ONESOURCE Tax Provision, taken further

Slide 1: Your tax provision, taken further.

We implement Thomson Reuters ONESOURCE Tax Provision (OTP) for teams new to it, and take existing set-ups further: the inputs that feed it, the automation around it and the tailored tax notes you want from it.

Slide 2: Thomson Reuters built the engine. We implement it, or improve yours.

Current and deferred tax: every entity's provision: permanent and temporary differences, losses and rate changes.

Year on year: each year's figures carried forward, with adjustments posted where last year's filed return differed from the provision.

Reports at every level: trusted standard reports for any entity, sub-group or the whole group.

Our part: already running OTP, we review your set-up and help you get more from what you already own. New to it, we set it up for your entities, tax rates and adjustments, and build and test the provision with your team.

Slide 3: Three ways to take OTP further.

Build them into a new implementation, or add them to the OTP you already run.

1. Inputs: your existing entity tax packs improved, or new ones built for you, with a summary sheet that loads the results straight into OTP.

2. Outputs: tailored tax notes for every entity and the group. Two ideas: an Excel pack, or custom reports added inside OTP.

3. Integration, OTP and OSR: your tax note sent from OTP straight into your statutory accounts in ONESOURCE Statutory Reporting (OSR), through ONESOURCE Workpapers.

Slide 4: Option 1 of 3: Inputs

We take the entity tax packs you already use and improve them, or design new ones for you. Then we build a summary sheet that loads the results straight into OTP, by file upload, Thomson Reuters' Excel add-in, or a direct system link. The screenshots that follow are one example.

Slide 5: We start with the packs your entities already use

Your packs, improved. An example we've built, in the accounting language your entities know. Workings and checks added where you need them.

Slide 6: Improved, not replaced

Your packs, improved. The questions you already ask each entity, up front. Clear workings for the adjustments that matter to you. Figures worked out from what is already entered. Every check in one place before the pack comes back.

Slide 7: Trial balances brought in

Whatever your systems produce: one finance system or many, by file or a direct system link. Checked on the way in: every account matched to the right tax line and balanced before it is used. Nothing typed in twice: the ledger figure is the figure OTP works on.

Slide 8: Summary sheets that load the results straight into OTP

Collect: your packs come back from every entity. Combine: a summary sheet gathers and checks every result, 10 entities or 300. Load: straight into OTP in one import, including prior-year adjustments. Calculate: OTP calculates the provision on figures nobody retyped.

Your team spends the close reviewing the provision, not chasing and keying data.

Slide 9: Option 2 of 3: Outputs

Tailored tax notes built from the provision.

Slide 10: Want a tailored tax note? Here are two ideas.

Idea 1, an Excel pack: your note laid out in a branded workbook for the group and every entity, built from OTP's standard reports. It works on any OTP, with nothing to install.

Idea 2, inside OTP: custom reports saved in OTP's own Reporting, so the tax team reviews the note where the figures live, for any entity or the group.

All from the same provision, so every version agrees. Need the note in your statutory accounts too? See Option 3.

Slide 11: The tax note in Excel, for the group or any entity

Idea 1, an Excel pack. The standard OTP reports, loaded with one click. Your group disclosures, this year against last, or pick any entity in the consolidation and its note rebuilds. Five tables for the group and for every entity, each checked back to OTP.

Slide 12: Every entity at a glance, and the movements behind it

Idea 1, an Excel pack. Every entity: profit before tax, tax charge and effective rate. Deferred tax by category, opening to closing.

Slide 13: Reports inside OTP, for the tax team's review

Idea 2, inside OTP. In OTP's own Reporting: listed in OTP's report menu beside the standard reports. Your selections: pick the dataset, the level and the currency, then run. Flexible reporting: any entity, sub-group or the whole group, both years.

Slide 14: Option 3 of 3: Integration, OTP and OSR

Your tax note sent from ONESOURCE Tax Provision straight into your statutory accounts in ONESOURCE Statutory Reporting, through ONESOURCE Workpapers.

Slide 15: Tax Provision and Statutory Reporting, joined up

ONESOURCE Tax Provision, the provision: current tax, deferred tax and the rate reconciliation for every entity. ONESOURCE Workpapers, the link: provision lines matched to your accounts template, checked, and carried across by Thomson Reuters' Excel add-in. ONESOURCE Statutory Reporting, the accounts: tax notes in the statutory accounts that agree to the provision.

Thomson Reuters provides both products and ONESOURCE Workpapers. We build the link between them, so the tax figures in your accounts are never retyped or reconciled by hand.

Slide 16: The same figures, printed in the accounts

The tax charge note: 353,750, the same as OTP. The deferred tax note, from OTP's deferred balances.

Slide 17: Checked before it goes, and after it lands

Sent through ONESOURCE Workpapers, into your template's own rows. The status: every check shows no difference, or says what to do next.

Before it goes: every deferred tax category matched to its line in the accounts; opening equals last year's closing. After it lands: profit, tax charge and deferred tax agree between OTP and the accounts. Tagged for filing: the note prints in the accounts and the tagged electronic filing.

Slide 18: Bespoke by design. Nothing off the shelf.

What you have seen is one example. Every pack, report and link we deliver is designed around your setup.

Your language: packs worded the way your entities talk, in your chart of accounts. Your reports: layouts, checks and branding to fit your reporting pack and your reviewers. Your systems: finance systems, OTP and OSR connected by file upload, Thomson Reuters' Excel add-in, or a direct system link. Your team in control: documented and handed over, so it runs without depending on one person.

Slide 19: What our clients say

"Osprey Consulting provided exceptional support throughout our implementation of ONESOURCE Corporate Tax and ONESOURCE Tax Provision. Mark and Charlotte demonstrated a high level of professionalism, marked by consistent follow-ups that ensured progress was maintained and any challenges were addressed promptly. They were always approachable and willing to assist, going beyond standard expectations to provide practical solutions tailored to our needs. In particular, their development of certain workpapers that integrate with ONESOURCE Tax Provision saved our team a significant amount of time. This enabled us to streamline processes and improve productivity. Overall, Osprey Consulting's commitment, responsiveness, and technical capability made them a valuable partner in delivering a successful implementation."

Group Tax Manager, global travel and financial services group. ONESOURCE Tax Provision and Corporate Tax, implemented together for a multinational group.

Slide 20: Built into a new implementation, or added to the OTP you run

1. Set-up or review: OTP set up for your entities, tax rates and adjustments, or your existing set-up reviewed. 2. Inputs: your entity tax packs improved, or new ones built, with a summary sheet that loads them into OTP. 3. Outputs and integration: tailored tax notes and reports, and the link into your statutory accounts. 4. Handover: your team trained and documented to run it every reporting period.

We are a Thomson Reuters ONESOURCE partner. The same senior team from the first workshop to handover, and you work directly with us throughout.

Slide 21: What would you take further in your provision?

Whether you're choosing who will implement OTP or want more from the one you have, it doesn't have to be a big transformation. We're happy to start small. Mark Hart, FCA and Charlotte Hart, FCA, CTA, [email protected].

Thomson Reuters and ONESOURCE are trademarks of Thomson Reuters; Osprey Consulting is an independent partner. Screenshots use demonstration data.