Tax Book Adjustments
The tax department has requested the tax books stay
open for an extended period of time (months) so they can make
adjustments as needed. Our understanding is that as long as the tax
books are open, we cannot process fixed assets (in GAAP One Book)
without negatively effecting the open tax books. This will also put
the books out of sync (which we ran into last year).
Is their a way to close the tax books but still make corrections to the 2008 period?
Is their a way to close the tax books but still make corrections to the 2008 period?
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