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Search Tax Provision (ONESOURCE) Support Help and Support.

This article applies to:

  • Product: ONESOURCE Tax Provision

Post Ret-To-Prov

Tax returns for the prior year are typically filed in the current year. Once returns have been filed, a true-up must be booked for the difference between what was accrued in the prior year's provision and the actual amount on tax returns. This true-up must be booked in the current year's provision.
To post the Return-to-Provision calculation:
  1. Select
    My Datasets
     and then
    Calculate
    .
  2. Select
    Post Ret-to-Prov
    .
  3. Choose Dataset (all units), Sub-consolidation or Unit.
  4. Click
    Run
     and the data posts to the units.
note
To see the
Post Ret-to-Prov
 option, you must relate a RTP Return, RTP Provision, and RTP Target dataset to each other in Datasets. Then, in My Datasets, select the dataset assigned as the RTP Return.
  • The RTP posting activates the units/states which are inactive in the related provision dataset (RTP Provision).
  • If a posting is generated for any inactivate units/states, rates are copied from the related return dataset.
  • The State RTP correctly allocates the amount for the return basis provision between the RTP PERM and RTP TEMP components.
  • When using the automatic RTP posting functionality, if one of the datasets (Provision or Return) has a state with an apportionment percentage that does not equal 100% the NC_ postings for perms and temps are separated correctly between NC_PERM and NC_TEMP.