GoSystem Tax RS supports both federal and state e-filing, with users able to validate returns prior to e-filing. Another handy feature is the ability to click on any line on a completed tax form to display an audit trail for the amount displayed. Diagnostic messages are also available in the application and users can easily view processing results as they are entered using the auto-compute feature. GoSystem Tax RS offers solid help functionality, with help options available directly from the user interface. The Help and How-To Center offers support options for all modules, along with a searchable knowledgebase, user guides, and various training options, which include web, classroom, custom, and on-demand training. GoSystem Tax RS does not offer a portal, but the product offers easy integration with the NetClient CS Portal, part of the CS Professional Suite of applications.
Tax planning & preparation
Once a return is completed, users have the option to preview the return for errors or omissions. GoSystem Tax RS supports multiple monitors, making it easy to view various sections of a return simultaneously. If errors are found, corrections can be made directly in the organizer, with the option to refresh the return to reflect the changes. Those using Thomson Reuters GoFileRoom or FileCabinet CS can automatically save the completed return directly without leaving the application. GoSystem Tax RS also integrates with a variety of third-party applications such as EMC Documentum, SurePrep, and Copanion, all designed to decrease the amount of paperwork needed to process client returns.
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In this demonstration you’ll explore the processes for MyTaxInfo, and see how it can make the collection of tax information from taxpayers easier and more reliable. You’ll also see how MyTaxInfo virtually eliminates transcription errors, ensures accuracy, improves speed and efficiency, and how it can be customized for your firm and client needs thanks to its complete integration with GoSystem Tax RS. Process individual, corporate, and partnership returns with timesaving tools, such as the Allocation and Apportionment module. Leveraging APIs, BPB streamlined the activity of their workbooks by implementing an automated process that enables one time data entry for 1065 federal engagements. “One of the pain points consuming a lot of time and causing issues and inefficiencies in our tax department was the activity of our workbooks. Data is collected, calculations are done, and then the data from the Excel workbook must be manually re-entered into GoSystem Tax RS,” said Walker.
Ready to make the switch?
GoSystem Tax RS from Thomson Reuters is part of the CS free charity event fundraiser online invitations Professional Suite of applications designed for accounting professionals and corporate tax departments alike. GoSystem Tax RS is well suited for firms preparing multitiered consolidated corporate returns, life insurance returns, and tax equalization returns, though the program handles individual returns as well. Completely online, GoSystem Tax has an intuitive user interface that is easily navigated, and offers easy access to organizers, as well as multiple views. The product supports multiple monitors, making it particularly useful for firms with multiple users. The QuickTrack feature allows users to easily access frequently used organizers and the QuickForm option offers easy access to all major tax forms.
With more than 300 accountants, tax specialists, and consultants, BPB is one of the largest accounting firms in South Florida and one of the top 100 firms in the United States. See how GoSystem Tax RS provides a sophisticated web-based system that provides the power to handle your most complex tax scenarios. Walker shares, “In the last couple of years, a lot of companies undertook automation because of the environment that we were forced to live in. They were forced into the position to do so, and they adapted or they went out of business. CPA Practice Advisor is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. Protect your data with multiple layers of security, including network security, virus protection, encryption schemes, and more.
- Though it’s a common practice throughout the accounting profession to collect client data via an Excel workbook and then manually re-enter that same data into accounting software, it’s also a known vulnerability in managing cost and time.
- Connect with a Thomson Reuters solution expert to see what groundbreaking functionalities have been missing from your preparation process.
- Our latest Future of Professionals Report examines how AI technology is transforming professional work, highlighting key findings and recommendations.
- Users can also navigate directly to a specific form using the QuickForm feature, with links available to choose from numerous form options.
- Electronic filing is supported in GoSystem Tax, with both federal and state e-filing available.
GoSystem Tax RS has a minimalist approach, using intuitive user entry screens that are populated only with necessary what is the procedure for preparing a trial balance features and functions. GoSystem Tax RS makes good use of tax organizers, allowing users to access the client organizer or the tax forms. The QuickTrack feature offers access to organizer details, with a series of links available for quick access to a particular area within the organizer. Though it’s a common practice throughout the accounting profession to collect client data via an Excel workbook and then manually re-enter that same data into accounting software, it’s also a known vulnerability in managing cost and time.
Connect with a Thomson Reuters solution expert to see what groundbreaking functionalities have been missing from your preparation process. “People gravitate to what they’re comfortable with, much like accountants gravitate to Excel. So, success (in automation) is best accounting software and invoice generators of 2021 about ensuring the cost and effort that it took to implement the solution is enforced with a healthy ecosystem, a healthy process that maintains it. Our latest Future of Professionals Report examines how AI technology is transforming professional work, highlighting key findings and recommendations.
