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Topic

    Paul Ericson
    Regional Deduction
    Topic posted February 26, 2019 by Paul Ericson, tagged Current Tax, Tax Provision 
    149 Views, 4 Comments
    Title:
    Regional Deduction
    Summary:
    Unable to get Regional Deduction to flow to Current National Provision.
    Content:

    The client opted to employ the “standard” TRCS methodology to treat the Regional Tax Expense as deductible on the National provision in the current period. We’ve enabled the “RDeduct” attribute in all US base entities to allow for the above but we are unable to see any regional tax expense flow to the national current provision (expected on the Regional Income taxes line). The TRCS Admin guide references the “RDeduct” field but doesn’t offer much more in terms of guidance. We have enabled RDeduct as a member attribute in the Entity dimension. 

    Do you have insight into any other areas of the application we should check for troubleshooting to resolve the regional deduction issue?

    Comment

     

    • Tarun Gulati

      Hi,

      'Tax provisional Regional' card from the home-page provides for calculation of the current tax expense for the Regional provision.

      In 'Jurisdiction' dimension, under 'TRCS_AllRegional' add child member for each jurisdiction you wish to configure.

      In 'Entity' dimension drop-down, expand 'FCCS_TotalGeography', for the required entity, go to the 'Attribute' add the 'Regional deduction' & 'Domicile' attribute

      Post this, 'Refresh Database'

      Check Application -> Valid Intersections -> Jurisdiction and Entity. The intersection should be there.

      • Paul Ericson

        Hi Tarun, Thank you for the reply.  Following along with the instructions above it appears I have configured the Entity and Jurisdiction as defined in your message.  It seems I am missing something else as the Regional deduction is still not flowing to current national provision.  Do you have any ideas as to what I could be missing?

         

         

        • Siva Gandla

          Hi Paul,

          Could you confirm if you have regions created with following naming convention, regions parent member should be named starting with Domicile and ending with "_Regions", each state member should start with Domicile and followed by state name.

          Ex: Assuming US is the domicile (National Jurisdiction)

          TRCS_AllRegional

           |___ US_Regions

                    |__US_Blended

                    |__ US_AL

                    |__ US_NYC

          If still have trouble, please submit feedback with application snapshot.

          Thanks,

          Siva G.

           

    • Michel Schoolenaar

      Hi Paul and thanks Tarun for providing valuable insight. 

       

      Here are some sections in our administrator guide and user guide.

      From the admin guide, please have a look here: Creating a Regional Jurisdiction

      From the user guide, this section might be of interest as well: 9 Regional Tax Process

       

      Thanks,

       

      Michel