Learn About Rollovers

After closing a period, the Rollover process is used to a copy relevant configuration 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. For example, if the Target period is set to P6, the source period will be P5. If the Target period is P1, the source period will the P12 of the prior year. When you perform a Rollover, the Rollover process includes all level 0 Entities including those outside of the FCCS_Total Geography hierarchy.

Note:

If you want to rollover a configuration from one Scenario to multiple Scenarios, Years, and Periods, use Copy Configuration. See Copying Configurations Across Scenarios, Years, and Periods.

Rollover can be used with any of the following configurations:

• Tax Rates - Copy tax rates to the selected target POV

  Note: When the Target period is P1, the system maps the prior year closing rate to the Target year opening rate. See below:

  Current Year Current Tax Rate => Prior Year Current Tax Rate

  Closing Deferred Tax Rate - Non Current => Opening Deferred Tax Rate - Non Current

  Closing Deferred Tax Rate - Non Current => Closing Deferred Tax Rate - Non Current

  Closing Regional Tax Apportionment => Opening Regional Tax Apportionment

  Closing Regional Tax Apportionment => Current Year Regional Tax Apportionment

  Closing Regional Tax Apportionment => Closing Regional Tax Apportionment

  Override Tax Rate Closing => Override Tax Rate Opening

  Override Tax Rate Closing => Override Tax Rate Current Year

  Override Tax Rate Closing => Override Tax Rate Closing

  Override Tax Rate Apportionment Closing => Override Tax Rate Apportionment Opening

  Override Tax Rate Apportionment Closing => Override Tax Rate Apportionment Current year

  Override Tax Rate Apportionment Closing => Override Tax Rate Apportionment Closing

• Exchange Rates - Copy exchange rates to the selected target POV

  Exchange Rate maps as below when the Target period is P1:

  Average Rate => Average Rate

  Ending Rate => Ending Rate

  Exchange Rate maps same when target period is other than P1. For Exchange Rates, Copy and Rollover mappings are same.

  Note: Fx Rates - Opening is populated from => Prior Year, P12, Ending Rate, when Compute Rates run.

• 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

  Year of Expiration maps as below when the Target period is P1 :

  Current Year => Current Year-1

  Current Year-1 => Current Year-2

  ...

  ...

  ...

  Year of Expiration maps as below when the Target period is other than P1 (same behavior as Copy Configuration):

  Current Year => Current Year

  Current Year-1 => Current Year-1

For each subsequent period, the rollover process can be utilized to move the above-mentioned items. You can select one or more configurations to rollover 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 configuration in the target Scenario, Year, and Period if selected will be overwritten during the rollover.