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Search Trust Tax (ONESOURCE) Support Help and Support.

This article applies to:

  • Product: ONESOURCE Trust Tax

Preparing Assets

When you prepare assets, ONESOURCE Trust Tax gathers the account and asset combinations for the asset type you select, and calculates totals for purchases and sales. Account and asset combinations are included only if transactions or open and close positions exist in your PAN for the tax year.
You can prepare assets as often as is necessary. ONESOURCE Trust Tax recommends you prepare assets after any bridge files (including short files) are loaded to your PAN.
To prepare assets for review:
  1. Select
    WSC PLUS
     to display the WSC Plus page.
  2. Enter the end date of the accounting period you want to prepare assets for in the
    As Of Date
     field for the asset type. For example, if you want to prepare OID assets, enter the end date in the
    As Of Date
     field for the OID row.
  3. Select the
    Select
     link in the
    Prepare Assets for Review
     column for the asset type you want to prepare.
  4. Select
    Yes
     when the message asking whether you want to submit the request displays.
  5. Select OK when the "Request has been submitted" message displays. The
    Select
     links in the
    Review Assets
     and
    Review Open Tax Lots
     columns become unavailable for the asset type, and the status in the
    Status Information
     column is updated to indicate that assets are being prepared.
  6. If you want to remain on the page as assets are prepared, you can press F5 to refresh the status. Otherwise, you can track the asset preparation process using the Request Status and History page. To access the Request Status and History page without leaving the
    WSC PLUS
     menu, select
    Request Status and History
     from the
    WSC Plus Action
     drop-down list.
  7. If you want to leave the
    WSC PLUS
     menu, you can access the Request Status and History page by selecting
    HOME
     then
    Admin
    .
  8. Sometimes, an error may occur during the asset preparation process. If an error occurs, account processing stops and the accounts requiring reprocessing are marked for reprocessing. On the WSC page, the
    Errors
     field for the asset type changes from N/A to a link. Selecting the
    Errors
     link allows you to resubmit the accounts for processing. If the error persists, contact the ONESOURCE Trust Tax Support team.
  9. Assets are ready for review when the status in the
    Status Information
     column on the WSC page indicates that the assets were last prepared. The status will look similar to the following: