Transfers
Contents
A Unit Transfer is the transfer of a partial or full balance from one unit to another. To set up the unit transfer use the Transfer Wizard. You can transfer units that have the same Federal Ending Deferred rate and the same Ending Deferred FX rate. You may need to make an adjustment to account for any State rate differences that occur during the unit transfer.
To transfer deferred/payable balances from one unit to another:
1.In Manage Units, for a unit select the More drop-down list.
2.Select Properties for a unit.
3.In the General tab, click Yes to Activate the Transfer Tab.
4.Select the Transfers tab and the Data Transfer Summary page opens.
5.Click Transfer Wizard to open the Transfer Unit Data page.
Transfer Unit Data
In the Transfer Unit Data page, the Source Unit is the unit where you selected More > Properties.
1.Select Properties for a unit and that unit becomes the Source/Target unit.
1.Select the Target Unit from the drop-down list.
2.For Transfer Data:
a.Select All Data at 100%.
b.Select Percentage and then type a percentage.
c.Select Custom to transfer an amount of a particular adjustment.
3.For Transfer Items:
a.Select Temporary to transfer the deferred balances.
b.Select Payable to transfer the payable balances.
c.Select Temporary & Payable to transfer deferred and payable balances.
4.Click Next.
5.For Transfer Unit Data:
a.You can select the following Temporary Diffs Components to Transfer.
i.Click Federal Temp Diffs - Tax Basis.
ii.Click Federal Temp Diffs - Book/Tax Basis.
iii.Click Federal After Tax Temp Diffs - Tax Basis.
iv.Click Federal After Tax Temp Diffs - Book/Tax Basis.
v.Click Federal NOL Temp Diffs - Tax Basis.
b.You can select the following Payable Components to Transfer.
i.Click Federal Payable.
ii.Click State Payable.
6.Click Next.
Transfer Classes -Temporary Differences
1.To set up the Classes to transfer with temporary differences, you will select classes for the Temporary Differences. The Classes are set up in Administration within Manage Options. You can select Classes/Subclasses to review the classes set up for Transfers.
a.Select Transfer Out Current Class.
b.Select Transfer Out Non-Current Class.
c.Select Transfer In Current Class.
d.Select Transfer in Non-Current Class.
2.Type Notes, if desired.
3.Click Yes to Review Transfer Payable.
4.Click Next.
Transfer Classes - Payable
1.To set up the Classes to transfer with payable balances, you will select classes for the Payable Balances. The Classes are set up in Administration within the Manage Options. You can select Classes/Subclasses to review the classes set up for Transfers.
a.Select Transfer Out Class.
b.Select Transfer Out Transaction Type.
c.Select Transfer Out Transaction Bucket.
d.Select Transfer In Class.
e.Select Transfer In Transaction Type.
f.Select Transfer In Transaction Bucket.
2.Type Notes, if desired.
3.Click Yes to Review Transfer Payable data.
4.Click Next.
Review Transfer
1.If you selected Yes to Review Transfer for Temp Diffs and Payable data, the Next pages lets you review the balances for each transfer. If no balances are transferred the Total Selected line will equal zero.
a.Review the Ending Balance.
•Balance from the Source Unit.
b.Review the Transfer Amount.
•Balance to Transfer.
2.Review the Total Selected.
3.Click Next.
4.For the Final Review, click By checking this box, you agree to transfer selected data immediately.
5.Click Save.
Review Data Transfer Summary
The data transfer information appears on the Jobs page.
•Source Unit - the balances transfer from the Source unit.
•Target Unit - the balances transfer to the Target unit.
•Transfer Data - the data selected to transfer. For example, All or Selected will appear depending on selections made during the set up.
•Transfer Items - the items selected to transfer. For example, Temporary or Payable will appear depending on selections made during the set up.
•Date - the date of the transfer.
•User - the user that transferred the data.
Note: In Data Entry, you can review the transferred data in Temp Diffs - Tax Basis as a Balance Sheet Only adjustment.