Tax Provision Automation demo
The quarterly provision built from the locked trial balance, each line tied to its workpaper. 1:32
What the demo shows
For corporate tax teams: ASC 740 provision workpapers and the ASU 2023-09 rate reconciliation
The rate reconciliation is one table in the eight categories the rule requires. A threshold column shows each item's share of tax at the statutory rate against the 5% line, so the team can see at once which lines are disclosed on their own, and every figure has a pin to the workpaper behind it. A trial balance agent imports the locked trial balance from every ledger and maps new accounts, never below 85% confidence on its own. A roll-forward agent builds the deferred tax roll-forward from the trial balance and the fixed-asset ledger and ties it to the provision and the balance sheet. A threshold agent applies the 5% rule by country and by nature, explains each result, and warns before an item crosses it. A return-to-provision agent explains each true-up in plain words, such as an R&E true-up that comes from the restored rule that the research credit reduces the R&D deduction. An uncertain positions agent proposes releases when a statute ends, and an auditor agent answers the auditor's requests before they arrive. The tax controller decides every judgment with a reason code and signs the provision.
Transcript
- Tax Provision Automation prepares the quarterly tax provision and the new rate reconciliation for tax teams.
- Since ASU 2023 to 2009, any item at 5% of statutory tax needs its own line.
- 59% of teams still use spreadsheets.
- Agents imported 46 trial balances and built the deferred roll-forward from the ledger and fixed assets.
- Kestrel and Vane's 5% threshold is $6.7 million.
- Ireland's minus 3.4% passes it, so it gets its own line.
- Its top-up tax is at 95% of the threshold, so the agent warns early.
- Every figure pins to its source.
- The $412,000 true-up is explained as a change in R and decapitalization.
- Tax controller Ayesha Grant accepts it with a reason code and signs the provision.
- Every figure is cited, every decision signed, and every step logged.
- 16 lines tested and the provision signed on day five.
- Built on Botminds: agents, data, screens, and governance on one platform.
Transcribed from the film’s narration. Captions are on the player.