onesourceTM

Income Tax solutions

TAX & ACCoUnTInG

onesourceTM Provision and return Integration

The only ProvIsIon And reTUrn solUTIon ThAT Works The WAy yoU doAlthough they share much of the same data, the provision and return are reported according to differing levels of detail. As a result, integrating the provision and return processes has long been one of the key pain points for tax departments — until now.

With the provision and return solution of onesoUrCe, tax professionals will, for the first time, be able to experience integration that takes into account the way they work.

Thomson reuters introduces cutting-edge technology that enables you to integrate the multileveled complexities of your provision and return processes. With this fully integrated and configurable solution you can:

seamlessly integrate onesoUrCe Tax Provision •(formerly Taxstream) and onesoUrCe Income TaxAccommodate differing levels of detail on the •provision and the return by:

Breaking out a single line item on the provision –into multiple line items on the return, and vice versaConsolidating multiple line items on the return –into a single line item on the provision and vice versaApportioning line items by percentage, or –breaking out by amount

Fully automate the return to provision true-up•leverage provision data to save time on the return•streamline key tax functions throughout the year•reduce manual and redundant effort•Automate calculation of estimated payments•

onesoUrCe is the only provision and return solution with integration that is sophisticated enough to handle the complexities of your tax department. now you can integrate your provision and return with one-to-one, one-to-many, and many-to-one data transfer. you can easily translate between the level of detail required on the provision, and that required on the return — faster, easier, and more accurately.

one solUTIon To AUToMATe yoUr enTIre TAX lIFe CyCle our all-in-one solution utilizes innovative technology to maximize time savings and minimize manual effort.

onesoUrCe focuses on process automation at every stage of the tax life cycle, so your tax department can reduce time and resources spent crunching numbers, and devote more time to tax planning.

onesoUrCe delivers powerful benefits and features that provide your tax department with:

Return to provision true-up automation: • Compare your filed tax return with your prior year annual provision, and the delta will post automatically to your current year annual provision. Time savings on your return: • leverage provision book-tax differences and pre-tax book income to help you get a head start on your return. Workflow and document management: •onesoUrCe WorkFlow Manager offers you precise control over all your tax processes within onesoUrCe Tax Provision and onesoUrCe Income Tax. our workflow solutions provide the ability to securely store all related supporting documentation for each cycle while also generating the necessary approval and audit trails to meet soX and other required controls.Single sign-on and tax dashboard: • Use one login for all your onesoUrCe applications. Gain greater control and visibility over data across the tax department—including return, provision, transfer pricing, sales and use tax, and property tax data—and improve the management of your tax department workflows.

ONESOURCE Tax Provision ONESOURCE Income Tax

Depreciation

Cost Center 1

Penalties Penalties

Cost Center 2

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Legal Entity 1

Other Depreciation

Depreciation of Leased Equipment

Depreciation of Buildings

PROVISION AND RETURN DATA TRANSFER

onesource Tax ProvIsIon

oPTIMIze yoUr TAX ProvIsIon ProCess onesoUrCe Tax Provision (formerly Taxstream) is a dynamic solution that automates your year-round tax provision processes, improves management of tax data, and minimizes risk.

At Thomson reuters, we understand the issues facing corporate tax departments: increased scrutiny from auditors and oversight committees, inefficient, manual processes, numerous data sources, and strained resources.

The solution? onesoUrCe Tax Provision’s year-round Tax Process optimization, providing tax data and user controls, both out-of-the box and custom reporting, and an automated flow of information between general ledger, provision, and return systems.

With features such as automated trial balance feeds and generation of journal entries, real time, self-reconciling reports, custom calculations, and a full soX audit trail, we provide significant time savings for your year-round tax process by reducing manual effort and streamlining the flow of tax data throughout the year. As a result, your team can spend more time on value-added activities such as tax planning.

We nUrTUre yoUr BUsIness needsAs your business needs accelerate and regulatory requirements get more complex, our easy-to-use software offers scalable, customizable capabilities to help you automate your tax processes. We’re able to help your tax department plan and be more strategic with features and benefits that can:

Integrate general ledger, erP, consolidation, provision, •and compliance systemsIntegrate custom calculations and workpapers•Improve data controls and management•Improve tax risk management procedures •

oUr eXPerTIse helPs yoUr eXPerTIseWe partner with you to become one team focused on your tax and accounting needs. our tax process experts bring tax technology and best practice experience to help your tax department become more agile and able to focus on value-adding activities.

By mapping your objectives to our solutions, we can help you streamline and automate your process year round, while focusing on your primary pain points to maximize your return on investment.

GAIn BeTTer ConTrol oF yoUr TAX dATABased on your business needs, our services are delivered individually or integrated into a comprehensive solution. By seamlessly integrating with your general ledger and return systems, onesoUrCe Tax Provision automatically generates all calculations, reports, and documentation to fulfill your tax planning, annual and interim provision reporting, uncertain tax accounting, and audit requirements.

onesoUrCe Tax Provision can handle the most complex scenarios while delivering time-saving benefits and features like:

Automated interim reporting•Complex state provision reporting•extensive effective tax rate reporting•Automated calculation of estimates and extensions•streamlined trial balance and journal entry feeds•Automated return to provision true-up•Comprehensive deferred Balance tracking•Tax basis balance sheet management •Integrated workpapers and custom calculations with •audit controlsWorkflow and document management •

Use onesoUrCe Tax Provision to achieve worldwide data collection and increased visibility into global detail. you can easily handle multiple accounting standards simultaneously, which enables you to reconcile between IFrs, U.s. GAAP, and other local or statutory accounting standards.

By utilizing onesoUrCe Tax Provision, you can achieve:

sign off and workflow controls•Full compliance with global reporting requirements such •as IAs 12Management of currency translation and tax rate •change adjustmentsComprehensive controls and management around uncertain •tax positionsGlobal effective tax rate management and reconciliation •

sTreAMlIne yoUr CorPorATe TAX ProCess With years of tax and accounting experience, we can help your organization improve financial transparency, make informed decisions, and earn more return on investment.

AuTomATe:Trial Balance •

enables you to import trial balance -data, balance it, make journal entries, and map it to lines on the tax return

Domestic Income Tax Compliance•enables you to prepare Federal forms, -and numerous state and local income tax returns

Insurance Income Tax Compliance •Processes Federal 1120-l and 1120-PC -plus life and P&C state returns

onesource Income Tax

drIve vAlUe ACross yoUr TAX orGAnIzATIon At Thomson reuters, we help you maximize your tax department so you stay competitive, while keeping an eye on your fiscal future. your tax department needs to deliver critical data quickly. onesoUrCe Income Tax helps tax professionals automate compliance and provide a seamless flow of data — from the trial balance to federal returns to state returns — quickly, accurately, and timely.

eXPerIenCe UnPArAlleled eFFICIenCy onesoUrCe Income Tax is a web-based solution that provides everything you need for virtually every type of return. With over 2,500 federal, state, and local forms, you have a wide array of tax return preparation capabilities using an organizer/tax forms approach. And it provides all-inclusive tax compliance capabilities that automate federal and state tax compliance processes for corporate and partnership returns.

onesoUrCe Income Tax is comprised of several interrelated components that provide a seamless flow of data from the trial balance to federal returns to state returns. This integration increases your tax department’s productivity while minimizing the chance for error.

TAX sTrATeGy And oPerATIonsdata is the foundation for tax and finance decisions. onesoUrCe Income Tax provides a consistent workflow and a common-user interface making data entry incredibly efficient. enter your data once and it flows through all applications and returns.

If there is a change, make it once and onesoUrCe Income Tax will automatically update and recalculate the appropriate areas. less chance of human error means reduced risk and increased efficiency — your department spends far less time on routine compliance.

sTreAMlIne And IMProve ProCesses And ConTrolsAchieve a streamlined, transparent, and efficient tax solution — one that can handle compliance and planning issues while expanding its strategic support to the broader business enterprise.

our professional tax specialists are available to work with you to implement our software in a way that best fits your unique situation and business objectives. our experience, innovative technology, and commitment to customer service ensures your continued success.

onesource sTaTe aPPorTIonmenT

TrAnsForM yoUr sPreAdsheeTs InTo An eFFICIenT, ConTrolled ProCessThroughout the year, your tax department needs to meet requirements for provision, compliance, estimated tax payments, planning, and day-to-day decision making.

Many tax departments find themselves in a quandary — they have no controlled processes for apportionment data. since the passage of sarbanes-oxley, audit teams have had to adapt to new constraints on operating frameworks, and endure more frequent meetings about compliance minutiae.

onesoUrCe state Apportionment blends unique process improvements with intuitive software to streamline the collection, sourcing, calculation, and reporting of apportionment data. Tax departments can easily adapt operations to ensure best practices are followed, changes are tracked throughout the process, and information is easily shared among all authorized users.

onesoUrCe state Apportionment delivers dynamic benefits and features to help you standardize state apportionment data, control the process, and track the changes from collection to reporting.

you can:

streamline state compliance, provision, audit, and •planning processeseliminate countless hours allocated to data •gathering, reconciliation, error checking, and spreadsheet maintenanceensure data translates into increased confidence, •elimination of surprises, and reduced riskIncrease visibility and accountability with •comprehensive audit trail and document trackingenhance auditor confidence with controls, and •by-entity, by-state effective rates Configure web-based tax packages•Maintain unaltered record of “as filed,” “amended,” •and every change in-between

A FrAMeWork ThAT ensUres PerForMAnCe onesoUrCe state Apportionment is a web-based controlled framework that leverages next-generation architecture and seamless integration with other systems. An intuitive interface allows tax professionals access from any functional area and from any location.

Using a single foundation for data collection, onesoUrCe state Apportionment enables your tax department to:

Manage, consolidate, and report apportionment data•Improve existing compliance, audit, provision, and •planning efforts to give your processes increased visibility and accountabilitystandardize and control processes•reduce the need to manually consolidate and •re-key dataTrack the changes from collection to reporting•Gain instant visibility into who did what and when•eliminate spreadsheet models for computing future •effective rates for dTAs or dTls

onesoUrCe state Apportionment helps you manage critical information across the tax operation from compliance, tax accounting, policy, and strategy to auditing.

you can reduce manual effort and improve data integrity while increasing confidence in the numbers, and can base decisions on current information. now your tax department can know what, why, and when.

An All-InClUsIve TrAnsFer PrICInG solUTIononesoUrCe Transfer Pricing provides multinational corporations time-efficient and cost-effective solutions to help complete documentation for tax authorities worldwide. It helps companies avoid costly penalties, improve analysis of data, and help management make informed, economic decisions.

onesource Transfer PrIcIng

soFTWAre solUTIonsWeb-Based softwareThe documenter version of onesoUrCe Transfer Pricing is an intuitive solution that enables you to identify comparables and automatically perform the economic analysis while making your transfer pricing processes more efficient.

There are several important benefits and features that keep you more productive and efficient, like:

Custom working capital adjustments by country•Multiuser sharing of studies•expanded set logic options for searching •comparable databasesreport configuration options•export capability to Microsoft® office Word •

documenter is also available in an express version. The documenter express version of onesoUrCe Transfer Pricing enables you to identify comparables and automatically performs the economic analysis while making your transfer pricing processes more efficient. documenter express is proven to be one of the easiest and most time-efficient ways to update your transfer pricing reports.

Another transfer software solution is the Benchmark tool of onesoUrCe Transfer Pricing. This is a comparables tool that provides multinational corporations with an automated solution to establish benchmarks for multiple intercompany transactions using standard data sources.

The Benchmark tool of onesoUrCe Transfer Pricing provides:

organization of searches by tax year to enable easy •updating of multiple searches every year or quarterTree-structure search criteria inputs for single-•screen criteria filteringenhanced data visibility during second review to •preview arm’s-length range results across multiple profit level indicatorsexport capability to Microsoft office Word•Access to comparables company databases like •Worldscope, disclosures seC, Bureau van dijk, Amadeus large and very large Companies, and european Comparables

servICe solUTIonsManaged outsourcingonesoUrCe Transfer Pricing managed outsourcing helps your outsourced business continuity arrangements become more cost-effective when compared to establishing and maintaining dedicated resources. Tax executives now have an affordable outsourcing alternative — software and outsourcing services combined into one seamless solution.

Intercompany loansIntercompany loans enable tax authorities worldwide to focus their attention to transfer pricing. This includes all aspects of international trade and intercompany loans. documenting your intercompany transactions is your first line of defense when your transfer pricing practices are challenged.

Comparable Company databasesWith onesoUrCe Transfer Pricing, you can have access to several customized versions of leading comparable company databases to help you search for companies that are potentially comparable to yours.

sTreAMlIne yoUr ProCess With new and revised regulatory mandates constantly in a state of flux, digital workflow management systems have become essential to streamlining the tax process. onesoUrCe WorkFlow Manager replaces antiquated spreadsheets, removes the need for paper file folders, delivers tailored-made processes, and provides customizable controls to keep you in compliance.

Improve quality, efficiency, and profitability within your tax department. onesoUrCe WorkFlow Manager is an innovative workflow management platform that enables corporate tax departments to standardize processes, automate, streamline, and maintain transparency.

Until now, there has never been a user-configurable and cost-effective workflow solution that meets the demands of corporate tax departments. As a leading web-hosted workflow and document management solution, onesoUrCe WorkFlow Manager’s sole focus is streamlining your tax processes by using the latest workflow and document management technologies to tie together all the components of your tax department, including:

Managing your standard procedures and tax processes•Assigning work electronically through a tax inbox•Tracking compliance, approvals, and audit trails•Automating tax department workflow and helping •manage projects and task assignmentsorganizing, prioritizing, and managing your own action •items, tasks, and deadlines

InTeGrATed doCUMenT MAnAGeMenTFrom schedule M Workpapers to scanned agreements and tax receipts, accessing the entire department’s documentation centrally, electronically, and securely has never been easier, with benefits and features such as:

virtual Fileroom: enables you to organize, manage, •secure, and easily search all tax documentsIntegrated scanning and imaging capabilities allow •for scanning of paperwork creating a truly paperless tax departmentIntegrated checklist capability enables you to define •and capture responses to all checklists within your tax processIntegrates easily with Microsoft office suite®, lotus •notes email®, Adobe Acrobat® along with our industry leading tax research solution Checkpoint

TAX PACkAGe MAnAGeMenTnow you have a pathway for more control to address your data gathering process. you can utilize your existing excel based tax packages while improving tracking and reminders around any type of tax package or information survey. other key benefits and features include:

Managing templates for data gathering for provisions, •tax return preparation, reportable transactions, and moreAutomating the creation, assignment, and tracking of •tax packagesAutomating ticklers and reminders•

onesoUrCe WorkFlow Manager benefits your entire tax department — from the executives and directors to the department staff.

InCreAsInG yoUr PerForMAnCe levelsonesoUrCe WorkFlow Manager helps you with the most stringent audits while increasing your tax department’s productivity, and improves the way you do business.

Whether your documents are created in Microsoft office, your industry-specific software, or simply scanned in, our professional tax team can help you lay the groundwork for your workflow and document management platform, so your tax department stays agile and productive.

onesource workflow manager

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