Inputting Top-Side Reporting Currency Adjustments For The Current And Total Provisions

Tax Provision allows you to enter top-side adjustments, which are adjustments that are recorded after the legal entity general ledgers have been closed.

Use the Reporting Currency Only Adjustments input app to provide flexibility where the translations in the tax database may not match the financial statements.

Reporting Currency Only Adjustments input app (NA0599)

Use this input app to input adjustments in reporting currency (rather than the entity’s local currency) for the current provision, and total provision.

To make currency only adjustments:

1. In the Tax Provision navigation pane, click Data Collection.
2. Expand National Annual.
3. Use the drop-down list or the symbol selector to select the appropriate entity. For more information, see Using the Symbol Selector.
4. Click NA0599 - Reporting Currency Only Adjustments.lvapp. The input app opens in the workspace.
5. Select the leaf reporting currency from the SourceC — Source Currencies hierarchy to input the reporting currency adjustment.

   Note: The input adjustment amount is reflected in the total reporting currency amount. For example, an adjustment input to the reporting currency USD for an entity with functional currency EUR is stored in USD and rolled into the TUSD amount.

6. Enter adjustments for the following accounts for the current year:
   1. RepCurAdjCurrentPL — Reporting Currency Only Adjustment – Current Provision: Reporting currency only adjustment to impact the current provision.
   2.  RepCurAdjTotalPL — Reporting Currency Only Adjustment – Total Provision: Reporting currency only adjustment to impact the total provision.
7. When you are finished, click Submit.