1. Working with Tax Reporting
  2. Working with National Tax Process
  3. Working with National FX Rates
  4. Working with Amount Override and Rate Override for Tax Accounts
  5. Applying Amount or Rate Override to a Tax Account

Applying Amount or Rate Override to a Tax Account

You use this feature to have an amount or rate override entered for tax account(s) by Movement, Jurisdiction, Multi-GAAP and custom dimensions. Following two new hierarchies are created under FCCS_Historical Accounts:

  • FCCS_Amount Override Accounts
  • FCCS_Rate Override Accounts

When an account exchange rate property is set as Historical Amount Override or Historical Rate Override, the system creates a shared member of the Account under respective hierarchy.

Historical_Accounts

Note:

  • FCCS_Rate Override Accounts and FCCS_Amount Override Accounts hierarchies have a shared member created if the account is a book account.

  • TRCS_Tax Rate Override Accounts and TRCS_Tax Amount Override Accounts hierarchies have a shared member created if the account is a tax account.

Example:

  • If an account is setup with tax attributes (Tax Data Type/Tax Type) then it will be treated as a Tax Account and it has "Exchange rate type" as Historical Amount Override, then it will be shared under "TRCS_Tax Amount Override Accounts" hierarchy.
  • If an Account is not a Tax Account and it has "Exchange rate type" as Historical Amount Override then it will be shared under "FCCS_Amount Override Accounts" hierarchy.

Related Topics: Working with Forms: FX Rates - Book Override and Tax Override Form