Data transfer exceptions between Estimated Payments and ONESOURCE Income Tax
The following are some exceptions when using the transfer functionality between Estimated Payments and ONESOURCE Income Tax.
Kentucky
By law, Kentucky recognizes only 3 installment payments for the 2nd, 3rd, and 4th quarters. The Tax Accounting System Tax Payments screen and Organizer have fields for the 1st, 2nd, and 3rd installment information.
When you use the transfer feature from Estimated Payments, the system handles the transfer in the following order:
From Estimated Payments | To ONESOURCE Income Tax |
|---|---|
2nd quarter | 1st installment |
3rd quarter | 2nd installment |
4th quarter | 3rd installment |
Ohio
The state doesn't require prepayments of next year's estimated tax. Locking Ohio quarterly estimated payments doesn't transfer data to ONESOURCE Income Tax. Enter your estimated tax payment information directly in the prior year Tax Payments worksheet (in the Tax Accounting System) in ONESOURCE Income Tax.
Tennessee
The Tennessee Excise tax return is treated and computed as income tax. To obtain the correct calculation, process your Tennessee Excise information as income tax in Estimated Payments.
Unsupported transfers
Data transfer between Estimated Payments and ONESOURCE Income Tax won't occur in the following situations:
- An entity has multiple binders in Income Tax and Binder Identification isn't marked for the selected jurisdiction and period.
- The filing group type doesn't match the Binder Identification assignment. For example, an entity is included in a separate filing group, but is marked as part of consolidation in Binder Identification.
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Transfer estimated payments data to ONESOURCE Income Tax
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