rtp Posting

Previously, clients needed to manually adjust their Tax Provision for Return to Provision (RTP) true-ups. Now, however, Dataset Relations allows you to automatically update the Tax Provision through the calculation and posting of RTP true-ups. For RTP adjustments to be posted, a dataset with Tax Return data (holds the filed tax return data) must be related to the same or previous period dataset with Provision data (final provision), and a same or future period Target dataset (current year tax provision).

 

You activate RTP adjustments from the Return dataset. The Return dataset is a PROV (Provision Dataset) loaded with Tax Return data. True-ups are posted to the current year Tax Provision (target dataset) using Non-Cash Tax Adjustments (for the current) and Deferred Only adjustments (for the Deferred). Through the use of parameters, the system also allows you to post multiple RTP adjustments to a single RTP Target dataset.

Important:

•The Return To Provision calculation is available for ONESOURCE Tax Provision 6.0 and above. There are 3 Types of Datasets and currently, this feature is only available for the PROV (Provision Dataset).
•For users who have upgraded to 6.0 or above, you may view and update dataset relations by selecting Administration > Manage Datasets > Datasets, select a dataset (one loaded with return data), and clicking Dataset Relations.
•For new relations select the Administration area and Administration > Manage Datasets > Datasets > Click Add > Complete the data entry > Dataset Relations.

RTP Posting Related Datasets 2013