Vertex® Provision Income Tax Solution
In a business environment of increasing complexity, greater regulatory scrutiny, tighter deadlines and heightened risk, tax professionals are being asked to assure accuracy in less time and with fewer resources.
Vertex Provision is designed to create process efficiencies that touch the entire tax lifecycle thereby reducing the time you spend calculating provision, controlling the risks of inaccurate reporting, and populating data into compliance applications.
Vertex Provision is a part of our line of integrated income tax provision and compliance solutions. Vertex offers one of the most comprehensive suites of global income tax solutions in the industry.
Income Tax Provision Benefits
- Seamless information sharing that reconciles all tax accounts to general ledgers for each legal entity
- Scalable to grow as your business needs change
- Enhanced security to ensure data integrity
- Automates and standardizes the end-to-end global provision process
- Reduces risk with streamlined integration of general ledger and adjustment data by reducing manual data transfer and room for error
- Audit defense through robust documenting capabilities to produce not only your required provision statements, but also supporting detail required by state and local auditors
- Advanced reporting with all reports and results stored in the Vertex Provision database allowing data to be automatically recalled or rolled forward and reused
Income Tax Provision Features
- A single platform, database and user interface for your global provision, FASB ASC 740-10 (FIN 48) and US compliance including federal and state estimated payments
- Easy and accurate return-to-provision processing without data import/export
- Integrated tax account reconciliations and tax journal entries that tie-out Vertex provision calculations to your general ledger accounts
- Fully supported non-U.S. entity provision processing for local and GAAP accounting in local and reporting currencies
- Support for U.S. GAAP, IFRS, and other accounting standard adjustments
- Calculation and reporting for all required footnote disclosures
- Powerful, yet user-friendly, automated adjustment tools
- Provision calculations on full comprehensive income via categories of intra-period tax allocations
- Prior year adjustments for provision to return, return to amended, or to final tax settlement
- Tracking of gross and net cumulative temporary differences
- In-depth state-by-state provisions that leverage federal provision inputs and state compliance outputs
- Views and calculations for global taxability on a country-by-country basis
Featured Resources
Learn how automation helped Olympus Corporation of the Americas achieve faster, more accurate provisioning and reduced risk with Vertex Provision.
White Papers
Ease the burden of calculating tax provision by automating data collection and calculation.
Case Studies
ING Financial Holdings Corporation streamlines operations with Vertex Income Tax Domestic and Vertex Provision Central Tax Office.
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