In last week's Monthly Close Process Overview training class, we discussed the payment and refund functionality in TIS.  It has come to my attention that one more clarifying point needs to be made.  Please allow me to explain the circumstances of the issue.

The Consolidations group is gathering payment and refund information for the 10Q (the quarterly SEC report).  In the 10Q, we have to provide the amount of payments we made and refunds we received by quarter.  When gathering the information for the 3rd quarter, the Consolidations group noticed that prior quarter information changed in TIS.  Since we cannot go back and change the information that we reported for the 1st or 2nd quarter 10Qs, those new payments/refunds have to be reported in the 3rd quarter.  Now, our YTD TIS report does not tie to the information we provided for the 10Q.

To keep the TIS report consistent from quarter to quarter, please do not add a payment or refund in TIS to a prior quarter.  For example, as of today, we are still finalizing September business (the 3rd quarter).  If you realized today that a refund should have been entered in TIS for May business, do not enter that refund in May business.  Enter it in July business (the closest month in the next quarter).  If, however, you realized today that a payment should be entered in August business, you can enter that payment in August business because August is part of the 3rd quarter which is the quarter we are currently reporting.  Please note that it is OK to change the description of a prior quarter payment or refund.  Just don't change any dollar amounts or add any new amounts.

This issue just reemphasizes the need to tie out our TIS subledgers to general ledger every month.  If we analyze the differences every month and enter the payments/refunds every month, this should not be a problem.

SPECIAL NOTE:  The Consolidations group has finalized the 3rd quarter payment and refund information for the 10Q that is due tomorrow.  If you need to make any changes to payment / refund amounts in TIS, please contact Mary Sontag.

Please let me know if you have any questions.

Lanette Earnest
Tax Solutions Team
713-853-7251
EB 1722
http://tax.enron.com/