Skip to main content

Legal

Tax & Accounting

Trade & Supply

Risk & Fraud

News & Media

Books

Developers

My Datasets

Post Ret-To-Prov

Tax returns for the prior year are typically filed in the current year. Once returns have been filed, a true-up must be booked for the difference between what was accrued in the prior year's provision and the actual amount on tax returns. This true-up must be booked in the current year's provision.
To post the Return-to-Provision calculation:
  1. Select
    My Datasets
     and then
    Calculate
    .
  2. Select
    Post Ret-to-Prov
    .
  3. Choose Dataset (all units), Sub-consolidation or Unit.
  4. Click
    Run
     and the data posts to the units.
  • The RTP posting activates the units/states which are inactive in the related provision dataset (RTP Provision).
  • If a posting is generated for any inactivate units/states, rates are copied from the related return dataset.
  • The State RTP correctly allocates the amount for the return basis provision between the RTP PERM and RTP TEMP components.
  • When using the automatic RTP posting functionality, if one of the datasets (Provision or Return) has a state with an apportionment percentage that does not equal 100% the NC_ postings for perms and temps are separated correctly between NC_PERM and NC_TEMP.

This article applies to:

  • PRODUCT: ONESOURCE Tax Provision