Review an Income Tax calculation

Modified on Wed, 01 May 2024 at 04:03 PM

This page acts as a brief guide to the review process for an income tax calculation. It is suitable for high level users, such as a partner.

1. Review the Accounts

Review the trial balance accounts in general and pay close attention to the accounts that have a workpaper, note, file or query. See Review accounts.

If you find something of interest in an account, you can review the activity (audit trail) of that account to identify the users that were involved. See View account activity

2. Review the Central Queries

Review, address and close any queries that were posted against an entity (not linked to a specific account). See Manage queries.

3. Confirm All Accounts Have Been Signed Off

Check that the accounts have all been signed off. If one or more accounts have not been signed off, follow this up to identify why, and get them signed off.

If you are responsible for signing off the accounts, ensure you have thoroughly reviewed the accounts first, then sign them off. See Sign off an account.

4. Review the Income Tax Calculation

Review and analyse the income tax calculation. You can analysis the calculation by version – compare prior versions of the income tax return with the live data. You can also analyse the calculation by year – compare the income tax returns of prior years with the live data. See Income tax position for NZ and for AU.

5. Ensure the Calculation Passed the System’s Sense Checks

Review the system’s sense checks and resolve any items that failed.

The system carries out sense checks in the Tax Account Movements report and the Income tax return.

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