Working with RTA Bifurcate

Whenever Permanent or Temporary accounts are set up in the system as equity reversal, they used to be included in the Total Current Tax Expense during tax calculations. To overcome this issue the end users needed to make manual adjustments, so that Permanent or Temporary accounts which are tagged as equity reversal, are excluded from Total Current Tax Expense. The Return to Accrual (RTA) Bifurcate feature 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 helps the user avoid any manual adjustments in the Current Provision form.

Note:

If you have previously done any manual adjustments to enable RTA Bifurcate while/after creating the application, you must ensure to remove them, otherwise, it will result in doubling of data.

For more information, see: Working with RTA (Return to Accrual)