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.

 

See Return to Provision (RTP) Posting for more information about the Post Ret-to-Prov option.

 

To post Return-to-Provision calculation:

1.Select My Datasets and then More.

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.

 

•To see the Post Ret-to-Prov option, you must relate a RTP Return, RTP Provision, and RTP Target dataset to each other in Dataset Relations. 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.