Including Period End Journals in France FEC
To include period end journal entries in the FEC report, do the following:
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Enable the Period End Journal Entries feature. For more information, see Enabling the Period End Journal Entries Feature.
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On the France subsidiary record, check Enable Period End Journal Entries box.
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Configure the France subsidiary settings.
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Set the FEC reporting preferences.
To configure France subsidiary settings:
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On the France subsidiary record, click Subsidiary Settings on the top-right corner of the page.
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On the Period End Journal Entries subtab, check the Enable Period End Journal Entries box.
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Check the Create Balance Sheet Closing and Opening Journals box:
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In the Balance Sheet Closing Account field, select a Closing Balance Balance Sheet account.
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In the Balance Sheet Opening Account field, select an Opening Balance Balance Sheet account.
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Check the Create Income Summary Journals box.
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In the Income Summary Profit Account field, select the account with number prefix of 12.
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In the Income Summary Loss Account field, select the account with number prefix of 129.
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Click Save.
To set the FEC reporting preferences:
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Go to Setup > Tax Reporting > Tax Reporting Preferences.
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On the Period Filters subtab, set the Reporting Frequency of FEC Data Extract to Annually.
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Go to the Tax Audit Files Filters subtab.
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On the Include Period End Journal Entries column, check any or all three boxes depending on your preference.
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Balance Sheet Closing Entries – If checked, the FEC report includes balance sheet closing journals that posted balances to the Closing Balance Balance Sheet account.
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Balance Sheet Opening Entries – If checked, the FEC report also includes balance sheet sheet opening journals that post to the Opening Balance Balance Sheet account.
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Income Statement Closing Entries – If checked, the FEC report shows income summary journals that are posted to your chosen profit or loss account.
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Click Save.