1. Working with Tax Reporting
  2. Working with Regional Tax Process
  3. Working with Regional Current Provision
  4. Working with the Regional Current Provision Form

Working with the Regional Current Provision Form

You use the Regional Current Provision form to adjust, review and calculate the current tax expense for the Regional provision.

You can enter any additional permanent and temporary difference adjustments, as well as other non-provisioning amounts in the form. See also Working with the National Current Provision Form.

To calculate the current tax expense for the Regional provision:

  1. From the Home page, select Tax Provision Regional, and then Package Regional.
  2. Select the Current Provision Regional tab.
    The Regional Current Provision screen
  3. Optional: Click Edit Members Edit Members icon to modify the POV.
  4. Optional: Under Adjustments, enter any adjustments.
  5. From Actions, select Consolidate to recalculate the Current Provision data form.

    Note:

    If the tax is not calculating for specific accounts, the properties may not be set correctly. For example, you must ensure the following attributes are set on the Regional Account for the Permanent and Temporary Differences:
    • Set Tax Data Type to PreTax.
    • Set Tax Type to Regional.

    Verify the property settings in the Dimension Editor, and correct them, if required. See Editing Member Properties using the Simplified Dimension Editor

    Note:

    If national data is not flowing to the regional provision for some tax difference accounts, it may be because some properties are not configured correctly. You must ensure the following attribute is set on the tax difference account. To do so:
    • Set Tax Type to NationalAndRegional. This drives national data for the tax account to be passed to the region/province. For description of account member attributes, see the Table Account Properties under Defining Account Properties in Administering Tax Reporting.

    • Verify the property settings in the Dimension Editor, and correct, if required. See Editing Member Properties using the Simplified Dimension Editor.

    • Ensure that the region/province is set as active in the Tax Rates schedule. For configuring the Active Region Flag, see the table Tax Rate Type under Setting Up Tax Rates in Administering Tax Reporting.

  6. Verify the results for the calculated Current Provision Regional Expense.