Corp Book vs. Tax Book - how to have (some) different assets in each book
During our setup for certain countries (version 11.5.10), we're finding that that although most assets are the same for the Corporate and Tax books - there are situations where assets are capitalizable under GAAP but not locally - - - or are capitalizable for Local Tax Authorities - but not for GAAP.
We'd planned on using a Corporate book and associated Tax book for each country, but I wanted to verify if that it is possible, given the above. It appears that the Corporate book 'feeds' all additions to the Tax book, and assets can't be directly added to just the Tax book.