state return processing in onesource - kpmg · tax accounting system. organizer. tax forms. state...

State Return Processing in ONESOURCE

Jacqueline ZiembaManaging DirectorKPMG LLP345 Park AvenueNew York, NY 10154

Tel 212-872-3080Fax 404-745-0431Cell [email protected]

3

4

Confidential and Proprietary

Jacqueline ZiembaBackgroundJackie is a managing director in KPMG’s Business Tax Services practice in New York City office. She is a leader in the firm’s Compliance Management Services National Center of Excellence (CoE) practice.She specializes in process redesign and transition of compliance engagements. She assist clients by driving tax performance through the use of Lean Six Sigma (LSS) and leading practices aimed at increasing efficiencies and eliminating waste. She has more than 25 years of experience in federal and state taxation and implementation of compliance software.Professional and industry experienceJackie’s clients include Global 500 and Fortune 1000 public multinational corporations, as well as private and mid-market companies. Jackie has primarily focused on the following:• Developing, assessing, and Implementing strategies in the areas of tax department redesign,

organizational strategies, and processes for compliance and reporting functions• Coordination, transition, and management of global compliance management services, as well

as liaising with foreign affiliates, implementing technology, and providing project management support and training

5

ObjectiveHow to prepare and review separate and combined returns by effectively using Batch Process, State A&A logic charts, State TI workpaper for state Modifications, and Review - State taxable Income all within Tax Accounting System.

6

Overview of State Process

7


State ProcessTax Accounting

SystemOrganizer Tax Forms

State A&A Workpapers

State TI Workpapers

Federal Organizer

Federal Taxable Income

State Tax Forms

Common State

Organizer

State Organizer

A&A Folder

State Organizer

8

Charts

9


State Charts

• State charts control the display and flow of information • State A&A Workpaper• State Taxable Income Workpaper

• Ensure a high level of consistency throughout consolidated groups• Add efficiency by providing the ability to make a single change and allow

that change to be applied to multiple entities• Can be rolled over from one year to the next

10


State Charts

11


State A&A Charts- A&A Dependencies

12


State A&A Charts- A&A Logic Chart

13


State A&A Charts- A&A Form Mapping

14


State A&A Charts- Reconciliation

15


State Chart Summary

• Allocation and Apportionment• Jurisdictions

• Prepopulated by default• Categories• Logic *• Forms Cross-Reference *• Reconciliation *• Filters

* Chart assigned to binders

16


State TI Charts – Taxable Income Dependencies

17


State TI Charts – Categories

18


State TI Charts – TI Form Mapping

19


State Charts - Filters• Available for both A&A and TI Workpapers• Example use – to filter out combined states

20

State Process Overview

21


Batch Process

22


State Modifications - Binder

23


State Modifications - Columnar

24


Payments - Batch

25


Modifications - Leading Practices• Using Tax Accounting System (TAS) leads to efficiencies

• Populate via import vs. manual entry• Populate without opening binder/locator• Populate multiple binders/locators at once

• Control• Limits issues later in process

• Consistency• Limits issues later in process• Proper data entry is essential to a successful consolidation

• Data must be entered in the correct binders• Data must be entered at the correct level

• TAS vs. Organizer• Data must be entered consistently in each member• Improper data entry will cause the consolidation to be out of balance

26

Types of Review Workpapers

27


Efficient Processing – Review• Utilize Review Workpaper in TAS

• Various options• Single binder

• Single state• Multi-state

• Multi-binder• For members of consolidation• For members of binder group

28


Efficient Processing – Review• Single Binder: Multi State

29


Efficient Processing – Review• Multi Binder-Consolidation• Consolidation• Review data in columnar format for combined/ consolidated returns

30


Efficient Processing – Review• Multi Binder: Binder Group

31


Troubleshooting• Things not working right?• Double Check Charts:

• Verify that a Forms Mapping chart is assigned• Verify that A&A Charts have been assigned• Verify that subcategories are correctly mapped in the Forms Mapping Chart

• Verifying you have computed• Verify that the TAS Compute option to Update Organizer with State TI TAS is enabled • Perform a TAS Compute to transfer State TI data to Organizer

• Activation• Verify that the states have been activated in Organizer• Inactive State – Consolidated Binder• A&A Activation

32


State Options• Select or de-select options individually• Right-click & select Auto fill Column to apply the selection to all companies on the list• Use filters to select which companies to display• Click Update Organizer to transfer selected options to the Organizer

33


Efficient Processing – Review

34

Leading Practices

35


ONESOURCE Customer Care

36


State Combined Guides• Combined Help • Listed toward bottom of state folder • Provides specific state instructions for data entry for Top Con, parent, subsidiary,

and elimination • Maintain detail consistency• Ensure a successful consolidation

37


Notice• Some or all of the services described herein may not be permissible for KPMG audit clients and

their affiliates or related entities.

• The following information is not intended to be “written advice concerning one or more Federal tax matters” subject to the requirements of section 10.37(a)(2) of Treasury Department Circular 230.

• The information contained herein is of a general nature and based on authorities that are subject to change. Applicability of the information to specific situations should be determined through consultation with your tax adviser.

• The KPMG name and logo are registered trademarks or trademarks of KPMG International.

• © 2019 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.

THANK YOU

state return processing in onesource - kpmg · tax accounting system. organizer. tax forms. state...

Documents