the home region. This type is commonly used for the regional income tax reversal.

Use the Regional Modifications editor to define the following:

  • account/reporting method (elements)/details/segments intersection that contains the source value for automation

  • the percentage to apply to the source value to calculate the regional modification (the percentage can range from 100% to -100%)

Regional Modifications calculation settings

Use this automation to calculate values in the provision for permanent and temporary difference accounts and in the gross temporary difference rollforward for temporary difference accounts. The amounts may be calculated to the current year, equity, and OCI columns, depending on whether Use Income/Equity/OCI Setting is selected or cleared in the System Settings editor and the Target Elements setting for the difference account.

Field Notes
Regional Automation Rule Type Specify the calculation method to use for actuals, using one of the following values:
  • Year-to-Date Balance — Multiplies the source by the specified percentage to calculate the values for the current year column of the multi-regional current provision (current tax charge). For example, you can set up regional permanent different accounts to be equal to the general ledger or national-level provision accounts multiplied by the specified percentage.
  • Change in Balance — Uses the difference between the current year-to-date amount and the prior year ending balance of a single or multiple accounts multiplied by the specified percentage to calculate the current year column of the multi-regional current provision (current tax charge).
  • Multi-Regional Provision — Same Region — Adds back only the regional tax for the home region. This modification represents an adjustment to the standard Longview Tax add-back so that the net add-back represents only the regional taxes for the home region. This type is commonly used for the regional income tax reversal.
  • Multi-Regional Provision — Other Regions — Adds back all regions except for the home region. This modification represents an adjustment to the standard Longview Tax add-back so that the net add-back represents all regional taxes excluding the home region. This type is commonly used for the regional income tax reversal.
% Specify the percentage of the amount to transfer. The amount transferred is the percentage specified multiplied by the source amount.

The percentage must be a number from -100 through 100 and can have a maximum of two decimal places.
Source Accounts Specify the source account for the difference account. You can select one or more parent or leaf symbols from the chart of accounts.

Valid source accounts are those set for Current Tax Automation — Valid Source Accounts in the System Settings editor.
Source Reporting Methods Specify the source reporting method for the difference account. You can select one or more parent or leaf symbols.

Valid source reporting methods are those set for Current Tax Automation — Valid Source Reporting Methods in the System Settings editor.
Source Details This field displays only if a value is set for Current Tax Automation — Target Detail Symbol in the System Settings editor. If Current Tax Automation — Target Detail Symbol is cleared, all details are transferred from and to the same symbols.

Specify the source details for the difference account. You can select one or more parent or leaf symbols.

Valid source details are those set for Current Tax Automation — Valid Source Details Symbols in the System Settings editor.
Source Segments This field displays only if a value is set for Current Tax Automation — Target Segment Symbol in the System Settings editor. If Current Tax Automation — Target Segment Symbol is cleared, all segments are transferred from and to the same symbols.

Specify the source segments for the difference account. You can select one or more parent or leaf symbols.

Valid source segments are those set for Current Tax Automation — Valid Source Segments Symbols in the System Settings editor.
Target Elements This field displays if Use Income/Equity/OCI Setting is selected in the System Settings editor. If Use Income/ Equity/OCI Setting is cleared, all added accounts are classified as Income accounts.

Specify the target elements for the difference account. The valid target elements values are dependent on the setting for Income/Equity/OCI.

  • If Income/Equity/OCI is set to Income, the valid value is Income.
  • If Income/Equity/OCI is set to Equity, the valid values are Equity or Equity and Income.

    Note: Equity and Income is not a valid value for temporary difference accounts.

  • If Income/Equity/OCI is set to OCI, the valid values are OCI or OCI and Income.

    Note: OCI and Income is not a valid value for temporary difference accounts.
Interim Calculation Method

Specify the calculation method for interim using one of the following values:

  • Annualize — Calculates the forecast current year column value by annualizing the current year-to-date balance. The interim current year column is equal to the current year-to-date amount divided by the current period multiplied by the number of remaining periods in the year. The forecast current year column is the sum of the current year to date column and the interim current year column. For example, assuming the value of an account at the end of the first quarter is 3000, the interim current year column is calculated as (3000/3) * (12-3). The annualized value in the forecast current year column is 3000 + 9000.
  • Prior Year — Calculates the forecast current year column value by using the year-to-date balance of the prior year-end current provision. The value in the interim current year column equals the prior year ending balance less the current year-to-date amount. For example, assuming the value of an account at the end of the first quarter is 3000, and the prior year ending balance was 24000, the interim current year column is calculated as 24000 — 3000. The prior year value in the forecast current year column is 3000 + 21000.
  • Forecast — Calculates the forecast current year column value by using the balance of the forecast current year input. The value in the interim current year column equals the forecast current year input balance less the current year-to-date amount. For example, assuming the value of an account at the end of the first quarter is 5000, and the forecast current year input balance is 20000, the interim current year column is calculated as 20000 — 5000. The forecast value in the forecast current year column is 5000 + 15000.

Adding regional permanent and temporary difference accounts

You can add regional permanent and temporary difference accounts using the Regional Modifications editor.

Note: You cannot add other regional modifications using this editor. For information on adding other regional modifications, contact your Professional Services representative.

To add a regional modification:

  1. In the Tax Provision navigation pane, click Administration.
  2. Expand Accounts, and then expand Regional Modifications.
  3. Click Regional Modifications. The Regional Modifications editor opens with the RegTemp — Regional Temporary Differences page in view, displaying the accounts and their default settings.
  4. Depending on the type of difference account you want to add, remain on the RegTemp — Regional Temporary Differences page and continue to the next step, or select one of the following categories from the Category list on the page toolbar:
    • RegPerm — Regional Permanent Differences
    • RegEQPerm — Regional Equity Permanent Differences
    • RegOCIPerm — Regional OCI Permanent Differences

    Note: You cannot add other regional modifications to the MSP_RegionModificationOtherPrm and MSP_RegionModificationOtherTmp categories using this editor. You can, however, modify the names and some symbol properties. For more information, see Modifying default settings for regional modifications.

  1. Select the row under the appropriate parent for the difference account, and do one of the following:
    • To add a difference account, click Difference.
    • To add a subtotal account, click Subtotal.

    Note: If you want to select a leaf symbol as the parent for the regional difference account, you must select the parent symbol manually in step 7. Otherwise, the parent of your selected leaf symbol is automatically set as the parent for the difference account. For more information, see “Modifying default settings for regional modifications”.

  2. A new row appears.
  3. Complete the following fields:

    1. Account: Type a name for the difference account. The account name can have a maximum of 30 characters. The maximum length for Longview symbol names is 31, but for difference symbols, one character is reserved for the names of the Calculated and Adjustment system symbols, which are automatically created.

    2. Description: Type a description for the difference account. The description can have a maximum of 87 characters. The maximum length for Longview symbol descriptions is 100; however, for difference symbols, 13 characters are reserved for the descriptions of the Calculated and Adjustment system symbols, which are automatically created.

    3. 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.

    4. Income/Equity/OCI: This field only displays when Use Income/Equity/OCI Setting is selected in the System Settings editor. The Longview default for this setting is based on the value set for Account Default Setting for Deferred Tax Income/Equity/OCI in the System Settings editor. If you modify Income/Equity/OCI for a difference account that has a calculation method set for Actuals Calculation Method, you must also update the Target Elements setting (for both default settings and any entity override settings) to a valid value for the new Income/Equity/OCI classification. Specify the Income/Equity/OCI classification for the account using one of the following values:

      • Income — Classifies the account as an Income account.
      • Equity — Classifies the account as an Equity account.
      • OCI — Classifies the account as an Other Comprehensive Income account.
  4. For Parent, type the name of the parent symbol for the difference account, or select a parent in the drop-down list. Alternatively, you can use the symbol selector.
  5. Do one of the following:
    • If you are adding a difference account, continue to the next step.
    • If you are adding a subtotal account, continue to step 11.
  6. Set the calculation options. See Regional Modifications calculation settings.
  7. Click OK. The account appears in the hierarchy.

    Note: If you add difference symbols that impact TARF, you must also open the Tax Account Rollfoward Data Transfer editor and click Save to include the new symbols in the list used to trigger the calculation.

  8. When you are finished, click Save.
  9. If you want to run calculations based on the changes you have made, click Run Calculations.

Modifying default settings for regional modifications

You can modify the default settings for existing regional book-tax differences and modification accounts using the Regional Modifications editor. These default settings are applied to all regions unless the region uses an override for that account.

To modify regional permanent and temporary differences and regional modification accounts:

  1. In the Tax Provision navigation pane, click Administration.
  2. Expand Accounts, and then expand Regional Modifications.
  3. Click Regional Modifications. The Regional Modifications editor opens with the RegTemp — Regional Temporary Differences page in view, displaying the accounts and their default settings.
  4. Depending on the type of regional modification account you want to modify, remain on the RegTemp — Regional Temporary Differences page and continue to the next step, or select one of the following categories from the Category list on the page toolbar:
    • RegPerm — Regional Permanent Differences
    • RegEQPerm — Regional Equity Permanent Differences
    • RegOCIPerm — Regional OCI Permanent Differences
    • MSP_RegionModificationOtherPrm — Other Regional Permanent Modifications for other taxes, special deductions, and pre- and post-apportionment adjustments.
    • MSP_RegionModificationOtherTmp — Other Regional Temporary Modifications for regional modifications related to loss carry forwards and net operating losses.
  5. You cannot modify the parent for symbols under the MSP_RegionModificationOtherTmp and MSP_RegionModificationOtherPrm categories.
  6. Complete the following fields:

    1. Account: Type a name for the difference account. The account name can have a maximum of 30 characters. The maximum length for Longview symbol names is 31, but for difference symbols, one character is reserved for the names of the Calculated and Adjustment system symbols, which are automatically created.

    2. Description: Type a description for the difference account. The description can have a maximum of 87 characters. The maximum length for Longview symbol descriptions is 100; however, for difference symbols, 13 characters are reserved for the descriptions of the Calculated and Adjustment system symbols, which are automatically created.

    3. 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.

    4. Income/Equity/OCI: This field only displays when Use Income/Equity/OCI Setting is selected in the System Settings editor. The default for this setting is based on the value set for Account Default Setting for Deferred Tax Income/ Equity/OCI in the System Settings editor. If you modify Income/Equity/OCI for a NIBT account that has a calculation method set for Actuals Calculation Method, you must also update the Target Elements setting (for both default settings and any entity override settings) to a valid value for the new Income/Equity/OCI classification. Specify the Income/Equity/OCI classification for the account using one of the following values:

      • Income — Classifies the account as an Income account.
      • Equity — Classifies the account as an Equity account.
      • OCI — Classifies the account as an Other Comprehensive Income account.
  7. For Parent, type the name of the parent symbol for the account, or select a parent in the drop-down list. Alternatively, you can use the symbol selector.
  8. Do one of the following:
    • If you are modifying a difference account, continue to the next step.
    • If you are modifying a subtotal account, continue to step 9.
  9. Update the calculation settings. See Regional Modifications calculation settings.
  10. Click OK. The account updates based on your changes.

    Note: If you update difference symbols that impact TARF, you must also open the Tax Account Rollfoward Data Transfer editor and click Save to include the new symbols in the list used to trigger the calculation.

  11. When you are finished, click Save.
  12. If you want to run calculations based on the changes you have made, click Run Calculations.

Overriding regional modification settings for a region

If you have regions that should use difference or modification account automation settings than the defaults, you can override the settings for that specific region.

Default settings are those specified for the DIM3SET — Details Default symbol.

Note: You can override default settings for leaf accounts and regions onl

To override regional modification settings for a region:

  1. In the Tax Provision navigation pane, click Administration.
  2. Expand Accounts, and then expand Regional Modifications.
  3. Click Regional Modifications. The Regional Modifications editor opens with the RegTemp — Regional Temporary Differences page in view, displaying the accounts and their default settings.
  4. On the editor toolbar, click Region.
  5. In the Region box, type the name of the region for which to override the account settings, or select the region in the drop-down list. Alternatively, you can use the symbol selector.
  6. Click Update. The account settings update to reflect the selected region.
  7. Depending on the type of regional modification account you want to override, remain on the RegTemp — Regional Temporary Differences page and continue to the next step, or select one of the following categories from the Category list on the page toolbar:
    • RegPerm — Regional Permanent Differences
    • RegEQPerm — Regional Equity Permanent Differences
    • RegOCIPerm — Regional OCI Permanent Differences
    • MSP_RegionModificationOtherPrm — Other Regional Permanent Modifications for other taxes, special deductions, and pre- and post-apportionment adjustments.
    • MSP_RegionModificationOtherTmp — Other Regional Temporary Modifications for regional modifications related to loss carry forwards and net operating losses.

  8. Select Override Current Settings for the account for which to specify regional override settings.

    Note:

    • You can use the Current Override column to determine whether an account already has an override for the selected region and whether there is an override to that override for an entity or automation group. This information displays in the format Region override + Entity override.

    • You can override regional overrides for an entity. For more information, see Overriding a regional override for an entity or automation group.

  9. Update the calculation settings. See Regional Modifications calculation settings.
  10. When you are finished, click Save.
  11. If you want to run calculations based on the changes you have made, click Run Calculations.

Overriding a regional override for an entity or automation group

You can further override any regional overrides for an entity or an automation group.

To override a regional override for an entity or automation group:

  1. In the Tax Provision navigation pane, click Administration.
  2. Expand Accounts, and then expand Regional Modifications.
  3. Click Regional Modifications. The Regional Modifications editor opens with the RegTemp — Regional Temporary Differences page in view, displaying the accounts and their default settings.
  4. On the editor toolbar, click Region.
  5. In the Region box, type the name of the region that you want to override for an entity, or select the region in the drop-down list. Alternatively, you can use the symbol selector.
  6. On the editor toolbar, click Entity.
  7. In the Entity box, type the name of the entity or automation group for which to override the regional accounts or select the entity or automation group in the drop-down list. Alternatively, you can use the symbol selector.

    Note: You can override regional settings for leaf entities and automation groups only.

  8. Click Update. The account settings update to reflect the selected region and entity or automation group.
  9. Depending on the type of regional modification account you want to override, remain on the RegTemp — Regional Temporary Differences page and continue to the next step, or select one of the following categories from the Category list on the page toolbar:
    • RegPerm — Regional Permanent Differences
    • RegEQPerm — Regional Equity Permanent Differences
    • RegOCIPerm — Regional OCI Permanent Differences
    • MSP_RegionModificationOtherPrm — Other Regional Permanent Modifications for other taxes, special deductions, and pre- and post-apportionment adjustments.
    • MSP_RegionModificationOtherTmp — Other Regional Temporary Modifications for regional modifications related to loss carry forwards and net operating losses.
  10. Select Override Current Settings for the account for which to specify entity override settings.

    Note: You can use the Current Override column to determine whether an account already has an override for the selected region and whether there is an override to that override for an entity or automation group. This information displays in the format Region override + Entity override.

  11. Update the calculation settings. See Regional Modifications calculation settings.
  12. When you are finished, click Save.
  13. If you want to run calculations based on the changes you have made, click Run Calculations.
Published:

Working With Regional Modifications

In Multi-Regional Provision systems, you can automate regional modifications using the Regional Modifications editor. You can automate the following accounts:

  • Regional Permanent Differences. You can source these modifications from either the general ledger value or a national-level provision account (for example, a permanent or temporary difference account).
  • Regional Temporary Differences. You can source these modifications from either the general ledger value or a national-level provision account (for example, a permanent or temporary difference account).
  • Other Regional Permanent Modifications. You can source these modifications from either the general ledger value or a national-level provision account (for example, a permanent or temporary difference account).
  • Other Regional Temporary Modifications. You can source these modifications from either the general ledger value or a national-level provision account (for example, a permanent or temporary difference account).

The Regional Automation Rule Type determines the calculation method for multi-regional provision accounts and can be one of the following:

  • Year-to-Date Balance — Multiplies the source by the specified percentage to calculate the values for the current year column of the multi-regional current provision (current tax charge). For example, you can set up regional permanent different accounts to be equal to the general ledger or national-level provision accounts multiplied by the specified percentage.

  • Change In Balance — Uses the difference between the current year-to-date amount and the prior year ending balance of a single or multiple accounts multiplied by the specified percentage to calculate the current year column of the multi-regional current provision (current tax charge).

  • Multi-Regional — Same Region — Adds back only the regional tax for the home region. This modification represents an adjustment to the standard Longview Tax add-back so that the net add-back represents only the regional taxes for the home region. This type is commonly used for the regional income tax reversal.

  • Multi-Regional — Other Regions — Adds back all regions except for the home region. This modification represents an adjustment to the standard Longview Tax add-back so that the net add-back represents all regional taxes excluding the home region. This type is commonly used for the regional income tax reversal.

Use the Regional Modifications editor to define the following:

  • account/reporting method (elements)/details/segments intersection that contains the source value for automation

  • the percentage to apply to the source value to calculate the regional modification (the percentage can range from 100% to -100%)

Regional Modifications calculation settings

Use this automation to calculate values in the provision for permanent and temporary difference accounts and in the gross temporary difference rollforward for temporary difference accounts. The amounts may be calculated to the current year, equity, and OCI columns, depending on whether Use Income/Equity/OCI Setting is selected or cleared in the System Settings editor and the Target Elements setting for the difference account.

Field Notes
Regional Automation Rule Type Specify the calculation method to use for actuals, using one of the following values:
  • Year-to-Date Balance — Multiplies the source by the specified percentage to calculate the values for the current year column of the multi-regional current provision (current tax charge). For example, you can set up regional permanent different accounts to be equal to the general ledger or national-level provision accounts multiplied by the specified percentage.
  • Change in Balance — Uses the difference between the current year-to-date amount and the prior year ending balance of a single or multiple accounts multiplied by the specified percentage to calculate the current year column of the multi-regional current provision (current tax charge).
  • Multi-Regional Provision — Same Region — Adds back only the regional tax for the home region. This modification represents an adjustment to the standard Longview Tax add-back so that the net add-back represents only the regional taxes for the home region. This type is commonly used for the regional income tax reversal.
  • Multi-Regional Provision — Other Regions — Adds back all regions except for the home region. This modification represents an adjustment to the standard Longview Tax add-back so that the net add-back represents all regional taxes excluding the home region. This type is commonly used for the regional income tax reversal.
% Specify the percentage of the amount to transfer. The amount transferred is the percentage specified multiplied by the source amount.

The percentage must be a number from -100 through 100 and can have a maximum of two decimal places.
Source Accounts Specify the source account for the difference account. You can select one or more parent or leaf symbols from the chart of accounts.

Valid source accounts are those set for Current Tax Automation — Valid Source Accounts in the System Settings editor.
Source Reporting Methods Specify the source reporting method for the difference account. You can select one or more parent or leaf symbols.

Valid source reporting methods are those set for Current Tax Automation — Valid Source Reporting Methods in the System Settings editor.
Source Details This field displays only if a value is set for Current Tax Automation — Target Detail Symbol in the System Settings editor. If Current Tax Automation — Target Detail Symbol is cleared, all details are transferred from and to the same symbols.

Specify the source details for the difference account. You can select one or more parent or leaf symbols.

Valid source details are those set for Current Tax Automation — Valid Source Details Symbols in the System Settings editor.
Source Segments This field displays only if a value is set for Current Tax Automation — Target Segment Symbol in the System Settings editor. If Current Tax Automation — Target Segment Symbol is cleared, all segments are transferred from and to the same symbols.

Specify the source segments for the difference account. You can select one or more parent or leaf symbols.

Valid source segments are those set for Current Tax Automation — Valid Source Segments Symbols in the System Settings editor.
Target Elements This field displays if Use Income/Equity/OCI Setting is selected in the System Settings editor. If Use Income/ Equity/OCI Setting is cleared, all added accounts are classified as Income accounts.

Specify the target elements for the difference account. The valid target elements values are dependent on the setting for Income/Equity/OCI.

  • If Income/Equity/OCI is set to Income, the valid value is Income.
  • If Income/Equity/OCI is set to Equity, the valid values are Equity or Equity and Income.

    Note: Equity and Income is not a valid value for temporary difference accounts.

  • If Income/Equity/OCI is set to OCI, the valid values are OCI or OCI and Income.

    Note: OCI and Income is not a valid value for temporary difference accounts.
Interim Calculation Method

Specify the calculation method for interim using one of the following values:

  • Annualize — Calculates the forecast current year column value by annualizing the current year-to-date balance. The interim current year column is equal to the current year-to-date amount divided by the current period multiplied by the number of remaining periods in the year. The forecast current year column is the sum of the current year to date column and the interim current year column. For example, assuming the value of an account at the end of the first quarter is 3000, the interim current year column is calculated as (3000/3) * (12-3). The annualized value in the forecast current year column is 3000 + 9000.
  • Prior Year — Calculates the forecast current year column value by using the year-to-date balance of the prior year-end current provision. The value in the interim current year column equals the prior year ending balance less the current year-to-date amount. For example, assuming the value of an account at the end of the first quarter is 3000, and the prior year ending balance was 24000, the interim current year column is calculated as 24000 — 3000. The prior year value in the forecast current year column is 3000 + 21000.
  • Forecast — Calculates the forecast current year column value by using the balance of the forecast current year input. The value in the interim current year column equals the forecast current year input balance less the current year-to-date amount. For example, assuming the value of an account at the end of the first quarter is 5000, and the forecast current year input balance is 20000, the interim current year column is calculated as 20000 — 5000. The forecast value in the forecast current year column is 5000 + 15000.

Adding regional permanent and temporary difference accounts

You can add regional permanent and temporary difference accounts using the Regional Modifications editor.

Note: You cannot add other regional modifications using this editor. For information on adding other regional modifications, contact your Professional Services representative.

To add a regional modification:

  1. In the Tax Provision navigation pane, click Administration.
  2. Expand Accounts, and then expand Regional Modifications.
  3. Click Regional Modifications. The Regional Modifications editor opens with the RegTemp — Regional Temporary Differences page in view, displaying the accounts and their default settings.
  4. Depending on the type of difference account you want to add, remain on the RegTemp — Regional Temporary Differences page and continue to the next step, or select one of the following categories from the Category list on the page toolbar:
    • RegPerm — Regional Permanent Differences
    • RegEQPerm — Regional Equity Permanent Differences
    • RegOCIPerm — Regional OCI Permanent Differences

    Note: You cannot add other regional modifications to the MSP_RegionModificationOtherPrm and MSP_RegionModificationOtherTmp categories using this editor. You can, however, modify the names and some symbol properties. For more information, see Modifying default settings for regional modifications.

  1. Select the row under the appropriate parent for the difference account, and do one of the following:
    • To add a difference account, click Difference.
    • To add a subtotal account, click Subtotal.

    Note: If you want to select a leaf symbol as the parent for the regional difference account, you must select the parent symbol manually in step 7. Otherwise, the parent of your selected leaf symbol is automatically set as the parent for the difference account. For more information, see “Modifying default settings for regional modifications”.

  2. A new row appears.
  3. Complete the following fields:

    1. Account: Type a name for the difference account. The account name can have a maximum of 30 characters. The maximum length for Longview symbol names is 31, but for difference symbols, one character is reserved for the names of the Calculated and Adjustment system symbols, which are automatically created.

    2. Description: Type a description for the difference account. The description can have a maximum of 87 characters. The maximum length for Longview symbol descriptions is 100; however, for difference symbols, 13 characters are reserved for the descriptions of the Calculated and Adjustment system symbols, which are automatically created.

    3. 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.

    4. Income/Equity/OCI: This field only displays when Use Income/Equity/OCI Setting is selected in the System Settings editor. The Longview default for this setting is based on the value set for Account Default Setting for Deferred Tax Income/Equity/OCI in the System Settings editor. If you modify Income/Equity/OCI for a difference account that has a calculation method set for Actuals Calculation Method, you must also update the Target Elements setting (for both default settings and any entity override settings) to a valid value for the new Income/Equity/OCI classification. Specify the Income/Equity/OCI classification for the account using one of the following values:

      • Income — Classifies the account as an Income account.
      • Equity — Classifies the account as an Equity account.
      • OCI — Classifies the account as an Other Comprehensive Income account.
  4. For Parent, type the name of the parent symbol for the difference account, or select a parent in the drop-down list. Alternatively, you can use the symbol selector.
  5. Do one of the following:
    • If you are adding a difference account, continue to the next step.
    • If you are adding a subtotal account, continue to step 11.
  6. Set the calculation options. See Regional Modifications calculation settings.
  7. Click OK. The account appears in the hierarchy.

    Note: If you add difference symbols that impact TARF, you must also open the Tax Account Rollfoward Data Transfer editor and click Save to include the new symbols in the list used to trigger the calculation.

  8. When you are finished, click Save.
  9. If you want to run calculations based on the changes you have made, click Run Calculations.

Modifying default settings for regional modifications

You can modify the default settings for existing regional book-tax differences and modification accounts using the Regional Modifications editor. These default settings are applied to all regions unless the region uses an override for that account.

To modify regional permanent and temporary differences and regional modification accounts:

  1. In the Tax Provision navigation pane, click Administration.
  2. Expand Accounts, and then expand Regional Modifications.
  3. Click Regional Modifications. The Regional Modifications editor opens with the RegTemp — Regional Temporary Differences page in view, displaying the accounts and their default settings.
  4. Depending on the type of regional modification account you want to modify, remain on the RegTemp — Regional Temporary Differences page and continue to the next step, or select one of the following categories from the Category list on the page toolbar:
    • RegPerm — Regional Permanent Differences
    • RegEQPerm — Regional Equity Permanent Differences
    • RegOCIPerm — Regional OCI Permanent Differences
    • MSP_RegionModificationOtherPrm — Other Regional Permanent Modifications for other taxes, special deductions, and pre- and post-apportionment adjustments.
    • MSP_RegionModificationOtherTmp — Other Regional Temporary Modifications for regional modifications related to loss carry forwards and net operating losses.
  5. You cannot modify the parent for symbols under the MSP_RegionModificationOtherTmp and MSP_RegionModificationOtherPrm categories.
  6. Complete the following fields:

    1. Account: Type a name for the difference account. The account name can have a maximum of 30 characters. The maximum length for Longview symbol names is 31, but for difference symbols, one character is reserved for the names of the Calculated and Adjustment system symbols, which are automatically created.

    2. Description: Type a description for the difference account. The description can have a maximum of 87 characters. The maximum length for Longview symbol descriptions is 100; however, for difference symbols, 13 characters are reserved for the descriptions of the Calculated and Adjustment system symbols, which are automatically created.

    3. 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.

    4. Income/Equity/OCI: This field only displays when Use Income/Equity/OCI Setting is selected in the System Settings editor. The default for this setting is based on the value set for Account Default Setting for Deferred Tax Income/ Equity/OCI in the System Settings editor. If you modify Income/Equity/OCI for a NIBT account that has a calculation method set for Actuals Calculation Method, you must also update the Target Elements setting (for both default settings and any entity override settings) to a valid value for the new Income/Equity/OCI classification. Specify the Income/Equity/OCI classification for the account using one of the following values:

      • Income — Classifies the account as an Income account.
      • Equity — Classifies the account as an Equity account.
      • OCI — Classifies the account as an Other Comprehensive Income account.
  7. For Parent, type the name of the parent symbol for the account, or select a parent in the drop-down list. Alternatively, you can use the symbol selector.
  8. Do one of the following:
    • If you are modifying a difference account, continue to the next step.
    • If you are modifying a subtotal account, continue to step 9.
  9. Update the calculation settings. See Regional Modifications calculation settings.
  10. Click OK. The account updates based on your changes.

    Note: If you update difference symbols that impact TARF, you must also open the Tax Account Rollfoward Data Transfer editor and click Save to include the new symbols in the list used to trigger the calculation.

  11. When you are finished, click Save.
  12. If you want to run calculations based on the changes you have made, click Run Calculations.

Overriding regional modification settings for a region

If you have regions that should use difference or modification account automation settings than the defaults, you can override the settings for that specific region.

Default settings are those specified for the DIM3SET — Details Default symbol.

Note: You can override default settings for leaf accounts and regions onl

To override regional modification settings for a region:

  1. In the Tax Provision navigation pane, click Administration.
  2. Expand Accounts, and then expand Regional Modifications.
  3. Click Regional Modifications. The Regional Modifications editor opens with the RegTemp — Regional Temporary Differences page in view, displaying the accounts and their default settings.
  4. On the editor toolbar, click Region.
  5. In the Region box, type the name of the region for which to override the account settings, or select the region in the drop-down list. Alternatively, you can use the symbol selector.
  6. Click Update. The account settings update to reflect the selected region.
  7. Depending on the type of regional modification account you want to override, remain on the RegTemp — Regional Temporary Differences page and continue to the next step, or select one of the following categories from the Category list on the page toolbar:
    • RegPerm — Regional Permanent Differences
    • RegEQPerm — Regional Equity Permanent Differences
    • RegOCIPerm — Regional OCI Permanent Differences
    • MSP_RegionModificationOtherPrm — Other Regional Permanent Modifications for other taxes, special deductions, and pre- and post-apportionment adjustments.
    • MSP_RegionModificationOtherTmp — Other Regional Temporary Modifications for regional modifications related to loss carry forwards and net operating losses.

  8. Select Override Current Settings for the account for which to specify regional override settings.

    Note:

    • You can use the Current Override column to determine whether an account already has an override for the selected region and whether there is an override to that override for an entity or automation group. This information displays in the format Region override + Entity override.

    • You can override regional overrides for an entity. For more information, see Overriding a regional override for an entity or automation group.

  9. Update the calculation settings. See Regional Modifications calculation settings.
  10. When you are finished, click Save.
  11. If you want to run calculations based on the changes you have made, click Run Calculations.

Overriding a regional override for an entity or automation group

You can further override any regional overrides for an entity or an automation group.

To override a regional override for an entity or automation group:

  1. In the Tax Provision navigation pane, click Administration.
  2. Expand Accounts, and then expand Regional Modifications.
  3. Click Regional Modifications. The Regional Modifications editor opens with the RegTemp — Regional Temporary Differences page in view, displaying the accounts and their default settings.
  4. On the editor toolbar, click Region.
  5. In the Region box, type the name of the region that you want to override for an entity, or select the region in the drop-down list. Alternatively, you can use the symbol selector.
  6. On the editor toolbar, click Entity.
  7. In the Entity box, type the name of the entity or automation group for which to override the regional accounts or select the entity or automation group in the drop-down list. Alternatively, you can use the symbol selector.

    Note: You can override regional settings for leaf entities and automation groups only.

  8. Click Update. The account settings update to reflect the selected region and entity or automation group.
  9. Depending on the type of regional modification account you want to override, remain on the RegTemp — Regional Temporary Differences page and continue to the next step, or select one of the following categories from the Category list on the page toolbar:
    • RegPerm — Regional Permanent Differences
    • RegEQPerm — Regional Equity Permanent Differences
    • RegOCIPerm — Regional OCI Permanent Differences
    • MSP_RegionModificationOtherPrm — Other Regional Permanent Modifications for other taxes, special deductions, and pre- and post-apportionment adjustments.
    • MSP_RegionModificationOtherTmp — Other Regional Temporary Modifications for regional modifications related to loss carry forwards and net operating losses.
  10. Select Override Current Settings for the account for which to specify entity override settings.

    Note: You can use the Current Override column to determine whether an account already has an override for the selected region and whether there is an override to that override for an entity or automation group. This information displays in the format Region override + Entity override.

  11. Update the calculation settings. See Regional Modifications calculation settings.
  12. When you are finished, click Save.
  13. If you want to run calculations based on the changes you have made, click Run Calculations.
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