Tax & Annual accounts
Profit/loss planning
It is important that you have not booked any results in your accounting before you start Tax & Annual accounts. Separate calculations are made there and the results are fed back to the accounting.
In Year-end closing - Calculate tax - Profit/loss planning, you will find alternatives for profit/loss planning via tax allocation reserves.
- Select Maximum contribution, No contribution, Maximum reversal or Own adjustment. Under each alternative, you can see how the taxable profit/loss, the income tax and the recorded profit/loss are affected. Select Own adjustment if you want to enter your own amounts in the fields Reversal of tax allocation reserve and Allocation to tax allocation reserve for the year.
The amount is transferred to field 3.21 or 3.22 on INK2R in Year-end closing - Tax forms.
Automations in the profit/loss planning
- If you have used the built-in appendices for Real estate tax and fees, Special employer's contribution, Tax on return and Preliminary tax and do a Profit/loss planning, the appendices Tax calculation – summary and Summary of the year's tax liabilitiy/claim are created automatically at the same time as the balances on the various sub-accounts for tax liabilities are automatically rebooked to 2510 Tax liabilities.
- At the same time, a closing entry is created that records the profit or loss for the year, taxes and any changes in accruals so that they can be entered in the accounting. The option to create the closing entry is enabled by default but can be turned off by de-selecting the Create closing entry automatically toggle on the appendix Summary of the year's tax liability/claim.
- If you have entered values for booked costs that are not deductible or income that should not be recorded in the taxable profit under Tax calculation - Tax adjustments, the reconciliation appendices Non-deductible recorded costs and/or Non-taxable recorded revenue will be created automatically when a selection is made in the
Error in the tax form check?
In order to create the automatic closing entry, the bookkeeping accounts must be linked to the correct reference account. Normally, these accounts are already mapped correctly, but if there is any problem with the closing entry (for instance when running the tax form check), you should check the mappings to these reference accounts:
- Förändring av periodiseringsfond (2110-2129, plus 8811 and 8819)
- Årets resultat (2099 and 8999)
- Årets skatt (2510 and 8910)
Errors in closing entries?
If something goes wrong when the automatic closing entries for the year's profit, tax and changes in tax allocation reserve are created, you can try to de-select the selected profit planning option. This means that not transferred closing entries are removed and thus reset to zero. Then redo your profit planning selection to re-create the closing entries.
The profit/loss planning reverses the tax allocation reserves that are required to be reversed by law. Forced reversal must be done after six income years.
Any added tax due to change in taxation should not be recorded on account 8910, but on 8920. This is important so that this amount does not affect the current year's tax calculation.
Once added, an extra line will appear in the profit/loss planning for Adjusted tax.
The amount on this row affects both 3.25 and 4.3c of the INK2 tax form.
Overtaking of tax allocation reserve during the financial year
To calculate how much of the tax allocation reserves can be reversed at the end of the tax year, use the opening balances of the accounts in question. If the company has recorded tax allocation reserves received during the financial year, you go to Profit/loss planning - Tax allocation reserve and tick the box The company has bookkept and overtaken tax allocation reserves during the tax year. By doing so, the tax allocation reserves received are also included in the total amount that can be reversed.
Please note that the six reversible tax allocation reserve accounts linked to each accounting account are used.
