October 25, 2024

New features

Added True-Up columns to the following Data Entry screens:
Temp Diffs -Tax Basis
Temp Diffs - Book/Tax Basis
AT Temp Diffs - Tax Basis
AT Temp Diffs - Book/Tax Basis
After App Temp Diffs - Tax Basis
Tax Adjustments
Tax Loss Temp Diffs - Tax Basis (renamed)
Added new True-Up sections to:
Tax Provision (included GAAP-STAT and comparisons)
State Tax Provision (including breakouts in Provision Summary)
Effective Tax Rate (including CSC Breakout and comparisons)
Modifications to the following reports to include True-Up values:
Unit Breakout: Expanded(i/s)
Deferred Balance
Tax Loss Balances (renamed)
State Deferred Balance (summary and individual)
Tax Loss Expiration (renamed)
Tax Basis Balance Sheet (Details: Expanded)
Tax Basis Income Statement (Details: Expanded)
Additional remaining reports to change in subsequent release:
Foreign/Domestic Summary (View: Prior Year Breakout)
Deferred Book/Tax Detail (PY Adj. columns)
Deferred Balances, Unit Breakout: Expanded (FERC)
Temp Diff Discrepancy
IFRS Proof of Tax
IFRS Summary
Tax Account Summary
All Legacy Reports
Added new System Class Type for True-Ups:
True-Up Book Income
True-Up Taxable Income
These can't be deleted, but additional classes can be added
Subclasses are automatically assigned from the year of the source and comparison dataset combined with the dataset name (i.e. YYYY_DatasetName) when different entries are required.

New True-Up columns have been added into Workpapers and APIs.
For Workpapers Range functionality, please be aware that new columns have been added, and so existing mappings need to be validated.
Developer Portal Import and Export APIs are modified to include the new columns in the response headers and in the JSON response.

Go to
Administration
>
System
>
Manage Configurations
>
RTP True-Up
and select
Yes
for
Advanced True-Up posting
. New Book and Tax default options for True-Up posting can be modified here. (Populated from True-Up system class type). They can also be the same. System Parameters correspond to these settings in Manage Restricted Features as
POST_EATP
(Enable Advanced Tru-Up Posting),
POST_BOOKTU
(BOOK) and
POST_TAXTU
(TAX). These options correspond to the new radio button, Book and Tax options, respectively. The parameters can be imported in categories import on the
#CP#
tab.
Go to
Administration
>
Manage Datasets
>
Datasets
>
Select Source Dataset
>
Edit
>
Dataset Relations
then
Select Tax Adjustment
dropdown. This Tax Adjustment code and description will be used as the Code-Description column for Tax Adjustment rows that will receive the posting in the True-Up column.
When Dataset Relations are correctly set-up, the Post Return-to-Provision button will change to Post True-Up. Book and Tax sections of the Temp Diffs and AT Temp Diffs will be posted separately.
Global Access will also support Post True-Up functionality if it is correctly configured in Dataset Relations.

Total Current State Tax Provision
State Return Basis Provision
State Return Basis Provision + True-ups
Total Current State Tax Provision – True-ups

The advanced true-up posting won’t post balance sheet only and deferred only differences between source and comparison datasets even if the system parameters are enabled.
Combine functionality for new Datasets won’t combine for True-Up values.
When using state posting, the apportionment rate and inclusion percentage used will be from the target dataset and won’t incorporate source or comparison rate/percentages into the true-up entry in a federal or state temporary difference that is included in the state reports.

Enhancements

Previously multiple logs were shown when multiple Bridge profiles were selected. Now only one log entry is provided with a count of profiles selected.
Users can now view missing Bridge assignments only for units that are not covered in any file or profile during the bridge import process.
Temp Diff is now aggregated by either Book or Tax values, but not by both Book and Tax values. Also the sorting of columns is working as expected.
Tax related data is no longer visible under the Bridge Mapping tab for Perm/Temp Diff Book & Tax. The same is shown under the Missing Assignment tab when the user is performing Bridge Import after selecting All Components.
The Differentiation of Book and Tax is now shown in the Missing Bridge Assignment tab of the Preview page and in the exported file.

Calculation is now behaving as expected when the mandatory Jurisdiction field is blank.
The Activity Column will no longer be editable in
Workpapers
when
Post to Ending Balance
is selected.

Bridge mapping factors now recognize the decimal amounts without a leading zero, for example 0.5 and .5 both are considered valid.
Creating a profile with the same name under the Manage Bridge Mapping tab is restricted.

Approve Journal Entry Button:
Appears on the Output JE - Export Detail report under specific conditions.
Restrictions:
Can only be implemented with the default Tax Provision Instance, SAP enabled in OTP, and the appropriate user role.
Button Behavior:
Visible and enabled for pending approvals; disabled for already approved entries.
Usage:
Users can generate reports via Reports > Output JE - Unit to approve pending entries, which are greyed out after approval.
Error Handling:
An error message prevents status saving if the OneSource code fails.

Resolved issues

Fixed Bridge Import process for Read Write Users where Data Entry dropdown was not showing correctly.

GAM Questionnaire Responses Not Visible After Import/Copy -
When responses from the GAM questionnaire were imported or copied during new dataset creation, they didn’t appear in the UI, leading to user confusion. This issue has now been resolved, and responses will correctly display in the UI after import or copy.

Subclass Field Cleared After Dataset Toggle -
When creating a SET formula in Workpapers, toggling the dataset field after selecting a Subclass was clearing the Subclass field, leaving it empty with no options available to select. A fix has been made letting Subclass field to display values after the dataset has been changed.
Deleting Saved Reports in GAM:
Users were unable to delete Saved Reports under My Reports in GAM, even though this functionality works in OTP, causing confusion. This issue is now fixed, letting users to delete Saved Reports without any issue.

Known issues

On Deferred Balances reports with Unit and Column Breakouts
The balance sheet amount and total balance sheet adj amount don’t match.
The generated report shows different column names on an additive dataset.
The Total amount column contains no values.
On Deferred Balances reports with a Column Breakout, the shared reports from the repository doesn’t generate an outcome with the saved Column Breakout.
FX rate fields accept blank or zero values, causing calculation errors. This may impact payable entry calculations, resulting in inaccurate financial data.