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Deferred Tax calculation - Hybrid approach

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edited Jan 15, 2021 6:01PM in Tax Reporting 1 comment

Summary

Deferred Tax calculated using Balance Sheet and PL Accounts

Content

We have a requirement wherein the deferred tax is calculated through Balance Sheet and PL accounts. While PL accounts are available to be mapped under 'Temporary DIfferences' member, in case Balance sheet accounts are mapped, the 'Current Provision' calculation gets impacted.

Any best way to achieve this as we need to seek automation as well i.e. Copy of Closing Balance to Current Year Opening Balance as well.

Thanks,

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