Periods

Standard period

In the GTC master data, transaction data and changes in accounting logic depend on the selected period (e.g. annual or interim financial statements, planning periods). Data is created in a certain period to a certain due date.
In case of changes, such as amendment of law, all (previous) periods remain unchanged. Deleted periods are not deleted physically, they are moved to archived, so that the user can have access to old calculations at any time.
The so-called standard period (---) is the very first period created in the GTC; it can only be used to manage master data. When working in the GTC for the first time it is recommended to create master data in the standard period. After that you can create further periods and use the standard period as a template for master data.
Basically, it is up to every GTC user whether to keep the standard period always up to date in relation to master data. For some GTC modules (e.g. Compliance) it is necessary to maintain the standard period.

Create and manage periods

step-by-step creation of a period can be performed by clicking the Create-button.

Create and manage periods

Periods should be created centrally by a group. It is recommended to maintain a unified nomenclature (e.g. IFRS closing 2014-12-31).
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To create periods as an expert you can use the Create (Expert)-button.
In order to create a new period you need to define the following attributes. Info boxes contain the necessary information.

ID
ID is a number automatically assigned by the GTC to identify the period.

Name
Period name should be assigned according to a unified nomenclature for financial statements and reporting dates. The entry is limited to 255 symbols.

End of period
It is the due date for the selected period (format YYYY-MM-DD; e.g. 2014-12-31).

Tax form
Use the Tax form position to select a suitable tax form for the selected assessment period. Select before 2015 for assessment periods before 2015 and the corresponding year for the periods after 2015 (assessment period 2015: tax form 2015).

Prior period
The prior period can be changed after period creation. This attribute is especially relevant because the GTC calculates the movement of deferred taxes (P/L statement effect) based on this entry. When working in the GTC for the first time select (---) as prior period.

Related period
Specify related period in the new version of a period. Usually an annual financial statement does not have a related period, while a tax return period has annual financial statement as a related period.
Enter this information if a so-called true up has to be made for an already existing period, otherwise select (---).

Type of period
There are two basic types of periods: closing and planning. Planning periods have a different dialogue structure due to their different objectives. They are aimed at determining a future tax quote.
On the other hand, closing periods are relevant for calculation of deferred and current taxes. The GTC offers four possible closing variants that cannot be changed anymore once the period is created:

• Closing v3: tax calculation with German form dialogues, 2-step approach for balance sheet comparison, more automated TRR.
• Closing v2: tax calculation without German form dialogues
• Closing v1: tax calculation with German form dialogues
• Planning

Type of period first of all determines the number of dialogues for calculation of current taxes. Only the types of period closing v3 and v1 (with form dialogues) contain tax detail dialogues (KSt 1A (corporate income tax), Anlage WA etc.). The period type closing v2 (without form dialogues) contains only the dialogue Current taxes. Types of period are not relevant for the calculation of deferred taxes.
When using the GTC to prepare an electronic tax return, it is necessary to select the Closing v3 type.
The Planning type of period contains shortened dialogues for P/L statement-based calculation of current and deferred taxes.
Master data / Tax calculation copy based on
When creating a new period you can use an existing period as a template. After selecting the period to be copied you can also choose whether to copy transaction data of the selected period. In addition, if required you can copy milestone status.

Basically, when creating a closing period, the system uses master data from an already existing period. Any changes of tax rates have to be regarded when creating a new period.
IMPORTANT
The Anlage FE-K 4, which is available for companies, is not included in the transaction data copy.
When creating a true-up period it is recommended to use the Pre-fill new true-up period function; it fills out the essential fields of the new period and selects options from the period to be copied.
Questionnaire Copy based on
When using the GTC Questionnaire mode you can copy transaction and/or master data of an existing period to a new period. Every user defines which data sets should be regarded as transaction or master data when creating a questionnaire.

GTC version control / active patches
Generally, these two data sets should not be edited by the user when creating a new period, since they display technical information. These values provide important information on existing GTC configurations of the selected period.
If over time it comes, for example, to a change of tax law, these changes will be saved to a new calculation base. The same applies if new features are added in the GTC or calculation procedure and automated calculations changed.
While old periods are calculated using valid (old) calculation bases (according to current law), the latest calculation base is used for newly created periods. Newly created periods are therefore always (automatically) created using the most recent calculation base.
An exception are periods that contain not only master data but also transaction data of an existing period (copy based on). In this case calculation base of the copied period is copied too (NOT the most recent calculation base). In this case calculation base can be changed by the user.
For example, if you create a new period Closing 2014-12-31 and copy master data and transaction data from the previous period Closing 2013-12-31, the relevant calculation base (as of 2013-12-31) is copied too. If the most recent calculation base should be used, the user has to change this setting after creating the new period:

In the appeared dropdown select the period that has the necessary calculation base. The corresponding calculation base of a period can be found in the overview dialogue Periods in the CB column. The higher the value, the newer (more current) is the CB.
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Tax calculation method
Tax calculation method is relevant for calculation of current taxes. You can select either Annual report(Net) or Tax return (Gross) option (based on section 12 of the KStG (Corporation Tax Code); while acc. to section 8 of the KStG (Corporation Tax Code) selection cannot be made for members (=gross). To this extent this attribute is relevant only for German companies.
The gross method is used for tax return. Data acc. to section 8 of the KStG (Corporation Tax Code) is considered on the parent company level. That is why it is necessary to create a separate period for tax returns. If the checkbox Rounding = tax return logic is activated, all values in the current taxes dialogues will be rounded according to the tax return logic.
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Net method is used for annual balance sheet. Data acc. to section 8 of the KStG (Corporation Tax Code) is considered on the member level.

Accounting standards ( Unable to render embedded object: File (worddav75885e27e924d844222af95456b48ec1.png) not found. )
Here you can choose between IFRS and Commercial Law when creating a new period. The selection is relevant for the B/S comparison dialogue. IFRS period contain three balance sheet columns (IFRS-balance, Local balance, local tax balance sheet), while Commercial Law contains only local balance and local tax balance sheet. This difference affects the Summary dialogue.

Automation current taxes
If this checkbox is activated, current taxes detail dialogues (KSt 1A, Anlage A etc.) are automatically synchronized with the Current Taxes dialogue and proposed values are adopted automatically. This setting is only available if you select Closing v3 as the type of period and select the before 2015 tax form.
If the tax form 2015 is selected, current taxes are synchronised automatically, no additional settings are required.

Tax calculation / Questionnaire / KapESTA deactivated
In an already created period you can deactivate/lock the GTC main dialogues Company (=tax calculation) and Questionnaire. Questionnaire is the additional module NOT included into the GTC standard.

Tax calculation / Questionnaire period locked
In a previously created period there is a possibility to close or lock the GTC main dialogues Company (=Tax calculation) and Questionnaire. After locking, the corresponding dialogues cannot be edited anymore; users have only reading permissions. Locked periods are marked correspondingly in the overview of the master data dialogue Periods. In addition, the GTC displays a corresponding notification in the individual dialogues of a period.

Locking periods makes sense after all calculations have been made. To perform this action the corresponding rights are required.

Sample configuration

Annual statement 2019

Table 8: Period example "Tax return"

Export and import of periods

In the Periods dialogue the users have the possibility to export and import transaction data.

Select the period to be exported from the Periods dropdown menu. During the period export you have the option to export the period with the compliance data, by activating the checkbox with compliance data. Under the serialization in GPX file, the database tables that are exported are listed.
The exported database tables are listed under the Serialize to GPX-file header.

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Comments are also exported during the period export. The export of the compliance data can also be selected via the checkbox with compliance data.
During the period import, the period to which the transaction data is to be imported is selected via the Applies to period dropdown. Use the button Durchsuchen to select the GPX file to be imported and import it with a click on the Import button.

After the successful import of the file, the corresponding message with a green checkmark appears and the object is be displayed. To save the data, click on the Save button.