1. Country-Specific Features
  2. Mexico Help Topics
  3. Mexico-specific SuiteApps
  4. Mexico Deferred Taxes
  5. Running the Mexico Deferred Taxes Process

Running the Mexico Deferred Taxes Process

Note:

Only the Administrator, accountant, and CFO roles have access to the Mexico Deferred Taxes page. To grant access to other roles, see Granting Access to Scripts for the Mexico Deferred Taxes SuiteApp.

After you have entered all period data into the system, you can run the Mexico Deferred Taxes process to adjust the deferred taxes balances in your accounts.

You can only run the process after the end of the month and before the period is locked or closed.

The Mexico Deferred Taxes process includes the following transactions:

Warning:

Do not include transactions with an amount of zero, as they cause blocking executions.

By running this process, you can generate custom transactions and subsequent journal entries to record all payments made, and move taxes from transitory to target accounts.

To run the Mexico Deferred Taxes process:

  1. To go to the Mexico Deferred Taxes page, do one of the following:

    • As an Administrator, go to Setup> Tax> Mexico Deferred Taxes.

    • As an accountant or CFO, go to Financial> Other > Mexico Deferred Taxes.

  2. From the Subsidiary list, select the Mexican subsidiary for which you want to generate a transaction.

  3. From the Posting Period list, select the accounting period to which you want to post this transaction and journal entry.

  4. Click Generate Journal Entry.

    While the transaction and its subsequent journal entry are being generated, the Status column displays In progress. The system analyzes all payments made for the given subsidiary and period.

    Important:

    You can run a Mexico Deferred Taxes process only one time per each Posting Period and Subsidiary combination. However, if an error occurs while processing the transaction and the error is fixed, you can rerun the process.

    Note:

    Only one process can run at a time.

  5. Click Refresh to update the results.

    • If the process is successful, the status becomes Completed. A transaction and its corresponding journal entry are generated for each Mexico deferred tax code used on the payments analyzed.

    • If an error occurs that prevents the transaction from being created, the status becomes Error. After the error is fixed, you can rerun the process.

  6. When the process is complete, a link appears for each tax code in the View column. Click a link to open the Mexico Deferred Taxes transaction in a new page.

  7. From the Page list, select a page number to navigate through your results.

Related Topics

General Notices