ONESOURCE Indirect Tax Certificate Manager: Optimizing Your Exemption Certificate Process

Transcription

1 ONESOURCE Indirect Tax Certificate Manager: Optimizing Your Exemption Certificate Process ONESOURCE Indirect Tax The Tax & Accounting Business of Thomson Reuters Presenters: Carl Davis, Dan Lemke February 28, 2013

2 Upcoming Events Webinars: March 7, AM PST (2PM EST) Surviving a Sales Tax Audit An Insider s View March 14, AM PST (2PM EST) ONESOURCE Indirect Tax Reporting 6 March 21, AM PST (2PM EST) Managing Complex Indirect Taxation in Brazil s Economic Renaissance Events: March 19 22: SAP Financials March 17 20: TEI Mid-Year Conference 2013 April 7 11: Oracle Applications User Group REUTERS

3 THE THOMSON REUTERS ADVANTAGE GLOBAL CAPABILITIES. LOCAL STRENGTH. Financial strength and stability 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 scale and presence Global presence to better serve multinational corporations Customer focus 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, Over 50,000 employees in more than 100 countries designing solutions that integrate with customer workflows, and investing in people so that our solutions are designed by experts like you.

4 BUSINESS OVERVIEW: ONESOURCE INDIRECT TAX Thomson Reuters formed the ONESOURCE Indirect Tax product line from 3 renowned brands to deliver an end-toend 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

5 INDIRECT TAX SOLUTION OFFERING DOMESTIC COMPLIANCE U.S. AND CANADA Sales & Use Tax Compliance GLOBAL TAX DETERMINATION Sales & Use Tax, VAT Determination Calculation VAT COMPLIANCE Data import and consolidation Regulatory Compliance Global Tax Content & Research Working papers and data analysis Consulting Reporting Reporting ERP Integrations (i.e. SAP, Oracle) Manual adjustments Consulting Services Returns, efiling and reconciliation Tax Certificate Manager

6 Today s Speaker CARL DAVIS SR Manager of Product Management Responsible for guiding vision & roadmap Collaborate to Document market needs for overall design and implementation of the software solutions 7 years Product Management experience and 10 years prior experience at a global financial software company Bachelor of Science degree in Economics from Portland State University

7 Today s Speaker DAN LEMKE Product Manager Responsible for Determination & Tax Certificate Manager Background in Customer Support & Consulting at Thomson Reuters

8 Today s Agenda Exemption Certificate Lifecycle Features Managing Customer Data Certificate Data Custom Reports & Mail Merge Form Validation Question and Answers REUTERS

9 TAX CERTIFICATE MANAGER Poor or nonexistent exemption certificate management is recognized as the leading cause of audit exposure for today s corporate tax department Increases efficiency in all aspects of the burdensome, exemption-certificate lifecycle Reduces operating costs, mitigating risk, and increasing accuracy Reduces audit exposure and assessments Empowers you with full control of the exemption certificate process to maintain SOX compliance

10 Exemption Certificate Lifecycle

11 Features Companies Certificates Users Custom Reports Customers Exporters Contacts Mail Merge Background Processes External Customer Link Instances Mass Import Custom Forms Form Validation Content Drop Shipments Custom Properties CA State Form Validation

12 Customer Data - Companies Enables you to associate customers and certificates with a company or legal entity Create as many companies as necessary based on your business requirements Companies include fields to track the demographics of a legal entity Company Code, Name, Address 1-4, City, State, Postal Code, Country, Phone Number, Fax Number Restrict user permissions by company

13 Customer Data - Customers Enables you to create one or more certificates per customer A customer is always associated with a single Company A customer can contain one or many contacts Contacts & addresses can be added through the UI or by mass import Secondary addresses can be added to track other locations for the customer, (e.g. different store locations, plant locations, etc.) Methods to create customers Enter through UI Mass Import External Customer Link

14 Customer Data - Contacts Enables you to create one or more contacts per customer Communicate to your contacts through the mail merge to Collect initial certificates Inform of certificate expirations or renewals Record the following information per each contact Title, First Name, Last Name, Phone Number, Fax Number, , Address 1-4, City, State, Postal Code and Country Custom fields specific for Contacts Methods to create contacts Enter through UI Mass Import

15 DEMONSTRATION COMPANIES, CUSTOMERS AND CONTACTS

16 Certificate Data Create certificates Through the Search or Create Certificates UI Mass Entry Mass Import Assign Jurisdiction and Type Associate Customers, Products, Dropship states, Rates, Images and Notes with a certificate View a sample of the certificate form Identify the Certificate as Valid and/or Active Calculated Effective Date is based on Date Received Calculated Expiration Date is derived by certificate s content Mass update certificates using the Search feature

17 DEMONSTRATION CERTIFICATE ENTRY

18 Custom Reports Base custom reports on customers or certificates Allows you to choose the columns you want on the report Optional filter criteria Output to CSV, XLSX or HTML file types Run reports manually or automatically on a schedule

19 Mail Merge Two types of Mail Merge Templates User defined in TCM Import Microsoft Word document as basis for mail merge template Use TCM fields in mail merge template and output Requires TCM Report that merges data to provide the output Establish criteria to filter output of mail merge Merge output directly to a file or to the contact s output requires SMTP information in Application Settings

20 DEMONSTRATION CUSTOM REPORTS AND MAIL MERGE

21 Form Validation Tax research provides certificate forms content on a quarterly basis Clients can create custom forms either from scratch or by cloning and editing existing forms as their business requires Both Thomson Reuters provided forms and custom forms can have custom validation levels Forms content can be imported/exported between instances of the same version

22 Form Validation (continued)

23 Question & Answer

24 Contact Information Contact us (888)