Overview

The provision process for most companies requires tax package templates to be emailed to their foreign and domestic subsidiaries. These subsidiaries compile the appropriate data and populate the files. The files are then emailed back to the Corporate Tax Department (Corporate) and consolidated to compute the provision. This requires manual consolidation, which consumes lots of time, and makes immediate feedback to foreign users almost impossible.

With Global Access (formerly iTaxStream), foreign and domestic subsidiaries compile tax provision information and enter it directly into the Global Access website. This results in subsidiaries having access to reports that immediately compute their provision and effective rate. Data is entered directly into the database, reducing the potential for errors and saving time. Consolidation of all information occurs automatically within ONESOURCE Tax Provision Corporate Edition (formerly Enterprise).

In addition to stream-lining the process of entering and consolidating provision information, the system provides users with a set of controls. In Global Access, up to eight levels of sign-off can be created for users. Access to units can be limited by sign-off level. Also, adjustments such as permanent and temporary differences can be assigned on a unit-by-unit basis. The status of sign-off level displays on the first page (unit list) of Global Access, as well as in the Sign-off Summary report in Corporate Edition.

In the remainder of this manual, we discuss all parts of Global Access and how to best use this application to improve your provision process. Data entry pages and reports, as well as administration, are discussed.