There are two Interim Approaches available when creating Interim Datasets. Selecting the dataset designation approach enables the application to advance from Period Type to Period Type and maintain an Isolated Basis approach or build a YTD Basis (Year to Date) approach.

 

Isolated Basis

Selecting the Isolated Basis approach, creates a copy of the previous quarter and rolls over the data to the next quarter. The Isolated Basis takes the ending balances in the current dataset and populates the beginning balances of the next period Actual dataset.

 

YTD Basis

Selecting the YTD Basis approach, creates a copy of the previous quarter and advances the data to the next quarter. The YTD Basis time period is a continuum. When the current dataset is advanced to the next period, (instead of seeing an isolated subset of data) YTD Basis will be built of the Actual data.

 

Period Type

You can set up the Period Type for Quarters, Months or open ended Periods without putting a time constraint on it.

Isolated Basis Dataset, Period Type Months

Select Advance to M2 for Month 2 and all ending balances in Month 1 Actual become the beginning balances for Month 2 Actual.

 

YTD (Year to Date) Dataset, Quarters

You can select Advance to Q2 for Quarter 2 and beginning balances do not change and remain consistent from Quarter to Quarter.

 

# of Periods

You can select anywhere from 1 to 15 periods to associate with the Period Type. There is no limitation, you can choose any number of periods for a Period Type.

In an existing interim dataset, the name, interim rate basis, group rate, and read-only status can be modified.

The data for all quarters worth of forecasted and actual data in the interim dataset can be exported and imported into this area. You can access the Import and Export buttons at the bottom of the screen. Interim data utilizes this import and export functionality. You will not use the export/import categories spreadsheet.

 

Important: When deleting an interim dataset be aware that the data cannot be restored. Consider exporting the interim dataset data before deleting the dataset in case the data needs to be restored to another dataset.

 

Dataset Name

•The name of the dataset is user-defined and can be any combination of alpha and numeric characters, including spaces, up to 60 characters. The dataset name can be edited after it is created.

•The dataset name displays in the My Datasets and the header of reports.

 

Interim Rate Basis

•The interim rate basis is determined on a dataset basis and dictates how the forecasted tax rate is applied to the actual Pre-Tax Book Income. Overall basis applies a blended forecasted rate to all units while the Unit-by-Unit basis applies each unit's forecasted rate.

•When the unit-by-unit basis is selected, you must designate a true-up unit where the rounding should be posted.

•When you select a true-up unit (e.g., D1000), it cannot be designated as an excluded unit in the Unit-by-Unit basis. If you switch to the Overall basis, D1000 can be designated as an excluded unit.

 

Read-Only

•When the data entry process is complete, the data can be secured by marking the datasets as Read-Only.

•The data and reports in Read-Only datasets can be reviewed, but the entry screens have the warning No Edit Allowed and a gray font.

 

Fiscal Year

A Fiscal Year must be assigned to an interim dataset when it is created.

 

Group Tax Rate

The rate entered is used in the effective tax rate report as the statutory rate to which the provision reconciles.

 

ID

A system-generated ID is assigned to the dataset. This field is not used in the creation of an interim dataset and is not editable.