Oracle TRCS configure and implement tax automation? | Tax Automation Rule | Oracle TRCS Tutorial

welcome to BP solution so today uh today's ticket in drcs is uh defining the tax automation rules so first we'll understand what is tax Automation and how you'll be working with this tax automation so tax automation it provides uh the data for core tax calculation it represents the link between the book data and the tax data tax automation process will allow you to calculate permanent and temporary differences directly from the source financial data in the journal Ledger or from the financial consolidation system using tax automation uh the system starts the current provisioning process by copying the net income before tax amount into the net income of the current provision you can create no entity Global rule you can also create entity is enabled for all the entities so um after you load the trial balance data into the application you can run the tax automation process to link the tax sensitive book data to one of these tax accounts like permanent difference accounts temporary difference accounts uh pre-tax income adjustments account additional provisioning accounts using this feature the system prepares current provision process by copying net income before tax amount from the entity's income statement into the net income before tax entry of the current provision the tax automation process it can also be used to automate the amount of net income before the tax ta adjustments that flow to the current provision for example book adjustments and book to enhance the flexibility of the tax automation you can create multiple tax automation rules for each account to which you can apply more than one rule or assign more than one source account or multi-gap Source account there are no restrictions on the number of rules that can be created the additional rules enable you to define the logic to be applied the logic can be uh pull logic move logic squeeze logic you can create rules that use multiple pull or move or squeeze rules within a single rule or Define the multiple rule combinations for more complex requirements that incorporate a flow within a rule such as both pull and squeeze