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States

Set up state modifications adjustments

The initial screen (main area) allows you to indicate applicable tax law percentages for each modification or adjustment by jurisdiction. As a result, when you enter data in the Common State data entry area, the system uses these percentages to calculate each item.
You can:
  • Use the
    Copy
     and
    Paste
     commands to copy data from an Excel spreadsheet and paste the information on the screen.
  • Use the
    Manage Modifications
     command to create additional state modification and adjustment detail items as needed and to map Income Tax or Tax Provision items to system or user-created descriptions in the system. You must assign these user-created items a tax law percentage.
note
State modification and adjustment amounts that come from Income Tax or Tax Provision won't apply tax law percentages because these amounts were already calculated from each product.

Enter percentages

  1. Go to
    Setup
    ,
    State
    , and then
    Modifications & Adjustments
    .
  2. Select a
    Year
    .
  3. Select
    Manage Modifications
    .
  4. You can add, edit, delete, or map modifications and adjustment descriptions from Income Tax or Tax Provision products on this screen.
  5. To map modification descriptions from Income Tax and Tax Provisions, to a system defined or user-created description, select a
    Source Description
     item and then select the
    System
     or
    User Description
    .
  6. Select
    Add
     to move the Source Description to the related System or User Description.
  7. To add a new description, select the modification category type and then select
    New
    .
  8. Use the description filter to quickly find and map source descriptions to system or user descriptions. Enter the name of an item you want to map and then map the item. Once you have completed the mapping, select
    OK
    .
  9. After adding user created descriptions and mapping source descriptions, enter the applicable percentage for each modification or adjustment by double-clicking on the field.
  10. To indicate the same percentage for all jurisdictions in a row, select the field.
  11. Select
    Copy Across
    .
  12. If you change a percentage from the default percentage, the system shows a red override indicator. Hover the mouse over the percentage to see the default value.
  13. Select
    Show Order Column
     to display an additional column, Order. This allows you to define the order for each of these items to appear throughout the system. By default, the order is system-defined for each type.
  14. Select
    Save.

This article applies to:

  • Product: ONESOURCE Estimated Payments
  • Subject: Setup