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Success Story - Toyota Financial Services

Toyota Financial Services Overhauls Tax Processes Using Corptax


Toyota Financial Services grappled with significantly different provision processes for quarterly and year-end reporting; an excessive number of Excel® files with intricate manual calculations for both the provision and state/federal returns; and data challenges for reporting state apportionment. Changes meant updating many files—draining time and creating unnecessary risk. Further, uncertainty around proposed tax law changes made planning difficult.

The team also:

  • Managed and maintained 33+ non-standardized Excel files, many quite fragile
  • Rolled forward irrelevant data contained in Excel files
  • Lost time to manual updates and processes, including:
    • Determining apportionment drivers
    • Searching for audit support when state apportionment files did not tie to return amounts
    • Fixing overrides on state returns that inadvertently impacted other state returns


Toyota completed a major process overhaul using CSC Corptax® Provision and CSC Corptax® Office. Now, the team:

  • Automates book-to-tax adjustment workbooks for quarterly/year-end provisions and compliance
  • Automates reconciliations for adjustments
  • Gains direct access to state provision calculations
  • Eliminates manual entry for state adjustments
  • Summarizes taxable income, state adjustments, and state apportionment including industry-specific basis adjustments
  • Refreshes data connections within Excel files to see changes to the specified accounts and impacts to returns
  • Uses case scenarios to prepare for retroactive and prospective TCJA final guidance


Using targeted provision and compliance automation, Toyota Financial Services:

  • Saves 40% of time spent on tax preparation; redeploys it to high-value analysis
  • Increases efficiency with a uniform process for quarterly and year-end provision
  • Uses standardized provision and compliance workbooks
  • Reduces risk associated with manual entries and calculations
  • Works proactively in the face of pending legislation
  • Provides management with confidence—Corptax and supporting files agree!