Deferred Tax Items
Temporary differences between the accounting base and the tax base. Almost universally kept in a spreadsheet, and the reason the tax note is the last thing finished at every year end.
Where to find it
- Module: Accounting
- Group: Close & Compliance
- Section: Tax
- Screen: Deferred Tax Items
Address in the console: /accounting/deferred-tax-items
List · 9 columns · 17 fields on its form · 2 of them required · 1 action
What the list shows
These are the columns of the list, in the order they are drawn. Any of them can be sorted on, filtered on, hidden, or exported.
| Column | Kind | Field name |
|---|---|---|
| Code | Code | code |
| Name | Text | name |
| Category | Status | category |
| Difference | Status | difference_type |
| Book area | Code | book_area_code |
| Tax area | Code | tax_area_code |
| Rate % | Number | tax_rate_pct |
| Recognition | Status | recognition_basis |
| Periods | Number | balance_count |
The form
What is asked for when a record is created here. Required fields are marked; a choice drawn from a configuration list is one an administrator can extend without a release.
| Field | Type | Choices | Notes |
|---|---|---|---|
| Code required | Text | ||
| Name required | Text | ||
| Category | Choice | fixed_assets, provisions, leases, revenue, inventory, losses, pensions, intangibles, fair_value, other | |
| Jurisdiction | Choice | Looked up from existing records | |
| Source | Choice | asset_area, lease, provision, manual, loss_carryforward | An asset area source reads both bases from the register rather than asking for them. |
| Book area | Choice | Looked up from existing records | |
| Tax area | Choice | Looked up from existing records | |
| Account | Choice | Looked up from existing records | |
| Difference type | Choice | taxable, deductible | A deductible difference gives an asset; a taxable one gives a liability. The sign is the whole of it. |
| Tax rate % | Number | ||
| Recognition | Choice | full, partial, not_recognised | A deferred tax asset is recognised only to the extent future profits will absorb it. |
| Recognised % | Number | ||
| Expected reversal (years) | Number | ||
| Deferred tax asset account | Choice | Looked up from existing records | |
| Deferred tax liability account | Choice | Looked up from existing records | |
| Active | Yes or no | ||
| Notes | Long text |
What you can do here
Calculate primary
Asks for: Period (YYYY-MM)*
* required
The rules that apply here
Everything on this screen obeys the platform rules rather than rules of its own. The ones worth knowing before you use it:
- Narrowing a list — search, conditions, sort, totals, export and saved views.
- What may be changed — the five grounds a record may not be edited on.
- Companies and business units — what the switcher above this list is doing to it.
- Creating a record — required fields, where choices come from, and how the number is allocated.
- Importing a spreadsheet — this screen accepts one, and it runs through the same rules as typing.