Remote Data Collection

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Events

  • Webcasts
    • 11/24/2009
    • During this webcast, we will discuss walk you through how ONESOURCE TaxStream Provision can automate, configure and tie out the reports needed for your 10K footnote. Learn more about the components and configurability of the Effective Rate Reconciliation, Deferred Balance Roll-forward, Foreign Domestic Summary and Payable Roll-Forward.
    • Generating and Tying Out ONESOURCE TaxStream Provision Footnote Reports
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    Training
    • 11/23/2009
    • This class is focused on the state function ranging from data input to migrating from a blended state to a more detailed state by state output. Included is a review of the state reports as well as discussion on state specific issues and adjustments.
    • States Overview
    More Training Events

Remote data collection and consolidation is one of the most critical parts of the tax provision process. Where the needed tax information resides outside of the corporate tax department, managers must pull this data from various sub-systems and then consolidate it into the overall tax provision. Often, corporate tax departments have little more than spreadsheets to gather this data, convert it to a common currency and load it into the tax provision software. This process can slow down and complicate the preparation of the tax provision.

The ONESOURCE TaxStream Provision web-based remote data collection module allows remote users to log in over the web, and follow a simple, step-by-step process to enter in their local tax provision information in local currency. The data flows automatically into ONESOURCE TaxStream Provision’s database and generates the foreign tax provision reports in real time, displaying the results in local and reporting currencies. Sign-off and user controls allow for extensive foreign work-flow automation.

The ONESOURCE TaxStream Provision remote data collection module allows large, multinational corporations to fully streamline and optimize their tax process, both foreign and domestic.

View ONESOURCE TaxStream Provision remote data collection brochure

Remote Data Collection from ONESOURCE TaxStream Provision provides:

  • Simplified Remote Data Collection - Facilitate accurate data collection from foreign sources with ONESOURCE TaxStream Provision's simple, step-by-step, data gathering process.
  • Real-Time Data Collection - 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.
  • Workflow Automation and Controls - ONESOURCE TaxStream Provision allows for multiple levels of sign-off, 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 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 and entity basis.
  • Customization - Upload customized instructions and questionnaires in multiple languages. Customize the module to suit the needs of any corporate tax department or remote tax preparer.