2018 Review of GoSystem Tax RS From Thomson Reuters

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. GoSystem Tax RS is optimally designed for mid-sized to larger accounting firms that handle a variety of complex returns for their clients. With extensive integration capability with CS Professional Suite along with various third-party applications, users have access to the data and documentation needed to easily process even the most complicated return. GoSystem Tax RS pricing is customized for each firm, starting at around $4,000 annually for a single-user system.

Review of GoSystem RS Tax

Users can also utilize the Help and How-To Center for access to a searchable knowledgebase as well as the GoSystem Tax RS support page, which includes access to product updates and new releases, as well as detailed user training information. GoSystem Tax reversing entries RS supports both federal and state e-filing, with users able to validate returns prior to e-filing. Another handy feature is the ability to click on any line on a completed tax form to display an audit trail for the amount displayed.

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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. 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. Data is collected, calculations are done, and then the data from the Excel workbook must be manually re-entered into GoSystem Tax RS,” said Walker.

Available exclusively online, GoSystem Tax RS was one of the pioneers of online tax compliance, with firms able to access the application using an online virtual office or as a SaaS application. The product also works offline, with data synching with the core application upon reconnection. 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. The QuickTrack feature allows users to easily access frequently used organizers and the QuickForm option offers easy access to all major tax forms. Used by the top 100 CPA firms, Thomson Reuters GoSystem Tax RS is the market leader for corporate tax departments.

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GoSystem Tax RS offers solid help functionality, with users able to access help directly from any user interface screen. There are a variety of online tools and resources available including an online community, where users can share information and ask questions of fellow users. Users can also access product support via the support page, or by using the toll-free number provided. GoSystem Tax RS does not offer a portal, but the product offers easy integration with the NetClient CS Portal, part accounting for startups: the ultimate guide of the CS Professional Suite of applications. The NetClient CS Portal allows firms to share returns with clients, with clients provided with secure access to the portal, where they can upload source documents and other related information. Data can also be imported directly to the application from a variety of applications if necessary.

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The program also includes diagnostic messages that help to pinpoint return inconsistencies and errors. An auto-compute feature is also available that allows users to easily view results as data is being entered into the system. GoSystem Tax RS supports both federal and state e-filing, with users able to review, edit, and validate any completed return prior to e-filing. GoSystem Tax RS supports multiple users, making it easy for a team to work on a return simultaneously. Diagnostic messages are available throughout the application and users can click on any line in a completed return to view a complete audit trail for the amount entered.

1. Electronic filing is supported in GoSystem Tax, with both federal and state e-filing available.
2. The GoSystem Tax APIs enable firms to automate tax workflow processes related to e-Filing, printing, and importing/exporting tax return data.
3. Those using Thomson Reuters GoFileRoom or FileCabinet CS can automatically save the completed return directly without leaving the application.
4. GoSystem Tax also offers individual tax filing and integrates well with the Thomson Reuters CS Suite of tax and accounting products.

See how GoSystem Tax RS provides a sophisticated web-based system that provides the power to handle your most complex tax scenarios. 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. 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, is it better to buy a freehold or a leasehold virus protection, encryption schemes, and more. “People gravitate to what they’re comfortable with, much like accountants gravitate to Excel.

Diagnostic messages are also available in the application and users can easily view processing results as they are entered using the auto-compute feature. Electronic filing is supported in GoSystem Tax, with both federal and state e-filing available. Users can click on any line in the tax form to display an audit trail for the amount represented.