ONESOURCE Income Tax users, have you ever wondered what Binder Identification is? Binder Identification is your way of letting us know where your ‘real’ data resides. We know you have binders used for planning purposes. You often activate all states even though you only file in 28 of those jurisdictions. You may file your CA combined return out of one subconsolidation, while you file your IL Consolidated return out of another subconsolidation.
We currently use binder identification to generate accurate results in the gadgets on the ONESOURCE platform, for the ONESOURCE Income Tax/ONESOURCE Tax Provision integration, and for the Federal Adjustment Workpaper. As we add functionality to the ONESOURCE products, it will be used more and more.
The Binder Identification screens reside under the Tools menu in ONESOURCE Income Tax. So, don’t wait, fill them out today. You’ll be glad you did.