Streamline and automate the preparation of interim and year-end income tax provisions
Built with full support of ASC 740 and ASC 980 accounting standards at its core, the tax provision module integrates with SAP S/4HANA, general ledgers, fixed asset and depreciation systems, and other tax modules to ensure timely and accurate calculation of current and deferred taxes.
By Lucasys Inc
Benefits
Ensure timely and accurate calculation of current and deferred taxes
The solution's prompt, precise computations computations for both current and deferred tax obligations give your team confidence in reporting accuracy and compliance.
Use dynamic drill-down capabilities and evaluate return-to-provision variances
Utilize interactive breakdowns to explore details and assess differences in return-to-provision results, empowering users with deeper insights and clearer decision-making.
Integrate with our full tax suite
Seamless connection of your tax provision workflow with the our full tax suite provides you with unified data, automated updates, and consistent reporting across modules—boosting accuracy, efficiency, and collaboration.
Features
Receive full support of ASC 740 and ASC 980 accounting standards
The solution's compliance with ASC 740 and ASC 980 standards, delivers robust support for regulated tax accounting, reporting, and disclosure requirements.
Streamline compliance across multiple jurisdictions.
Easily dashboard complex tax scenarios for stakeholders — support federal and multi-state tax provisions for accurate, streamlined compliance across multiple jurisdictions.
Perform reconciliations and create audit-ready reports
Fully prepare for audits with accurate and compliant tax reports, giving stakeholders confidence in data integrity and ensuring smoother regulatory reviews.
Plans and pricing
Enterprise Edition
Design: Document business requirements; formalize conversion design; formalize configuration design; formalize integration design
Data conversion: Convert most recent as-filed tax year into Lucasys software
Configuration: Configure all existing excess and flowthrough jurisdictions and basis adjustments
Benchmark: Validate software results against previously computed results in system of record
Integration: Configure allocation/attribution of book depreciation activity
Unit testing and user acceptance testing: Perform integrated testing by vendor and end user
Deployment: Deploy application and data to production server
- Minimum contract 1 year
Design: Document business requirements; formalize conversion design; formalize configuration design; formalize integration design
Data conversion: Convert most recent as-filed tax year into Lucasys software
Configuration: Configure all existing excess and flowthrough jurisdictions and basis adjustments
Benchmark: Validate software results against previously computed results in system of record
Integration: Configure allocation/attribution of book depreciation activity
Unit testing and user acceptance testing: Perform integrated testing by vendor and end user
Deployment: Deploy application and data to production server
Technical Information
| Solution type | Extensions and Add-ons |
| Category | Tax and Trade Management |
| Industry | Oil, Gas, and Energy, Utilities, Telecommunications, Cross-Industry |
| Works with |
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The following information is provided by the publisher and applies to the latest app version available on the SAP Store. SAP does not control these policies and procedures; the publisher is solely responsible for the accuracy of the provided information.
| Deployment |
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| Globalization |
Localized for business best practices This product has been localized to incorporate local business best practices (e.g. support for local currencies). |
| Operations |
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The following information is provided by the publisher and applies to the latest app version available on the SAP Store. SAP does not control these policies and procedures; the publisher is solely responsible for the accuracy of the provided information.
| Security |
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| Compliance |
SOC 1 and SOC 2 A18:C26 This provider complies with relevant AICPA standards for internal controls over financial reporting and for information system security, availability, processing integrity, and confidentiality or privacy. |
| Privacy policy |
SAP's privacy policy is not applicable to the use of this app. Please refer to the privacy policy provided by this app's partner. |
Resources
Lucasys Tax Provision
Tax Provision: Now integrated in the full tax suite
Tax Provision Press Release
Publisher
Lucasys Inc
Lucasys delivers software and technology-enabled services to empower finance, accounting, and tax professionals in asset-intensive industries to optimize the financial performance of their fixed assets and proactively meet changing regulatory and compliance requirements. With a core focus on rate-regulated utilities, Lucasys provides the industry and domain expertise utilities require to meet their business objectives.
