ONESOURCE Indirect Tax Reporting 6 ONESOURCE Indirect Tax The Tax & Accounting Business of Thomson Reuters Presenter: Nick Vallely March 14, 2013
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ONESOURCE Indirect Tax Reporting 6ONESOURCE Indirect Tax The Tax & Accounting Business of Thomson Reuters
Presenter: Nick VallelyMarch 14, 2013
Upcoming Events• Webinars:
• March 21, 2013 - 10AM PT (2PM ET)– Managing Complex Indirect Taxation in Brazil’s Economic Renaissance
• April 4, 2013 – 10AM PT (2PM ET)– ONESOURCE Indirect Tax Sales Tax Update: April 2013
• Events:• March 19 – 22: SAP Financials
• March 17 – 20: TEI Mid-Year Conference 2013
• April 7 – 11: Oracle Applications User Group
http://tax.thomsonreuters.com/
REUTERS
Customer focusGlobal scale and presenceFinancial strength and stability
GLOBAL CAPABILITIES. LOCAL STRENGTH.
• Since formed in 2008 the Thomson Reuters brand is ranked 39 out of 100 in Global Brand Recognition.
• A recognized company• Look at last years annual report • 2010 Revenues:
US $13.1 Billion • 2010 Operating Profit:
$1.4 Billion
• Global presence to better serve multi-national corporations
• Over 50,000 employees in more than 100 countries
• Thomson Reuters is the world’s leading source of intelligent information for businesses and professionals
• We do this by investing in state of the art technology,
• designing solutions that integrate with customer workflows,
• and investing in people so that our solutions are designed by experts like you.
THE THOMSON REUTERS ADVANTAGE
BUSINESS OVERVIEW:ONESOURCE INDIRECT TAX
• Thomson Reuters formed the ONESOURCE Indirect Tax product line from 3 renowned brands to deliver an end-to-end automated solution for managing the indirect tax compliance lifecycle:
TAX DETERMINATION: Sabrix (Sabrix, Inc. acquired by Thomson Reuters in December 2009)
SALES & USE TAX COMPLIANCE: ONESOURCE Sales & Use Tax
VAT COMPLIANCE: Abacus VAT
INDIRECT TAX SOLUTION OFFERINGDOMESTIC
COMPLIANCEU.S. AND CANADA
GLOBALTAX
DETERMINATION
VATCOMPLIANCE
Sales & Use TaxCompliance
RegulatoryCompliance
Consulting
TaxCertificateManager
Reporting
Sales & Use Tax,VAT Determination
Calculation
Global Tax Content & Research
ERP Integrations(i.e. SAP, Oracle)
Consulting Services
Reporting
Data import and consolidation
Working papers and data analysis
Manual adjustments
Returns, eFiling and reconciliation
Today’s Speaker
Nick VallelySenior Product Manager
– Nick is a Senior Product Manager within ONESOUCRE Indirect Tax, currently responsible for collaborating with engineering colleagues to develop and implement solutions for the ONESOURCE Indirect Tax Reporting product. Nick is also responsible for gathering market requirements for new features and fixes for a variety of products within the ONESOURCE Indirect Tax offerings.
• Reporting Overview
• General Product Introduction Demo
• Reporting 6.3.0.0– ERP Reconciliation Process– Feature Demo
• Questions
AGENDA
REPORTING OVERVIEW
• Reporting offerings– Requires ONESOURCE Indirect Tax Determination– Cloud and On-Premise offering
• Business Intelligence architecture– SAP BusinessObjects Enterprise (report processing) – SAP BusinessObjects Data Services (data management)
• Reporting architecture– Crystal Reports
• Platform support and Documentation
REPORTING OVERVIEW
DEMONSTRATION
REPORTING 6.3.0.0: OVERVIEW
• General Availability: November 2012
• ERP Reconciliation Process
• Additional Details Report
• Additional Platform Support
• Defect Resolution
REPORTING 6.3.0.0: ERP Reconciliation Process
• Tax Professionals unable to easily compare data from different financial systems or ERP’s to Determination Audit Data
• Current manual comparison of document counts and amounts are tedious and introduce human error
• Reconciliation between different financial systems is necessary for proper returns and tax compliance
REPORTING 6.3.0.0: ERP Reconciliation Process
REPORTING 6.3.0.0: ERP Reconciliation Process
REPORTING 6.3.0.0: ERP Reconciliation Process
REPORTING 6.3.0.0: ERP Reconciliation Process• ETL to transfer data from ERP to Reporting
– Oracle ERP Reconciliation Extract 1.0.0.0 – SAP ERP Reconciliation Extract 1.0.0.0 (1st half 2013)– Custom Extract to CSV format (UserGuide)
• ERP Document Reconciliation Report– ERP Document Reconciliation Report to compare
• Invoices present in ERP, missing in Determination• Invoices present in Determination, missing in ERP• Invoices present in both but not an exact match
ERP RECONCILIATION PROCESS DEMONSTRATION
REPORTING 6.3.0.0 ADDITIONAL CHANGES• Knowledge Base Documentation
• Additional Detail Report– US Tax Authority Details Report
• Additional IE9 Support
• Defect Resolution– Proper identification of documents from multiple ERP sources– Universal date format for the Transaction Extract report– ONESOURCE CD Extract report and SQL Server 2005
Question & Answer
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