Record Other Basis Adjustments
The other basis adjustment is a special type of adjustment that can be incorporated into balances. As an example, you can use it to post cash basis entries and then switch the balances from accrual basis to cash basis in reports.
The other basis adjustments can be included in your tax export and you can link the other basis data to cells in CaseView documents.
Procedures
- Record the other basis adjustment by Creating an adjusting journal entry with Other basis selected under Type.
- View adjustments if needed by drilling down (double-clicking) on the account in the Adjustment column of the Working Trial Balance.
- Report the adjustments using any of the following automatic documents. Note the selections you need to make to show the other basis adjustments for each document.
Analytical review
(excluding Ratio analysis format)
Select the Include Other Basis Adjustments check box to display the other basis adjustment columns.
When you no longer wish to see the other basis adjustments, clear the check box.
Leadsheet/Grouping Select the Include Other Basis Adjustments check box to display the other basis adjustment columns.
When you no longer wish to see the other basis adjustments in the report, clear the check box.
Tax reconciliation Select the Include Other Basis Adjustments check box to display the other basis adjustment columns.
When you no longer wish to see the other basis adjustments in the report, clear the check box.
Trial balance Select the Include Other Basis Adjustments check box to display the other basis adjustment columns.
When you no longer wish to see the other basis adjustments in the report, clear the check box.
Journals - Adjusting journal entries. Select either the Other basis or All entries format for the document type. -
To link other basis adjustment data to cells in CaseView use the following codes:
OBA
Includes other basis adjustments in any balance. OB
Returns the other basis adjustment only. -
If needed, the other basis adjustments can be exported to a tax software by selecting the Include other Basis Adjustments check box in the Export to Tax Software dialog.
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To roll the other basis adjustments into the new year’s file, select the Update prior year balance data check box. All current year balances including the other basis adjustments become the prior year balances in the new year's file.
View the other basis adjustments by drilling down on the prior year column and then on the PY Adjustments column in the new year’s file.
