Period End Journals Support in Tax Reporting Framework

Tax Reporting Framework supports Period End Journal entries. You can choose which general ledger entries to use when submitting a tax audit file. This support is extended to both accounts with and without SuiteTax. For more information about period end journals, see Period End Journal Entries.

You can customize your reporting preferences when generating tax audit files. See Setting Up Country Tax Reporting Preferences.

The period end journal settings and preferences are validated through your subsidiary settings. The options available for you in changing your preferences will differ depending on your subsidiary settings:

Subsidiary Setting			Country Tax Report Preference Options
Enable Period End Journal Entries	Create Balance Sheet Closing	Create Income Summary Journal	Balance Sheet Closing Entries	Balance Sheet Opening Entries	Income Statement Closing Entries
Cleared	Not Selected	Not Selected	Not Available	Not Available	Not Available
Enabled	Selected	Not Selected	Available	Available	Not Available
Enabled	Not Selected	Selected	Not Available	Not Available	Available
Enabled	Selected	Selected	Available	Available	Available

Note:

Aside from validating the Period End Journal setting in your subsidiary, Tax Reporting Framework also validates if the selected tax audit file is compatible with reporting Period End Journal entries. Refer to the country specific help topic of your tax audit file if the report provided is already compatible with Period End Journal entry reporting.

For more information on period end journal settings in your subsidiary, see Defining Subsidiary Settings for the Period End Journal Entries Feature.

General Notices