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CoCounsel Legal
Transform your work with the only AI legal solution uniting research, drafting, and document analysis in a single experience. Designed by legal experts and built on trusted content and advanced AI, CoCounsel Legal accelerates multistep work so you can better serve your clients and grow your business.
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CoCounsel Tax, Audit, Accounting
Move faster and accomplish more with a professional-grade, generative AI assistant that transforms the way you work. Thomson Reuters CoCounsel is with you every step of the way, backed by authoritative content and industry-leading expertise.
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ONESOURCE
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Conversations: Applied research
Review the following example to understand the basic workflow for interacting with CoCounsel. This includes asking questions, uploading relevant documents, and generating a professional output. We recommend following along by inputting the examples questions and prompts into Conversations.
Step 1: Ask a question
Begin your conversation by typing a question into CoCounsel:
Example question:
What are the key tax and accounting considerations when evaluating provisions in a standard partnership agreement?
Step 2: Upload a document
Next, drag and drop a supporting document for CoCounsel to analyze. For this example, we can use a standard lease agreement, which can be downloaded from SEC.gov or by selecting the following link:
You can reference the document in your follow-up questions or prompts. If you have a personal document you'd like to use in this example, feel free to upload in this step.
Example prompt:
Using the previous research, apply the guidance to this Partnership Agreement.
Step 3: Ask CoCounsel to draft a memo or email
Once CoCounsel has reviewed your question and the partnership agreement you've uploaded, you can instruct it to generate a professional memo or email. Use the @AI Assistant tool to bypass the retrieval of sources and quickly use the LLM to draft a memo.
note
You don’t need to use the AI Assistant to draft items, though, it is quicker.
Example prompt:
@AI Assistant Draft a professional memo summarizing the key tax and accounting considerations found in the attached partnership agreement. Include:
An overview of tax treatment and any other relevant items from earlier as well as a conclusion or recommendation section for internal or client-facing use.
Conclusion
By completing this workflow, your team will better understand how to use CoCounsel to support your accounting and tax research and documentation processes. Feel free to experiment with other documents and questions to extend your use cases.
This article applies to:
- PRODUCT: CoCounsel
- Audiences: Tax professionals