Return to Provision

Once you enter return data, you have the option to have true-up adjustments posted to the current year’s provision dataset. Automatic posting of return to provision adjustments can be triggered in one of two ways: your sign-off status or clicking the Post RTP button on the Return to Provision page.

Administrators can decide the sign-off level at which the automatic return to provision adjustments are posted to the entity. For example, selecting the Incomplete to Prepared option causes return to provision adjustments to automatically post once the preparer signs off on the entity.

Alternately, administrators can add the necessary parameter, so that users can click the Post RTP button.

In addition to the setup above, users must set up tax adjustment codes for the automatic posting functionality to work properly. For tax adjustments to automatically flow through to the payable, use the following codes: NC_RTP_YYYY_PERM (This takes care of true-ups for Pre-Tax Book Income, permanent differences, and tax adjustments.) and NC_RTP_YYYY_TEMP (This takes care of true-ups for temporary differences, NOL temporary differences, and after-tax temporary differences.).

Note: In versions 6.1 and higher, Administrators can