CFP Data processing - Tax balance payment

Through this data process, the system carried out payment of the tax balance of both “notional” taxes and “entity” taxes.

Entities which have been associated with a fiscal policy in the entity list and for which the “Direct taxes payment type” has been defined in the execution plan as “Calculate balance only”, “Calculate Down payment on actual and balance” or “Calculate Down payment on budget and amount”.

The system creates the following events:

• for the tax balance:
• event “$GBL” - Accounting, with the following characteristics
• account equal to the “Tax fund: debit amount payment variation account” account specified in the tax rules (tax definition)
• custom dimensions equal to the elements of the default custom dimensions specified for the entity
• currency equal to the entity currency
• entry date equal to the balance payment date indicated in the tax rules (tax definition)
• reference account for cash flow calculation equal to the “P&L taxes: credit” account specified in the tax rules (tax definition)
• currency amount equal to the sum of the tax account balance and the down payments account balance for the previous year, reversed in sign
• origin equal to CFP_TAXES_PAYMENT - CFP - Taxes – Payment
• event “$GBP” - Accounting, with the following characteristics
• account equal to the “bank account: credit variation” specified in the tax rules (tax definition)
• custom dimensions equal to the elements of the default custom dimensions specified for the entity
• currency equal to the entity currency
• entry date equal to the balance payment date indicated in the tax rules (tax definition)
• reference account for cash flow calculation equal to the “P&L taxes: credit” account specified in the tax rules (tax definition)
• currency amount equal to the sum of the tax account balance and the down payments account balance for the previous year
• origin equal to CFP_TAXES_PAYMENT - CFP - Taxes – Payment
• for the closing of the down payments account if the “Down payment write off method” is set as “Balance payment”:
• event “$GBL” - Accounting, with the following characteristics
• account equal to the “Down payment: end-of-year write off variation account” specified in the tax rules (tax definition)
• custom dimensions equal to the elements of the default custom dimensions specified for the entity
• currency equal to the entity currency
• entry date equal to the balance payment for the year
• reference account for cash flow calculation equal to the “Down payment: end-of-year write off variation account” specified in the tax rules (tax definition)
• currency amount equal to the value of the down payments account at the end of the year, reversed in sign
• origin equal to CFP_TAXES_DOWN_PAYMENT_DEBT - CFP - Taxes - Debit Down payment
• event “$GBL” - Accounting, with the following characteristics
• account equal to the “Tax Fund: Variation account” specified in the tax rules (tax definition)
• custom dimensions equal to the elements of the default custom dimensions specified for the entity
• currency equal to the entity currency
• entry date equal to the balance payment for the year
• reference account for cash flow calculation equal to the “Down payment: end-of-year write off variation account” specified in the tax rules (tax definition)
• currency amount equal to the value of the down payments account at the end of the year
• origin equal to CFP_TAXES_DOWN_PAYMENT_DEBT - CFP - Taxes - Debit Down payment
• the value to be paid is calculated by reading the balance of the tax account and the balance of the down payments account for the previous year / period “12”; for the first year that value is taken from the table of balances, and for subsequent years it is taken from the table of entries
• the payment is made if the balance of the value payable is negative
• if “Holiday” has been indicated on the fiscal policy, it is not possible to create events on dates defined as public holidays: the process moves the balance date to the date indicated as the “Operation date”.