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Configure NIBT Foreign Exchange (FX) Override

edited Jun 2, 2021 2:50AM in Tax Reporting (Direct Tax) 2 comments

Summary

Issue with NIBT Foreign Exchange (FX) Override in epm environment

Content

On migration of a TRCS application to the new epm environment there are two issues with NIBT FX Override:

  1. Translation. The balance in an NIBT adjustment account does not translate at the FX override rate specified. The standard FX rate is applied on translation to a reporting currency despite an FX override being configured.
  2. Difference Account. When configuring an NIBT override account in the NIBT section of the tax accounts, the accounts available for selection for the difference are not displayed as expected. It appears as only the parent TRCS_PermSTTotal when I was expecting the list of permanent adjustment accounts to choose from.
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