Tax Provision Starter Kit

Eliminate spreadsheets and disconnected point solutions with OneStream's Tax Provision Software Starter Kit from the XF MarketPlace

Eliminate Spreadsheet Risk and Provide a Higher Level of Confidence

Align tax provisioning with financial reporting for unparalleled consistency of data and reporting.
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Reduce Risk

Automate and streamline tax data collection and validation and ensure consistency in tax calculations

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Report Transparently

Report consolidated and statutory Effective Tax Rate (ETR) with full drill-down into supporting details, generate footnotes and management reporting

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Increase Efficiency

Synchronize data and minimize reconciliation, automate reporting and export data to tax compliance systems

Key Features

Unified Data Collection

Automate and streamline tax data collection and validation and ensure consistency in tax calculations.

  • Leverage the same trial balance load for tax provisioning as for financial reporting
  • Automate load of required book trial balance data into the tax accounts
  • Collect supplemental data through standardized data entry forms
  • Apply standard repeatable tax provision calculations that can be extended to suit your company’s needs
  • Perform consolidation and translation automatically & consistently

Rapid Synchronization and Validation

Synchronize data and minimize reconciliation, automate reporting and export data to tax compliance systems

  • Data synchronization, transparency (drill-down), and validation reduces reconciliation requirements
  • Configurable input forms for tax rates, payments and refunds, tax attribute detail, return to provision, current provision, deferred tax roll-forward, and tax account reconciliation
  • Leverage ability to create custom confirmation rules and workflow certification
  • Data exportable to tax compliance systems and importable from tax compliance to facilitate the return to provision true up

Integrated Reporting and Drill-Down

Report consolidated and statutory ETR with full drill-down into supporting details, generate footnotes and management reporting

  • Generates current tax expense, deferred tax expense, and deferred tax assets and liabilities
  • Configurable reporting that enables footnote disclosure reports required under ASC 740
  • Perform tax account reconciliation, report on consolidated and statutory ETR
  • Generate supporting management reports and footnotes
  • OneStream XF platform provides drill-down capability from report through to initial data load or input     
Using OneStream’s Tax Provision solution has been a big improvement over the spreadsheet approach we were using before. For example, with OneStream we were able to efficiently consolidate our tax footnotes and financial statement disclosures, eliminating the previously manual process. Jennifer Korrie | Corporate Tax Manager | Victaulic

Victaulic Implements Onestream for Tax Efficiencies

Learn how Victaulic leveraged OneStream to align Tax Provisioning with financial consolidation and reporting. Watch the Video

OneStream offers a powerful, flexible tax provision solution that’s completely integrated with our unified platform for financial consolidation, reporting and account reconciliations.

  • Starter kit tax cube configured to support the Total Tax Provision requirements
  • System collects data, calculates and enables reporting for all tax provision computations, including:
    • Current Tax Provision
    • Deferred Tax Roll-forward
    • Effective Tax Rate Analysis
    • Monitoring of tax losses and tax credits
    • Current and Deferred Tax Asset Balance / Walk Across
  • Alternate entity hierarchies for tax reporting
  • Tax-specific scenarios
  • Separate dimension for tax accounts, jurisdictions and other details
  • Total tax provisioning lives in the same application as the financial reporting solution
  • Prebuilt tax calculations
  • Tax input forms and reports
  • Confirmation Rules
  • Supporting documentation and commentary

Get a live demo of OneStream XF

Hundreds of organizations have made the leap from spreadsheets and legacy CPM applications to OneStream and never looked back. Join the revolution!
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