Tax Series Provision Suite

Tax Series Provision Suite

Part of the Tax Series Software Suite
"Manage your global provision calculations accurately and speedily."

Software Overview

eTaxProvision is designed as a comprehensive solution to the worldwide provision-processing needs of clients, and to meet the need for transparency of financial data within the short timeframe granted to corporations to garner data for SEC reporting.

In order to optimize the provision process, our Web-based software offers complete integration between our provision modules and your underlying corporate financial systems. Along with integration with our Tax Series global data collection and compliance modules, TTI users can enjoy unprecedented efficiency while surpassing transparency standards in their corporate tax processing.

TTI offers a complete, user-friendly, Web-based solution designed to handle global provision calculations. Our solution allows users to generate income tax provision amounts quickly while providing a complete audit trail from reported tax provision amounts to the supporting general ledger data.

eTaxProvision Module

Tax Series eTaxProvision module is a complete provision solution designed to handle global provision calculations. Its user-friendly interface allows clients to focus on more than just domestic issues. In addition, its seamless integration with other tax cycle function tools and enterprise reporting products saves clients both time and frustration, and reduces data entry errors.

Clients can use this technology as a standalone solution or as a full tax-cycle integrated solution with Tax Series’ data collection, compliance, planning, and audit tools. Its accessibility allows clients to work from anywhere in the world, at any time of the day.

eStateTaxProvision Module

With the increased scrutiny of the audit process on state provision calculations, we believe that a state-by-state provision process that is fully integrated with the worldwide provision process is critical to accurate disclosures. We offer a unique solution that allows clients to set up their state tax filings in the provision system.

The eStateTaxProvision module calculations begin with federal taxable income from the eTaxProvision module. The calculations then incorporate apportionment factors, modifications, and attributes input by the client in order to calculate the current and deferred state provision as organized by entity and by jurisdiction.

The resulting state provision reports allow the user to analyze the components of the current state provision, as well as compare the provision to the most recent state tax returns filed to ensure the most accurate provision possible in a short timeframe.

In addition, clients can analyze deferred state tax balances by entity and by jurisdiction for issues such as valuation allowance considerations and state tax planning. All state provision amounts are incorporated into the worldwide provision amounts in the eTaxProvision module.

The features below are offered by eStateTaxProvision as part of the integrated suite of Tax Series.

Module Features and Benefits

Accurate Calculations

  • Calculates current and deferred provision at the federal, state, and foreign level
  • Provides rate reconciliation reports
  • Provides both simple and complex FIN 48 interest computations
  • Calculates state income tax provision
  • Re-measures deferred tax balances for all jurisdictions
  • Calculates the currency translation adjustment on deferred tax balances
  • Calculates permanent and temporary return-to-accrual adjustments
  • Produces a tax basis balance sheet at the general ledger or summary level
  • Aggregates deferred tax items on the footnote report based on user-defined footnote groupings
  • Computes the effective tax rate for annual/quarterly tax periods
  • Aggregates effective tax rate reconciliation items on the rate reconciliation report

Comprehensive, Customizable, User-Friendly Reports

  • Details the calculation of current, deferred, and total tax provisions
  • Displays a period-over-period rollforward of gross and tax-effected deferred tax balance
  • Provides a rate reconciliation report with the ability to reconcile to the entity’s statutory tax rate, U.S. tax rate or any other statutory tax rate
  • Offers a footnote report with detail of the income tax provision by jurisdiction, aggregation of ending deferred tax balances by user-defined groupings, and a breakdown of current and non-current ending deferred tax balances
  • Displays a tax basis balance sheet
  • Provides a current liability rollforward report
  • Produces HTML, Microsoft® Excel®, and Adobe® Acrobat® formatted reports

Efficient Processing

  • Automates book-tax adjustments at the general ledger or standardized chart level
  • Grants users comprehensive import capability with built-in validation
  • Contains efficient balance management feature
  • Provides user-definable workpapers
  • Allows comprehensive activity tracking
  • Provides a mechanism for the recording and reporting of current year activity, including true-up, audit, deferred tax write-off, and purchase accounting
  • Provides user sign-off and workpaper
  • Allows for flexible multi-entity multi-jurisdiction calculations
  • Grants global participant access to expedite the provision process
  • Provides “what-if” capability using case management
  • Integrates with our Web-based global data collection module to facilitate global provision reporting
  • Integrates with the Tax Series compliance module so that compliance is substantially complete based on provision data
  • Automates return to accrual reporting and analysis

Transparency and Enhanced Management Capability

  • Allows users to enter trial balance and book-tax adjustment data at the general ledger level
  • Permits general ledger level detail to be summarized into a financial consolidation level
  • Allows collection of general ledger level trial balance
  • Provides a clear audit trail for all calculated balances, deferred tax balances, and true-up balances
  • Supplies easy-to-use workpapers to simplify posting and reviewing of adjustments
  • Allows users to navigate from workpapers to source level adjustments
  • Provides user-defined balance types to track different types of provision adjustment
  • Allows users to track tasks using a built-in task tracking tool to assist with internal controls in the provision process (SOX 404)
  • Provides a repository to maintain supporting documentation