Working with Source Account Foreign Exchange (FX) Rate

Tax Reporting allows for a Target Account to use the same FX translation rate as another Source Account. In some cases, accounts need to match the FX rate of another account. This can be true for Credits, Losses, NIBT Book Adjustments, NIBT Reclassifications and others. The translated values must flow consistently from: Current Provision -> Deferred Tax -> ETR -> NOL/Credit Detail -> CTP -> TAR

For example, see the screenshot below:

Translated Values

If NOL (see, Working with Net Operating Losses (NOL)/Credits) translates at a different FX rate versus Taxable Income Before Loss with Special Deductions, then you get an inconsistent value in Parent/Reporting Currency. However, if NOL translates using the rate of Taxable Income Before Loss with Special Deductions, then you get the correct Parent/Reporting Currency value for Taxable Income.