ONESOURCE TAX PROVISION

 

STREAMLINE DATA ANYTIME, ANYWHERE

With the latest version of the Global Access (formerly iTaxStream) module of ONESOURCE Tax Provision (formerly TaxStream), you'll have all the critical information and analytical tools you need at your fingertips.

This truly global web-based solution enables remote users to log in and follow a simple, step-by-step process to enter in local tax provision information. The data flows automatically into ONESOURCE Tax Provision's database and generates the foreign tax provision reports in real time, displaying the results in local and reporting currencies. Multiple levels of review are possible with sign-off and user controls to enable extensive foreign work-flow automation and user controls.

The Global Access module of ONESOURCE Tax Provision provides:

  • Multilingual Functionality - Choose from several of the most popular languages used by the global user base, including French, Spanish, and German.
  • Simplified Remote Data Collection - Facilitate accurate data collection from foreign sources with ONESOURCE Tax Provision's simple, step-by-step, data gathering process.
  • Real-Time Data Review - Tax information entered by foreign controllers flows to the corporate tax database in real time. 
  • Currency Translation & Rate Changes - Data is gathered and entered in local currency and translated to reporting currency using the appropriate exchange rates. Currency translation adjustments are automatically generated and posted. Changes in foreign statutory rates are tracked and appropriately affected throughout the system on both a P&L and balance sheet basis. The currency translation adjustment and the change in rate are isolated in separate columns on the reports. 
  • Work-flow Automation and Controls - ONESOURCE Tax Provision allows for multiple levels of sign-off such as, automating the work-flow from preparer to reviewer to auditor. Data can be automatically locked down at any point in the sign off process and instant email notifications help improve workflow efficiency. Limit exactly which accounts, entities, and time periods can be accessed by which remote user. 
  • Documentation Database - Allow foreign controllers to attach documents in any format supporting their data. Store all documentation in one consolidating database. 
  • Consolidation - Automate global consolidation, and generate real-time reports on a consolidated, sub-consolidated and entity basis. 
  • Configuration - Upload customized instructions and questionnaires in multiple languages. Configure the module to suit the needs of any corporate tax department or remote tax preparer.