Thomson Reuters’ ONESOURCE Compliance & Reporting automates the process of generating tax returns. It also ensures compliance with tax laws in every jurisdiction across the world. ONESOURCE offers real-time data on rates and regulations, customisable tools and workpapers and e-filing support.
It enables you to tackle complexities and ongoing changes in GST, VAT, and sales & use tax efficiently, which is critical in dealing with tax returns and statutory filings. The solution features a spreadsheet-like interface that tax professionals can navigate with ease. At the same time, it packs a unique database environment with tax-targeted features, unlike any other software.
It is a global product, customized for your regional needs.
How ONESOURCE Compliance & Reporting helps Indian corporations with a global footprint
ONESOURCE offers an intuitive platform which enables teams to deliver accurate estimates. They can trace back to the base level from consolidated amounts in just 2 clicks and easily share data with other applications. It speeds up direct tax obligations and requires minimal adoption time.
With ONESOURCE Indirect Tax solution, you can manage indirect tax calculation & compliance for businesses of any size. Enabling compliance for GST, VAT, Sales Tax, and Use tax for over 190 countries, it automates everything from ERP records to returns, cutting down filing time from several days to mere hours.
With ONESOURCE Statutory Reporting, the statutory financial reporting process can be centralized and standardized globally. The solution offers localization w.r.t. languages and regulations for every country, thus, enabling you to meet local compliances efficiently and effectively.
The road to increased efficiency, flexibility & control in global tax compliance
Prepare returns with automated workpaper generation, notes, cross-referencing & roll-forward processes.
The content is provided by Big 4 accounting firms and its quality & integrity can be trusted without a doubt.
Make manual adjustments to reports highlighting information relevant for tax analysis or management.
The tax return processes are standardized across the organization, around the globe.
Generated reports undergo transaction-level tests that tax authorities perform during audits.
Create & use need-based formulas or variables to link and reference.
Standardized workpapers allow you to maintain a record of accounting, procurement, and billing to return.
Schedules can be added to workpapers and customised to your requirements.
Stay updated on developments at every step of compliance with real time updates & analytics.
It was a perfect storm of tax challenges. Instead of being swept up in it, we decided to use it as a basis for transformation. We needed a single, global solution with a local focus.