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prash4030's avatar
prash4030
New Contributor III
5 months ago

stored calculation question

hi

we are using stored calc to apply tax rate on pre tax income and eventually calculating net income. Tax rate is pretty static throughout the year but it may change in middle of the year. we've given users to enter tax rate as applicable throughout the year so this tax computation remains dynamic. Actuals scenario is YTD. 

the issue we're facing is if we change the % (lets say 20% up until Jan to May and starting April, it goes up to 25%). In other words, we want April YTD tax to be 25%, it is not footing to 25% at lower level. any ideas how to achieve this?

 

  • Henning's avatar
    Henning
    Valued Contributor II
    5 months ago

    Hi, the easy solution is to just enter the new tax rate into April and adjust the rule so that it takes the tax rate for each month individually. That way, 20% will be applied to January - March and 25% from April onwards. There are other ways, but those require more effort in my view.

  • prash4030's avatar
    prash4030
    New Contributor III
    5 months ago
    thank you so much for your reply.
     
    we apply each month tax rate individually. pls see below. for Jan to Mar, it picks 20% tax from a form and then i'm entering 25% for the month of April. it makes 25% periodic but not the effective YTD of April as 25%. and if i change the below rule to compute YTD just for month of April as 25%, it works for local currency entities but USD conversion is slightly off. it is not exact 25%. it comes out to be 25.xx %. cant figure out why
     
     
    If ((Not api.Entity.HasChildren()) And api.Cons.IsLocalCurrencyForEntity) Then
    'api.Data.ClearCalculatedData(True,True,True,"A#[Calc Tax Exp (M)]")
    If monthNo = 1 Then
    api.Data.Calculate("A#[Calc Tax Exp (M)]:F#None:I#None:U4#None:U6#None:U7#None:U8#None = " & _
    "A#[Pre Tax Income (M)]:F#Top:I#Top:U4#Top:U6#None:U7#None:U8#Top * " & (taxRate/100))
     
     
    Else 
    api.Data.Calculate("A#[Calc Tax Exp (M)]:F#None:I#None:U4#None:U6#None:U7#None:U8#None = " & _
    "(A#[Pre Tax Income (M)]:V#Periodic:F#Top:I#Top:U4#Top:U6#None:U7#None:U8#Top * " & (taxRate/100) & ") + " & _
    "A#[Calc Tax Exp (M)]:V#YTD:F#Top:I#Top:U4#Top:U6#None:U7#None:U8#Top:T#POVPrior1")
     
    End If
    • Henning's avatar
      Henning
      Valued Contributor II
      5 months ago

      Yes, your data will not change in January to March if you follow this. You just need to change your parameter "taxRate" to pull the data from each month, enter the new 25% tax rate in April and all data will remain as needed (as the formula will pull the 20% for calculating January to March, still).

      The OneStream Remote Consulting team may be able to help with this too if needed (billable service).

      • prash4030's avatar
        prash4030
        New Contributor III
        5 months ago

        ok. i am changing taxrate parameter for each month. and the tax calculation at entity level in local currency is as expected. 20% till march and 25% YTD in April. but converted USD is slightly off..25.xx%. we've 50+ entities. and where entity currency is USD, USD Tax is 25%. it is just for entities where entity currency is non usd.