Tax Reporting

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    Tarun Gulati
    Fixed Asset Data from Fusion ERP
    Topic posted October 29, 2018 by Tarun GulatiBronze Medal: 1,250+ Points, tagged Consolidation, Data Integration, Tax Provision 
    109 Views, 1 Comment
    Fixed Asset Data from Fusion ERP
    Integration of Fixed Asset data for Tax & Book depreciation into TRCS

    In Fusion ERP there is a separate module for maintaining Fixed Assets data. Depreciation as per Corporate books is computed within that module and data as per Tax rules is also computed within that module. TRCS presently allows integration of data at General Ledger and Fixed asset data is not available there. How do we pull data for books and tax depreciation in order to complete the Tax computation.




    • Kenneth Kramer

      Fixed asset data can be loaded to TRCS and used in the calculation.  You can add a supplemental account to TRCS or Supplemental Data.  The data can be loaded using Data Management or Supplemental Data.  Once loaded the data can be automated using tax automation or mapped from Supplemental Data.  TRCS will support both a balance sheet approach (i.e. book v. tax basis analysis) or a P&L approach where book depreciation is added back and tax depreciation is deducted.