1. Working with Tax Reporting
  2. Working with Regional Tax Process
  3. Working with Regional Current Provision
  4. Working with Regional Deferred Tax
  5. Reclassifying Total Deferred Expense Regional to Equity

Reclassifying Total Deferred Expense Regional to Equity

Tax Reporting has the ability to reclassify total deferred tax expense regional (all movements) to equity.This classification is specific to entity and jurisdiction. The accumulated deferred income tax is recorded on the utility’s balance sheet and the offset is a regulatory asset or liability.

Working with Reclassification

  • Enable Deferred Tax Expense to Equity feature for your application (in the Application-> Configuration screen). See also: Enabling Application Features

    Enable Deferred Tax Expense to Equity

  • After you enable Deferred Tax Expense To Equity feature for your application, system creates custom attribute "DefExpToEquity". You can apply this custom attribute to only regional jurisdiction member in the application.

    Custom Attribute DefExpToEquity

  • After you apply this attribute to the jurisdiction, system dynamically creates custom attribute for the entity member with jurisdiction member: DefExpToEquity<Jurisdiction_name> for example, DefExpToEquityUS_Blended.
  • You can apply DefExpToEquityUS_Blended custom attribute to the Entity member to use Deferred Tax Expense To Equity feature for that specific Jurisdiction and Entity member.

    Apply DefExpToEquityUS_Blended Custom Attribute to the Entity Member