You can enable reporting and other optional features after creating an application; however, once enabled, these features cannot be disabled. To remove the features, you must create a new application.
To enable features in the application:
- From the Home page, click Applications, and then Configuration.
- On the Configure screen, click Enable Features.
- Select one or more features that you want to enable for the application:
IFRS reporting standard for the application. You may
select one or both of the following features:
- Deferred Tax Not Recognized (DTNR) to enter deferred tax not recognized amounts on a tax effected basis as P&L or non-P&L amounts.
Consolidated Effective Tax Rate
Reconciliation to calculate the National and
Regional ETR for the total tax provision. If you select
Consolidated Effective Tax Rate
Reconciliation, the following forms are
automatically activated in the application:
- Consolidated ETR IFRS Rate by Entity
- Consolidated ETR IFRS by Entity showing the Accounts calculated using Entity CETR IFRS rates
- Country by Country Reporting (CbCR) to calculate analyses to assess risk as a result of transfer pricing strategies.
Interim Tax Provision (Applications created prior to
18.08)- This option is no longer available to select. If you
enabled Interim Tax Provision prior to Release 18.08, you can continue to
use this option to manually enter data, and calculate monthly or quarterly
tax provision using an annualized estimated effective tax rate, plus
discrete tax amount. Historic data is stored in the Forecast or other
scenario designated for Interim Tax Provision.
Note:With the exception of Interim Tax Provision (Applications created prior to 18.08), after a feature is enabled, it cannot be disabled. If you want to remove a feature, you must create a new application.
If you enabled Interim Tax Provision (Applications created prior to 18.08), but no longer want to use that version, you can select one or both of the options listed under Interim Tax Provision without creating a new application. Any historical data that exists for the application created prior to 18.08 is stored against a Forecast or other scenario that was used for Interim Provision.
Interim Tax Provision to calculate monthly or
quarterly tax provision using an Annualized Estimated Effective Tax Rate
(AEETR), plus discrete tax amounts. Data is automatically stored in the
TRCS_Interim ForecastScenario member, which is used for forecasting. You may select one or both of the following features:
- Total AEETR to get the value of the Total Tax AEETR from the Consolidated Effective Tax Rate for the Forecast Scenario.
- Detailed AEETR (Current and Deferred) to display Total Tax by adding Current Tax and Deferred Tax.
- Weighted Average to enable the weighted average to calculate the average foreign currency translation for the net income before tax for each base entity.
Dynamic Calc Jurisdiction Enabling this feature will
update the data storage type for out-of-the-box parent members of the
Jurisdiction dimension, such as TRCS_AllNational, TRCS_AllRegion to
Caution:Enabling this feature may improve Consolidation performance; however it may also result in a negative impact on Consolidation performance, for example in circumstances where extensive custom member formulas are involved. It is recommended that the impact to performance be assessed in a test environment before this feature is enabled in production.
Ownership Management enables the assignment of ownership percentages and consolidation methods to each Entity parent/child combination for each Scenario, Year, and Period combination. See also, Enabling Ownership Management in Applications
Note:Ensure the Data Source dimension is set to "Sparse" if Ownership Management is enabled. To verify or modify the performance setting for your application, go to Changing Performance Settings for the Data Source Dimension.
Current Tax Payable Automation enables the automation feature
allowing the users to map the calendar year profit and loss (CY P&L)
charge Automated, Equity/OCI Automated, and RTA(P&L) Automated and enter
the adjustment value. This feature also provides with Current Tax Payable
Automated and Current Tax Payable Details forms. The details form help the
users to track payments, refunds and transfers. See Managing Current Tax Payable Automated and Detail Forms and Managing Current Tax Payable Regional Automated and Detail Forms in
Working with Tax Reporting
Note:A new Config cube is created when you enable the current tax payable automation feature. All the mappings related to Current Tax Payable Automation are saved in Config Cube. See Creating Mappings for Current Tax Payable Automation.
- NOL Automation: enables you to configure the rules defining how the system should automatically defer, utilize, or expire tax losses and book the corresponding offset amounts. See Working with Net Operating Losses (NOL)/Credits
- RTA Bifurcate: comes with a new metadata which automatically pulls the data from all the Permanent and Temporary accounts which are tagged as Equity Reversal Target Accounts. This feature helps you avoid making any manual adjustments in the current provision form provided RTA automation is enabled in the application. See Working with RTA Bifurcate
- Tax Losses/Credits By Year of Expiration: enables you to easily group diverse closing carry forward data by the year of expiration. You can now view the Closing Carryforward details of the Tax losses/credits schedule by Year of Expiration from the Tax Losses/Credits forms. See Working with Tax Loss/Credit by Year of Expiration
- IFRS reporting standard for the application. You may select one or both of the following features:
- Click Enable to enable the selected features.
- When the system displays a message that the functionality has been enabled, click OK.
- Log off, and then log back on to see the enabled features.