Changes in temporary differences
Go to Business income - Changes in temporary differences to calculate all temporary differences, change in deferred tax and deferred tax / tax assets in the balance sheet.
Do the following steps:
- First, you calculate all temporary differences between accounting and taxable values 01.01 and 31.12.
- Furthermore, you deduct any temporary differences that should not be included in the calculation basis for deferred tax / tax assets (for example, goodwill arising from merger / demerger).
- Consider offsetting tax-increasing and tax-reducing temporary differences and whether there are temporary differences that should not be offset.
- Calculate net deferred tax / tax assets in the balance sheet.
- Assess if deferred tax assets should be recognized in the balance sheet.
- Changes in temporary differences affecting tax payable is transferred to the calculation of total business income on the left hand side.
Values are automatically transferred to relevant subjects in the Business specification.
Under the tab Differences, tax payable, the system has calculated temporary differences based on values in the Accounting and Taxable columns.
Select Show All to show all lines.
The system generates taxable value equal to the accounting value for fields that may have a taxable value. You can override fields by hovering over the value in the field and clicking on the symbol that appears. Select Override.
Select the blue arrow next to a line to see which client accounts in the income statement which are linked to each line as well as the specified taxable value on the relevant lines.
Total temporary differences affecting tax payable summarizes the lines for each column.
In the tab Overview temporary differences, a summary of temporary differences is displayed as of 01.01 and 31.12, and the changes. This overview is shown as part of the note Temporary differencesunder Year-end closing - Annual report.