Setting up Tax Difference Calculation

Tax difference calculations must be set up if there is a tax difference for the presentation of fixed asset entries, item cost entries, or finance transactions in bookkeeping and tax accounting for which expenses to write off must be fixed. To set tax difference, choose the Setup action, and then choose the Tax Differences action.

Setting Up Posting Groups

In the Tax Difference Posting Groups you must determine finance accounts from the set up chart of accounts, where finance transactions with tax differences are accounted for.

If there are journal lines that must be normalized before writing off expenses, those journals cannot be posted without running a periodic job of normalizing.

The following procedure shows how to process a normalization function.

1. In the Future Expenses Journal window, choose the Calculate Depreciation by Norm. action
2. In the Calculate FE Depr. With Norm window, on the Tax Difference FastTab, enter the filter for the tax difference.
3. On the Options FastTab, enter the accounting period for which the counting is done.
4. Choose the Print action to print the report.
5. Post the future expenses journal.

See Also

Tax Registers
Tax Differences
Tax Difference Registers
Set Up Norm Jurisdictions
Post Tax Differences

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