GoSystem Tax RS offers complete integration with other CS Professional Suite applications which include Accounting CS, Workpapers CS, Trial Balance CS, Write-Up CS, and both FileCabinet CS, and GoFileRoom, mentioned earlier. Other integrations include AdvanceFlow, a cloud-based audit management application along with Practice CS, Fixed Assets CS, and Planner CS, which allows user to create multiple tax strategies for their clients in order to minimize tax liability. A good fit for larger accounting firms as well as corporate tax departments, GoSystem Tax RS is equipped to handle the complex corporate returns, life insurance … GoSystem Tax RS also integrates with a variety of third-party applications which include EMC Documentum, SurePrep, and Copanion, which all use OCR processing technology. The application also offers seamless integration with QuickBooks products as well as GoTracker, an add-on application that logs time, monitors due dates, and sets customizable milestones and tasks for system users for improved workflow capabilities.
Data & document management
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. 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.
Unlocking productivity: How AI is transforming tax and accounting firms
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. “People gravitate to what they’re comfortable with, much like accountants gravitate to Excel. So, success (in automation) is 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.
GoSystem Tax also offers individual tax filing and integrates well with the Thomson Reuters CS Suite of tax and accounting products. GoSystem Tax offers an intuitive user interface with the ability to customize the interface to better suit their needs. Easy access is provided for all tax organizers, and the product supports multiple monitors for easy form preparation. GoSystem Tax RS is best suited for larger firms or corporate tax departments who are tasked with preparing complex tax returns for a variety of clients. The application also offers top-notch integration with other CS Professional Suite applications that increase functionality tremendously.
GoSystem Tax RS revenue recognition principle does not currently offer a portal directly within the application, though it does integrate with the NetClient CS Portal. The portal offers easy document exchange between clients and firms, with clients provided secure access to the portal, where they can upload or download documents at any time. Data importing options are also outstanding in GoSystem Tax RS, with users able to import data from just about any accounting system. A variety of data can be imported including a trial balance, a client organizer, and tax forms.
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 5 best practices for small business record 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 offers solid help functionality, with help options available directly from the user interface.
What you get with our professional income tax software
Along with the Thomson Reuters applications mentioned above, GoSystem Tax RS also integrates with a variety of third-party applications such as EMC Documentum, SurePrep, and Copanion, which all use OCR processing technology. Users can also easily access research content from applications such as Checkpoint, PPC Deskbooks, and Partner Bridge. GoSystem was one of the first tax compliance software applications to offer an online accessible tax compliance application, with firms able to choose accessibility through an online virtual office or to access GoSystem Tax RS as a SaaS application.
- Users can click on any line in the tax form to display an audit trail for the amount represented.
- Protect your data with multiple layers of security, including network security, virus protection, encryption schemes, and more.
- Process individual, corporate, and partnership returns with timesaving tools, such as the Allocation and Apportionment module.
- 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.
- Completely online, GoSystem Tax has an intuitive user interface that is easily navigated, and offers easy access to organizers, as well as multiple views.
GoSystem Tax RS is designed to handle more complicated returns, allowing multiple system users to access a single return concurrently. The product also offers a custom tax equalization module that is designed to handle expatriate calculations. The tax equalization module includes more than 20 templates, 11 equalization statement formats, and gross up calculations for a variety of states including AZ, CA, CO, CT, DC, DE, GA, IL, KY, LA, average collection period formula how it works example MA, MD, MI, MN, NC, NJ, NM, NY, OH, OK, PA, and SC.
Berkowitz Pollack Brant found significant improvements to efficiency by creating processes which reduced or removed the need for this kind of repetitive, manual data entry. Tackle the most complex tax returns, such as multitiered consolidated return processing for corporations and partnerships. GoSystem Tax does not include a portal, but firms can choose to utilize the NetClient CS Portal, which is part of the CS Professional Suite of applications that seamlessly integrate with the application. The NetClient CS Portal allows firms to share returns with clients, as well as providing clients with the ability to upload necessary documents when requested. GoSystem Tax RS also features an automatic calculation option, allowing users to view return calculations as information is entered with an option to turn the feature off if desired.