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This article applies to:

  • Product: ONESOURCE Indirect Tax Compliance,ONESOURCE Indirect Tax
  • Subject: Import

Supplementary corrective returns

Supplementary corrective returns help businesses report transactions that they discover after submitting their initial tax return for a period. This feature offers 2 options:
  1. Supplementary returns: Include only newly discovered transactions
  2. Cumulative returns: Combine original transactions with newly discovered ones
These options in ONESOURCE Indirect Tax Compliance help businesses:
  • Maintain tax compliance
  • Reduce audit risks and penalties
  • Improve reporting accuracy
  • Streamline reconciliation processes
  • Adapt to regulatory changes
  • Handle errors efficiently
The flexibility to choose between supplementary and cumulative returns enhances the user experience while ensuring accurate tax reporting.
note
  • The supplementary corrective import feature works best when applying the correction to a single legal entity.
  • Warning messages will display on the following screens indicating that you can't make edits to transactions related to supplementary corrective imports:
    • Active
    • Drilldown
    • Reports On-Screen
  • You can't make changes through Add/Edit/Defer options on imports with the supplementary corrective imports option enabled.
    • The
      Add
       option is turned off on the Active transactions grid for these imports.
    • If you try to edit or defer transactions from
      Reports
      , you'll get a warning and changes will only apply to transactions from regular imports.
  • The corrective return will update with cumulative data if any operation on other imports with matching entity codes and periods triggers an upload during the supplementary corrective return filing process. To prevent this update, either move the return to a read-only state after import or re-run the selective import to ensure accuracy.
To learn more about supplementary corrective returns, contact customer support or your Thomson Reuters contact.

File a supplementary corrective return

Mark the
Enable Supplementary Corrective Imports
 checkbox in
Settings
 before you begin.
Follow these steps to file a supplementary corrective return.
  1. Create a new dataset. Select
    Corrective return
     from the
    Purpose
     dropdown.
  2. Go to the
    New Import
     screen.
  3. Select
    Transactions
     from the
    Import Type
     dropdown, then the correct options from the
    Allocation Specification
     and
    Import Specifications
     dropdowns.
  4. Select
    Yes
     for
    Is this for a supplementary return?
  5. Select the dataset marked with
    Corrective Return
     from the
    Select Dataset
     dropdown.
    note
    This selection is mandatory when you enable the Supplementary Corrective Imports option. The dropdown only displays corrective return datasets.
  6. Optional: Select the relevant return from the
    Select Return
     dropdown.
    note
    If you don't select a return from the dropdown, all returns in the selected dataset will update with only the transactions from the selected import file.
  7. Upload and submit the supplementary return. Proceed with uploading the data related to the missed transactions.
    note
    Only the missed transactions are uploaded to the selected dataset and return, ensuring that only these transactions are included in the submission to the tax authorities.

File a cumulative corrective return

Follow these steps to file a cumulative corrective return.
  1. Create a new dataset. Select
    Corrective return
     from the
    Purpose
     dropdown.
  2. Prepare all transactions for submission, including missed transactions and those already filed.
  3. Go to the
    New Import
     screen.
  4. Select
    Transactions
     from the
    Import Type
     dropdown, then the correct options from the
    Allocation Specification
     and
    Import Specifications
     dropdowns.
  5. Select
    No
     for
    Is this for a supplementary return?
  6. Import the file with the corrective transactions so that the dataset includes all transactions (both original and missed).
  7. Submit the adjust return.