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Tax provisions with OneStream

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Tax provisions with OneStream

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Reconcile tax provisions easily with reports through OneStream CPM. Say goodbye to spreadsheets and stand-alone solutions and automate your tax provisions and tax calculations.

Automate and streamline the collection and review of tax data and achieve consistent tax calculations.

Report consolidated and statutory effective tax rate including comprehensive breakdown of supporting details, footnotes and management reports.

Reconcile data while minimizing the need for reconciliation: Automate reporting and export data to tax compliance systems.

Main features | OneStream XF

1. uniform data acquisition

Streamline and automate the gathering and evaluation of tax data while ensuring accurate and consistent tax calculations..

  • Use the same balance list data loading processes for tax accruals as for financial reporting.
  • Capture additional data using standardized forms.
  • Use repeatable standard calculations in the tax provision, and extend them to meet the needs of your business.

2. data reconciliation and validation

Use a unified platform to minimize reconciliations. Automate reporting and export data to your tax systems.

  • Data reconciliation, transparency (drill-down) and data validations reduce the need for reconciliation.
  • Configurable input forms for tax rates, payments and refunds, tax characteristics, accruals, current accruals, deferred tax progression and tax account reconciliation.
  • Data export and import to tax systems for easier reconciliation of tax returns and accruals.

3. integrated reporting and drill-down
Provide detailed analysis and breakdown of both consolidated and statutory effective tax rates, accompanied by supporting information, footnotes, and comprehensive management reports.
  • OneStream calculates current tax expense, deferred tax expense and deferred tax assets and liabilities.
  • Configurable reporting including required notes, e.g. according to IAS 740 or ASC XNUMX.
  • Perform tax account reconciliation, report on consolidated and statutory tax rates.

A screenshot of a business dashboard.

Additional functions

With OneStream, you get a powerful, flexible tax provisioning solution that fully integrates with financial consolidation (OS), reporting (OS) and account reconciliations.

  • Use pre-built tax data cubes that cover all requirements of a total tax provision
  • The system captures data and generates reports for all tax provision calculations, including:
  • Current tax provision
  • Deferred tax progression
  • Analysis of the effective tax rate
  • Monitoring tax losses and tax credits
  • Balance of current and deferred tax assets / Walk Across
  • Alternative corporate hierarchies for tax reporting
  • Tax-specific scenarios, calculations, input forms and reports
  • Separate dimensions for tax accounts, jurisdictions and more
  • Experience the power of total tax provision calculation and financial reporting all in one application, sourced from a single, streamlined solution.

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