Come and explore the latest features and improvements of our Tax Balance module!
The versions of all solutions that you are currently using and those of the CFO Solution Platform are displayed when you select About Lucanet from the Help section in the CFO Solution Platform.
The Trust Model wizard is now available under Functions in the Tax Balance Sheet. Using this wizard, you can create or update tax adjustments based on the tax balance sheet data of a trust company. During the wizard configuration, you can select the trust company's tax balance sheet and target adjustment level, and choose the relevant Balance Sheet and Income Statement items. The wizard creates or updates the corresponding tax adjustments.
Three new reports are now available in the Reports workspace at individual company level:
Special Balance Sheets Report— displays all special balance sheet issues per partner, including current and prior year values based on the tax balance sheet structure.
Supplementary Balance Sheets Report — provides the same structure as the Special Balance Sheets report for supplementary balance sheets.
Statement of Changes in Fixed Assets Report— displays the value development of all fixed asset items in a tree structure. The report covers four value groups: Acquisition and Production Costs, Accumulated Depreciation, Write-ups, and Carrying Amounts. For each fixed asset item, both commercial balance sheet values and tax reconciliation values are included.
When generating reports, you can now select for all reports which adjustment levels are included. A dialog appears before the report is created, allowing you to choose the underlying adjustment levels.
In the Development of Proprietary Differences by Tax Adjustments report, tax adjustments are now displayed in the same order as they appear in the balance tree. Where multiple adjustments share the same item, they are sorted alphabetically by name.
A new Item properties filter is now available in the Statement of Fixed Assets view under Company | GAAP. When enabled, taxonomy-based properties such as Mandatory sum-field, Necessary for calculation, if available, and Mandatory field are displayed in brackets next to each item name, making it easier to identify which items require values for tax authority reporting.
For customers who migrated from SmartTaxBalance to Tax Balance on the CFO Solution Platform, and who still have existing Excel adjustments, it is now possible to convert these to standard adjustments. The Migrate to standard form option is available in the More actions menu of an Excel adjustment. When confirmed, the Excel file is moved to the document section of the adjustment, and the adjustment type changes to standard. This action is irreversible and also applies to reorganization Excel adjustments. The migration is available even when the tax balance sheet or adjustment level is closed, as no values are changed in the process.
A new Switch accounts filter is now available in the mapping view. When active, only accounts with at least one constraint are displayed, allowing you to focus specifically on switch accounts — especially helpful with large account structures.
It is now possible to roll forward header data of reporting entity adjustments from another tax balance sheet — typically the previous year. The following fields can be transferred: Balance sheet and P&L items, GTC target item number, internal explanations, and tax group. The roll forward can be executed for a single adjustment or for multiple adjustments at once.
The export that can be created in Tax Balance for importing data into Income Taxes now includes, in addition to the list of balance sheet items, four calculated special items for tax groups: