Applying Closing Rate to All Current Year Movement

You can configure a substitution variable to apply the Closing Rate to all Current Year Movements, rather than applying the current year rate by default.

Creating this variable does not impact the data Entities, so before the first consolidation after setting the property, you must ensure that Entities are set to Impacted status.

To apply the Closing Rate to all Current Year Movements:

  1. From the Home page, select Tools, and then select Variables.
  2. From the Variables form, select Substitution Variables.
  3. Click the Add iconAdd icon to create a new variable.
  4. For the new variable, enter the following information:
    • Under Cube, select Consol
    • Under Variable Name, enterApplyDeferredTaxClosingRate.
    • Under Value, entertrue.

    Substitution Variable form
  5. Click Save.
  6. Before consolidating the application, perform the following steps to ensure that all Entities are set to Impacted status:
    1. From the Home page, select Application, then Overview, and then select Rules.
    2. On the Business Rules page, under Name, select Impact Entities with Data in Consol Cube.
    3. Click Launch to apply the business rule before running Consolidation.

    The system first calculates the Automated (TRCS_CYSYS) and Adjustment (TRCS_CYADJ) members at the Current Year tax rate. It will then calculate the difference between the Current Year tax rate and the closing rate, and stores the amount in the Automated Override Tax Rate Delta(TRCS_CYSysTR) / Adjustment Override Tax Rate Delta(TRCS_CYAdjTR) movement members.

    If an Account is identified as an Equity Temp account, the TRCS_CYSys and TRCS_CyAdj amounts are reversed to TRCS_CYSysReversal and TRCS_CyAdjReversal.