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Configuring Entities and Jurisdictions in EPM Cloud Tax Reporting

To learn how to configure entities and jurisdictions in EPM Cloud Tax Reporting, review the documentation and videos in this learning path. When you are enrolled in this learning path, your progress will be tracked as you view each resource.

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beginner Beginner
duration 35 Min
modules 13 Modules

Learning Path Contents

Module Sections Topics and more

  • About Entities and Jurisdictions
      duration 3 Min
     
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    • During system setup and implementation, or as your business expands, you will add and configure entities and jurisdictions. Before you begin to configure entities, you must first configure the associated currencies and jurisdictions. Jurisdictions define the principal place of business for each legal entity and categorize the provision for income tax at a national or regional level.

      In this learning path, assume that your business is expanding into India. Assume further that your business in Switzerland is expanding into Zurich. To set up this information in Tax Reporting, you will:

      Configure the information for India:

      • Add India as a national jurisdiction
      • Add the Indian Rupee currency to the Currency dimension
      • Create a legal entity for India
      • View the new entity for India on the Data Status page

      Configure the information for Zurich:

      • Create a parent member (Switzerland) under which we will place the Zurich regional jurisdiction
      • Add Zurich as a regional jurisdiction
      • Refresh the database

      After you configure the information for India and Zurich, you will view valid jurisdiction and entity combinations and view tax automation rules.

    A Word About the Sample Application
    • Tax Reporting offers you the option to create a sample application that provides pre-loaded metadata, data, and related artifacts. By trying and testing this ready-to-use environment, you can explore the capabilities and performance of Tax Reporting, and then use the sample application as a reference to more easily model your own business process using your metadata and data.

      This learning path walks you through configuring entities and jurisdictions using the data in the the sample application. To complete the learning path, you can create the sample application, or you can follow along in your own application.

      Review this topic for information on how to create a sample application.

    • readCreating a Sample Application
  • Review Before Doing
      duration 5 Min
     
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  • Add India as a National Jurisdiction
      duration 3 Min
    National jurisdictions categorize the provision for income tax at a federal or country level.
     
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  • Add the Indian Rupee Currency
      duration 3 Min
    Now that we have configured a national jurisdiction for India, we will add the Indian Rupee currency to the Currency dimension.
     
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  • Create an Entity for India
      duration 3 Min
    Next, we will add a new entity for India. As we add the entity, we will synchronize the Domicile custom attribute to include the India jurisdiction we just added.
     
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  • View the Entity for India on the Data Status Page
      duration 1 Min
    On the Data Status page, you can see the new entity for India and its current Calculation Status of "no data". Once data is loaded or entered for the new entity, the status changes to "impacted".
     
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  • Add Zurich as a Regional Jurisdiction
      duration 3 Min
    Regional jurisdictions can represent a state, province, territory, or other subdivision. For purposes of deductibility, Regional tax amounts can be set up to automatically flow into national calculations. Regional tax provisions can be calculated individually, or in total, by legal entity.
     
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  • Refresh the Database
      duration 3 Min
    When you have finished configuring entities and jurisdictions, refresh the database to incorporate your updates. Refreshing the database generates valid combination rules that restricts data entry to only the respective domicile jurisdictions – both national and regional.
     
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  • View the Valid Jurisdiction and Entity Combinations
      duration 2 Min
    The system automatically creates valid combinations for Entities and Jurisdictions. These rules are not editable. To view the valid jurisdiction and entity combinations:
     
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  • View Tax Automation Rules
      duration 2 Min
    When you add a new entity, global and jurisdictional tax automation rules are applied to the new entity. To view these tax automation rules:
     
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  • Assessment
      duration 5 Min
    Test your knowledge.
     
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  • Additional Tax Reporting Learning Paths
      duration 0 Min
     
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  • Learn More
      duration 0 Min
     
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