Adjusting provision for taxation

The tax calculation is designed to only post tax expense values where there are months of profit. This means that where a month is in a breakeven position, or a loss position, that Spotlight will not post any tax values.

To adjust the system calculated provision for taxation (Income Tax or Corporation Tax) within Spotlight Forecasting, you can use a Balance Sheet rule.

  1. Within the forecast, open the Balance Sheet tab.
  2. Open the Current Liabilities section, then locate your Provision for Taxation account.
  3. Click Add Rule, then enter a name for the rule.
  4. From the Rule Type drop-down list, choose Balance Sheet.
  5. From the Select Account to Apply Rule To drop-down list, choose your Provision for Taxation account.
  6. From the Journal To drop-down list, choose the Profit & Loss Tax account.
  7. Click Next, then enter the required monthly figures for the adjustment journal.
  8. Click Next, then click Save Rule. 

The adjusted provision for taxation values now appear in your Balance Sheet and Profit & Loss. 

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