Summary of the Tax Provision Functionality by Version

Below are the versions of Tax Provision with it's associated functionality.

There is an attached zip file that has all the Release Notes for each version.

Note: Tax Provision Blueprint is not an upgradeable solution.

PV430 SV100 - release date: Nov 30, 2018 (referred to as Dev01)

Initial launch of Tax Provision.

Feature Functionality

National jurisdiction tax provision.

PV511 SV100 - release date: Sep. 23, 2020 (referred to as Dev02)

Feature Functionality

The Tax Provision solution now supports the ability to compute Local Tax Provisions. 

• UD1 now includes Local Jurisdictions.
• Business Rules now calculate both National and Local Jurisdictions.
• All Schedules have the ability to display either the National Jurisdiction or any one of the Local Jurisdictions.
• Added the ability for an entity to receive a National Tax Benefit from Local Jurisdiction(s).
• Where applicable, Schedules will suppress specific rows or columns that are not related to the selected Jurisdiction, allowing the same Schedule to be used for different purposes.

See KB article: "Release Video - PV5.1.0 SV100"

Additional Enhancements

• The Tax Provision Setup Instructions contain detailed information for all implementers and Administrators regarding the use of Schedules in both the Seed Year and the years after the Seed Year.
• There is now a Tax Provision Dashboard which includes a Home page.
• There is now a Settings page that is accessible from the Tax Provision Dashboard.
• The top line in each Schedule now shows the Calc Status.
• Schedule row and column descriptions now include data origination and destination. Also, specific data cells will display a colored box around them to indicate where data is expected.
• Analysis Cube Views were created and can be attached to a Workflow.
• The SaveDataEventHandler Business Rule now validates the years that a user enters into Schedules 2, 3, and 4.
• Error messages will pop up when trying to save or calculate incorrectly entered years. These  messages contain corrective instructions.
• An Admin Cube View (available in OnePlace) is provided to help the Administrator pre-populate the Origin Year for Schedule 3.
• The Start Year is now referred to as the Seed Year.
• Form Templates are now created using Dashboards rather than Cube Views.
• The main Finance Business Rule (TXP_BusinessRules) has been re-organized and is better structured for understanding and maintenance.
• RTP - Return Year must be set and no longer defaults to the prior year.
• In Schedule 3, the data for UD2 member “CY > -19” no longer rolls off the schedule, but rather is added to the last year’s balance.

PV620 SV100 - release date: Sep 24, 2021 (referred to as Dev03)

Feature Functionality

The Tax Provision solution now supports the ability to calculate a tax provision with or without Group Filings (GF): National and/or Local jurisdictions.

• Workflows are used extensively to facilitate the different tax provision setups for group filing or no group filing.
• The Entity dimension has 2 new Text 7 properties required for group filing: “NatFiler=Yes” and “LocalFiler=Yes”.
• The UD1 National JD has a Text 2 requirement for National GF: “NatGF=Yes”.
• The UD7 dimension is now being used to hold the group filing entities.
• New schedules have been created to allow the users to enter in Group Filing Definitions.
• The Finance BR “TXP_BusinessRules” has been updated for the UD7 dimension.

See KB article: "Release Video - PV6.2.0 SV100"

Additional Enhancements

• Additional UD8 members have been added for dynamic reporting.
• There are now ten Form Template Profiles to assist with the different types of workflows. The tenth one being the Admin profile.
• All schedules now have an attached PPT file. These files can be customizable to each application.
• Schedules no longer have an Instructions section below the POV / above the cube view. Instead, we now have a PPT help file with the instructions in it. This saves on the schedule’s real estate space.
• All schedules now include a vertical and horizontal moveable splitter bar.
• Five new copy schedules have been added – DM 10a, DM 10b1, DM 10b2, DM 30a and DM 30b. DM 10a is used to copy the National provision data to the National filer entity.
• Several new Data Management jobs have been created to assist with copying data and annotations.
• There are now Scenario formulas on both Actual scenarios that impact the first period of the following year when a calculate is done in period 12. These can be removed or changed based on your specific app.
• Four Forecast scenarios have been created for reference only.
• FX rates and Excel data files are included with sample data that can be loaded into the Tax Provision app.
• Schedules that start with a “DM” represents a Data Management job that copies data or cell text.
• Schedules that start with a “LP” represents Local Processing for local jurisdictions.

PV620 SV200 - release date: Feb 28, 2022 (referred to as Dev04)

Feature Functionality

The Tax Provision solution now supports the ability to execute a bulk data copy:

• Allows National group filers to copy the national preparation data to the filer member.
• Allows copy from National to Local jurisdictions.
• The GLTaxAdmin workflow allows you to process all the different country bulk data copies from one workflow.
• A new Finance business rule was created called “TXP_CustomCalcs” which is used to calculate the new Time Stamp for the bulk data copy dashboards.

Additional Enhancements

• Several reports now have a combo box selection to select the number of decimal places to display for percentages.
• The Tax Provision dashboard home page for reports is now divided into two panes – Report Groups and Reports.
• Several reports now have a check box to allow you to sort the entities in the combo box.
• Reports now let you select the time period (month) for the report and assumes the workflow year you are in. This means that the user does not have to be in a specific workflow period to run a report.

PV620 SV300 - release date: Jul 10, 2023 (referred to as Dev05_Dscr)

Feature Functionality

The Tax Provision solution now supports Interim Reporting computations for the current year.

• Option to calculate a full year forecast for the current period.
• Ability to calculate the Interim Reporting Run Rate in the forecast scenario.
• Added classification of discrete items to facilitate Interim Reporting.
• Includes Losses Not Benefited computation.
• Consolidated Interim Reporting Run Rate is used to calculate and report the Applied
  Interim Reporting Effective Tax Rate.
• We have assumed that the workflow profiles are the same for Actual as well as for Forecast scenarios.
• Single year Forecast scenarios are set up to use the Scenario Type of “ScenarioType8”.
• Six new FX rate types have been added that are used on forecast scenarios.
• New sets of schedules have been created for Forecast scenarios.
• New Forecast Tax Reviewer reports have been created.

We added the ability to do a bulk copy of last year’s CY tax rates & last year’s Deferred tax rates into the current year. This is only done in period 1.

See KB article: "Tax Provisioning Blueprint Overview - PV6.2.0 SV300"

See KB article: "Release Video - PV6.2.0 SV300"

Additional Enhancements

• Added parent account TXP_TIBeforeLosswNatBen to allow the National Benefit Deduction to be
  included when creating a tax loss.
• We added a new Global Setting page option for a security group.
• All schedules and Reports now have a “Refresh Data” button in the toolbar.
• We added the “Sticky POV” concept on the schedules. This will hold your POV as you go from schedule to schedule.
• Reports will now automatically hold your POV (same as the Sticky POV concept).
• Schedule column headers now indicate if there are linked CV’s in that column.
• Additional Actual Tax Reviewer reports have been created.
• Multi-year Forecast scenarios are set up to use the Scenario Type of “ScenarioType7”, but we have not explored that avenue in this release.

PV730 SV100 - release date: Jan 15, 2024 (referred to as Dev06)

Feature Functionality

Lots of new reports were created and updated.

See KB article: "Tax Provisioning Blueprint Overview - PV7.3.0 SV100"

Additional Enhancements

• Added the UD1 "Total Local" member to the toolbar combo boxes.
• Added monthly, quarterly & yearly confirmation rules for forecast scenarios.
• BR's - changed the reference for "RemoveZero" to "RemoveNoData" - specifically for forecast scenarios.
• FX calculations were updated to include local FX due to multiple translations.
• Documented which dimension members can be "renamed", "deleted" or not touched.
• The Waterfall graph (80a) no longer uses BR’s for the graph. There is now a new Advance Chart called “Waterfall” that has the same functionality as the BR.