NEW YORK – Thomson Reuters announces ONESOURCE Tax Provision 2013, featuring more flexibility in the way tax professionals input data, conduct analysis and personalize user access. Tax provision is just one of the ONESOURCE updates to be rolled out this year.

The new version of ONESOURCE Tax Provision delivers dynamic data and analysis capabilities so tax professionals can represent their data in the way best suited to their business and structure. Expanded data dimensions allow users to put a number of faces on a single data set without creating a new one, so it’s possible to isolate specific activity or unit-to-unit scenarios (such as M&A activity). Dimensions are easily expandable and collapsible when the breakout is no longer needed, providing streamlined, focused results, which can help shave even more time off closing deadlines.

“The latest release of ONESOURCE Tax Provision delivers granular, role-based access and internal controls to manage user access,” said Joe Harpaz, managing director of the corporate division within the Tax & Accounting business of Thomson Reuters. “Combining this with our powerful reporting to validate data and create disclosures, we’ve delivered a solution that helps tax professionals deliver compliant, accurate tax provisions in less time than ever before.”

A new lead sheet provides a single view to drill down into the components of tax provision and effective tax rate, offering the ability to adjust underlying data and instantly see the impact from a single screen. This feature allows users to quickly deliver critical insight on a proposed business strategy’s tax impact. Lastly, the lead sheet helps users confirm that data entry is falling in line with forecasts, minimizing
year-end surprises.  

Role-based access has also been expanded for 2013, letting administrators configure users to mirror the roles of the tax department. This reduces the risk of errors and helps focus the tax department on the right work.

“We spend a lot of time working with our clients and understanding the challenges they face,” said Harpaz. “In developing this new version of ONESOURCE Tax Provision, we’ve worked to align our technology with the needs of our corporate tax clients.”

Along with ONESOURCE Tax Provision 2013, ONESOURCE 2013 features a number of other solutions for corporate tax professionals, including:

• ONESOURCE Indirect Tax integration to financial applications, designed to meet the indirect tax needs of global companies doing cross border business by providing global integration solutions with the most widely used ERP systems, such as SAP®. 
• The mobile version of ONESOURCE, which allows tax professionals to quickly and easily track the status of income tax e-filings from any mobile device, any time.
• ONESOURCE WorkFlow Manager makes managing your tax processes fast and easy with new powerful export and import capabilities.

Learn more about ONESOURCE Tax Provision 2013.

Thomson Reuters

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