Thomson Reuters Launches ONESOURCE for its Sales & Use Tax Customers

The Integration of Products and Services Enables Corporate Tax Departments to Drive Overall Compliance Functionality through a Single Platform

The Tax & Accounting business of Thomson Reuters announces the release of ONESOURCE for Sales & Use Tax Managed Services. ONESOURCE is a portal application that will put customers in control of their data and better equip them to manage tax department workflows.

ONESOURCE Sales & Use Tax Managed Service clients will experience increased data management and transfer functionality, higher visibility and control of the service engagement, and enhanced reporting functionality – all through the new Web application. Over time, additional sales and use tax management gadgets will be incorporated into ONESOURCE to further enhance overall control and functionality.

“ONESOURCE will change the game for Sales & Use Tax by providing our customers with more flexibility, control, and visibility into their compliance service engagements" said David Clapp, senior vice president & general manager of ONESOURCE Sales & Use Tax for Thomson Reuters. “From their desktop, customers will have the ability to quickly and easily submit their data files, review tax returns and payments that we’ve submitted on their behalf, access key sales tax information, run reports, and even monitor actions that we’ve taken on their behalf with jurisdictions. In real time, the new ONESOURCE Web application will also serve as the platform through which we provide a steady stream of new gadgets and functionality as we continue to create new solutions for Sales & Use Tax.”

Initially, ONESOURCE Sales & Use Tax gadget functionality will include:

• Data File Upload
• Data Reconciliation and Variance Reporting
• Tax Liability Analysis Data, Charts and Heat Map
• Notice Management Status and Detail
• Vendor Compensation Data
• Standard Management Reports

“ONESOURCE will help our clients drive their corporate tax departments by providing seamless integration across tax and accounting applications. It improves the workflow in the department and brings staff functions together in a way never seen before" said Mike Knighton, vice president of Corporate Workflow Tools for Thomson Reuters. “I’m excited about launching ONESOURCE for our Sales & Use Tax customers and expanding the new application for use with all of our corporate tax customers as we progress throughout the year.”

To learn more about Sales & Use Tax functionality on ONESOURCE, visit http://onesource.thomsonreuters.com/salesanduse or call 800-865-5257.

About Thomson Reuters
Thomson Reuters is the world’s leading source of intelligent information for businesses and professionals. We combine industry expertise with innovative technology to deliver critical information to leading decision makers in the financial, legal, tax and accounting, scientific, healthcare and media markets, powered by the world’s most trusted news organization. With headquarters in New York and major operations in London and Eagan, Minnesota, Thomson Reuters employs more than 50,000 people in 93 countries. For more information, go to www.thomsonreuters.com.

The Tax & Accounting business of Thomson Reuters is the leading provider of technology and information solutions, as well as integrated tax compliance software and services to accounting, tax and corporate finance professionals in accounting firms, corporations, law firms and government. Tax & Accounting includes the Corporate Software & Services, Professional Software & Services, and Research & Guidance business groups.