Corporate Book Vs Tax Books .. FA ?

[Anjireddy.r12]

Hi,

I have the doubt regarding Corp and Tax book depreciation, i find Corporate book depreciation only create the journals into General ledger.. <b>this mean , the corporate depreciation only hit the B/S and P&L A/c's</b>.

Is Tax book depreciation create the Journals in GL or we can view only the depreciation of tax book and prepare Deffer ed tax in GL.

Please share the your valuable Suggestions,


Thanks & Regards
Anjireddy

[shaikjohnpasha]

Hi Anjireddy,

Only Corporate books entries are transfered to GL and Tax book entries are only for Tax authorities.

Hope I have clarified your query!!