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Dataset Relations and True-Up posting

Dataset Relations lets you automatically update the tax provision through the calculation and posting of true-ups. For the system to post true-up adjustments, you need to relate a dataset with Source data (the filed tax return data) to the same or previous period dataset with Comparison data (final provision data), and a same or future period Target dataset (current year tax provision).
In the Source (PROV) dataset, you set up the relationship between the
True-up Source
,
True-up Comparison
, and
True-up Target
 within the
Dataset Relations
 tab.
True-up Source
: A PROV type dataset with the activity data you want your deferred and payable balances trued up to. Examples could include final filed tax returns, as amended tax returns, and as audited adjustments.
True-up Comparison
: A PROV type dataset with the activity data that has been rolled forward to your target dataset that created your existing deferred and payable balances.
True-up Target
: A PROV type dataset with the current period's tax provision data.
To post True-up adjustments, you need to relate the Source dataset (filed tax return) to:
  1. The same or previous period dataset with Comparison data (final provision).
  2. The same or future period Target dataset (current year tax provision).
The system posts True-ups to the current year target dataset using 2 different procedures depending on system parameters enabled.
  1. RTP Posting (default): Non-Cash Tax Adjustments (for the current) and Deferred Only adjustments (for the Deferred). Through the use of parameters, the system also lets you post multiple RTP adjustments to a single RTP Target dataset.
  2. Advanced True-Up Posting: Tax Adjustment of your choosing in Dataset Relations for rate impacting items. Temporary difference variances preserve their current and deferred nature by posting to the True-up column in the data entry screens. The subclass will begin with the 4-digit year of the source dataset and the tax rates used against activity from the source and comparison datasets will automatically be applied to the postings.

This article applies to:

  • PRODUCT: ONESOURCE Tax Provision Classic