After closing a period, the Rollover process is used to copy relevant data from the previous period to use as a starting point for the tax provision and CbCR process with the new Target period. The prior period is considered to be the Source period. Data must be populated in the selected POV (Source Scenario, Year and Period). When you perform a Rollover, the Rollover process is also applicable to any entity outside of the FCCS_Total Geography hierarchy.
Note:If you want to roll data from one Scenario to multiple Scenarios, Years, and Periods, use Copy Configuration. See Copying Configurations Across Scenarios, Years, and Periods.
When the application is created, the System Administrator must set up:
- Tax Rates - Copy tax rates to the selected target POV
- Exchange Rates - Copy exchange rates to the selected target POV
- Tax Automation Rules - Copy tax automation rules to the selected target POV
- CbCR Automation Rules - Copy CbCR Automation Rules to populate Table 1 data for the target period
- CbCR Filing - (Country by Country Reporting) Roll over data for Table 2, Table 3, Constituent Entity Information Data, Reporting Entity Information and Message Specification
- Year Of Expiration in Tax Losses/Credits - Copy year of expiration to selected target POV
For each subsequent period, the rollover process can be utilized to move the above-mentioned items. You can select one or more tasks to run at one time, or run all at once. When the copy is complete, the form displays the date and time that the copy was completed.
Caution:When you perform a rollover, any existing data for selected items will be overwritten during the rollover.