Automate your practice with GoSystem Tax: Save time, risk, cost Thomson Reuters

GoSystem Tax RS from Thomson Reuters is best suited for mid-sized to larger firms that process complex returns for larger organizations and individuals. One of the earliest tax compliance solutions to offer a web-based solution, GoSystem Tax RS has … Completely web-based, GoSystem Tax RS offers an easily navigated user interface that supports multiple monitors and allows users to customize the system in order to display frequently used functions. The QuickTrack option allows users to easily navigate to frequently used organizer screens, and QuickForm provides users with a list of all major tax forms on a single screen, where users can then navigate to access the organizer screen they desire. GoSystem Tax RS is the go-to option for larger firms that routinely process complicated, multi-faceted returns for their clients. The system easily supports multi-preparers for a single return, and the extensive integration options with CS Professional Suite work to create a comprehensive application that can easily handle the most difficult return in a straight-forward manner.

New report shows opportunities and risks for tax professionals with GenAI

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. Tax return assembly & delivery automation for individual and entity returns, with a superior client experience. 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.

The product also integrates with Practice CS, Fixed Assets CS, and Planner CS, as well as NetClient CS. Integration with the optional Go-Tracker module allows users and administrators to log time, monitor vital fixed cost vs variable cost dates, set milestones, and track tasks, helping to improve overall firm workflow while also ensuring that a vital due date is not overlooked. For firms that wish to implement paperless solutions, GoSystem Tax RS offers seamless integration with third-party applications such as SurePrep and GruntWorx from Copanion offer automated creation of bookmarked PDF tax workpapers.

1. Easy integration with CS Professional Suite applications means that firms have access to an unlimited number (sold in bundles of 1,000) of base portals through NetClient CS for a flat monthly fee.
2. Process individual, corporate, and partnership returns with timesaving tools, such as the Allocation and Apportionment module.
3. Used by the top 100 CPA firms, Thomson Reuters GoSystem Tax RS is the market leader for corporate tax departments.

Review of GoSystem Tax RS – From Thomson Reuters

GoSystem Tax also offers individual tax filing and integrates well with the Thomson Reuters CS Suite of tax and accounting products. Used by the top 100 CPA firms, Thomson Reuters GoSystem Tax RS is the market leader for corporate tax departments. The software serves clients filing all return types — including multitiered consolidated corporate returns, life insurance returns (including mixed group filings), and tax equalization returns. Because all work is handled online, you’ll pay less in maintenance costs, face fewer storage issues, and rest easy with assured business continuance. 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.

Financial management

Electronic filing is available for federal and state forms, and the product easily handles multi-state returns. In addition, users can create an unlimited number of tax scenarios for their clients over any number of years, including both resident and nonresident tax liabilities. Easy integration with CS Professional Suite applications means that firms have access to an unlimited number (sold in bundles of 1,000) of base portals through NetClient CS for a flat monthly fee. Using the portals provides clients with access to tax returns and other confidential documents. It also allows clients to easily share confidential documents via the portal, making it much easier to obtain vital information from clients.

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. Cryptocurrency tax reporting software that streamlines the compliance workflow process.

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. 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. 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. GoSystem Tax RS has a minimalist approach, using intuitive user entry screens that are populated only with necessary features and functions.

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Both systems also allow users to import tax data directly into GoSystem Tax RS client returns. GoSystem Tax RS offers an excellent selection of help and support options, with users able to access help files from any screen in the application. A variety of online tools and resources are also available to users through the password protected website, including access to a robust user community.