ABSOLUTE CONTROL OVER TAX PROVISION AND REPORTING

Designed to help Tax professionals boost efficiency levels and minimise risks, Thomson Reuters' tax software solutions take the strain out of managing tax-effect accounting, tax compliance obligations and group tax planning.

In addition to automating every step of the tax provisioning and reporting processes, our robust platform works as a tax knowledge base through features such as built-in instruction, review notes, and comments areas.

You can attach files and add your own 'free-form' statements, including links and formulas for providing additional information, key to generating greater audit trails.

"Thomson Reuters tax software has been instrumental in enabling Woolworths to manage its tax compliance efficiently. Being able to download account details directly from our year-end reporting systems into Thomson Reuters tax software saves us substantial time at the busiest times of the year."

- Jason Broome, Taxation Manager, Woolworths Limited

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Your Needs Our Solutions

Consistent set of comprehensive tax workpapers	Best practice workpapers Protected and formatted schedules Online comments/review notes – print ready Integrated workpapers between tax provision and tax return calculations
Preparation of tax effect accounting calculations	IFRS compliant - (NZ-IAS12) Balance sheet approach
Regular reporting	Ability to report monthly, quarterly, half yearly, yearly, or at other desired times
Automatic population of ATO forms	Re-use your tax provision work to start the tax return work Prints out standard ATO forms in PDF format Ability to update and print out forms multiple times
Consolidation of group position	Ability to consolidate calculations Allows consolidation from business unit, cost centre or legal entity Ability to consolidate multitier groups
Consolidation of group position	Ability to consolidate calculations Allows consolidation from business unit, cost centre or legal entity Ability to consolidate multitier groups
Automatic upload of general ledger data into calculations to save time and reduce the risks inherent in manual entry	Upload trial balance data, fixed assets and other reports directly from Financial Systems Import data for any period, at any time
A central repository for tax data (e.g. 'Where is my spreadsheet?')	Stores tax-specific financial and non-financial data in an organised format Stores other supporting financial information (Excel spreadsheets, Word documents, PDF files)
Sharing/Reviewing calculations	Calculations can be sent to other software users for review All reports can be saved as Excel files for distribution to non-software users Easy online review and the option of collaborative use with your professional advisors / agents
Group structure and reporting entity maintenance	Ability to generate multiple group structures Keeps track of current and previous group structures
Prior period data	Past years closing balances are automatically rolled forward Calculations for multiple years can be opened/accessed to review
Clear audit trails	Extensive reports, cross-references, links and drill-down capability to easily visualise where all your key numbers have come from