Tax Basis Balance Sheet Subgroup

The accounts in the Tax Basis Balance Sheet subgroup are the Balance Sheet accounts used to capture Balance Sheet data for Tax Basis purposes. It should have a similar account structure as the Book Accounts subgroup, but should have additional temporary difference accounts to reflect what the balance should be for the tax basis. Therefore, this hierarchy should contain a combination of Book accounts and Tax accounts.

You must configure this account hierarchy where the Book accounts and Tax accounts need to be inserted into the hierarchy structure. For every parent account containing both Book accounts and Tax accounts, you must create a corresponding Tax Basis Balance Sheet parent account. Because this is for Balance Sheet comparison, you need to include only Book accounts for the Balance Sheet in the hierarchy.

Below is the Tax Basis Balance Sheet structure for the sample tax application. Accounts in bold and italic are parent accounts created to include both Book accounts and Tax accounts. Accounts indicated with an asterisk (*) are Tax accounts created for provisioning. Accounts indicated with a pound sign ( #) are Book accounts defined for the application. Additional details for the account structure TBBS_20000 and TBBS_30000 can be found in the metadata.