OTP to OCT integration application guide

Set up Tax Provision calculations for Corporate Tax returns

Follow these steps to use calculations prepared in ONESOURCE Tax Provisions (OTP) to produce tax returns in ONESOURCE Corporate Tax (OCT).
  1. Set up the business structure and calculations in OCT.
  2. Update the Chart of Accounts (CoA) and mapping for any new General Ledger (GL) accounts.
  3. Export the OTP to OCT Integration report from OTP.
  4. Import the report into OCT for member entities:
    1. Review {P1} - {P5} OTP Audit Trails workpapers.
    2. Complete {A25} Foreign income tax offset workpaper, {A26} Franking and exempting account, and {A27} R&D Tax Incentive workpapers.
    3. Review {A20} Tax Calculation for correctness.
  5. Import the report into OCT for Consolidated groups:
    1. Review consolidation schedules.
    2. Review {A27} R&D Tax Incentive workpaper.
    3. Complete {A22} Tax rebates, credits and offsets, and {A25} Foreign income tax offset workpapers.
    4. Review {A20} Tax Calculation for correctness.
    5. Add final disclosures required for {RA} Company tax return and other forms and schedules.
      calculations diagram

This article applies to:

  • Product: ONESOURCE Corporate Tax