onesource indirect tax certificate manager: optimizing ... · • march 7, 2013 - 10am pst (2pm...
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ONESOURCE Indirect Tax Certificate Manager: Optimizing Your Exemption Certificate ProcessONESOURCE Indirect Tax The Tax & Accounting Business of Thomson Reuters
Presenters: Carl Davis, Dan LemkeFebruary 28, 2013
Upcoming Events• Webinars:
• March 7, 2013 - 10AM PST (2PM EST)– Surviving a Sales Tax Audit – An Insider’s View
• March 14, 2013 – 10AM PST (2PM EST)– ONESOURCE Indirect Tax Reporting 6
• March 21, 2013 - 10AM 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
http://tax.thomsonreuters.com/events/REUTERS
Customer focusGlobal scale and presenceFinancial strength and stability
GLOBAL CAPABILITIES. LOCAL STRENGTH.
• 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 presence to better serve multi-national corporations
• Over 50,000 employees in more than 100 countries
• 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,
• designing solutions that integrate with customer workflows,
• and investing in people so that our solutions are designed by experts like you.
THE THOMSON REUTERS ADVANTAGE
BUSINESS OVERVIEW:ONESOURCE INDIRECT TAX
• Thomson Reuters formed the ONESOURCE Indirect Tax product line from 3 renowned brands to deliver an end-to-end 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
INDIRECT TAX SOLUTION OFFERINGDOMESTIC
COMPLIANCEU.S. AND CANADA
GLOBALTAX
DETERMINATION
VATCOMPLIANCE
Sales & Use TaxCompliance
RegulatoryCompliance
Consulting
TaxCertificateManager
Reporting
Sales & Use Tax,VAT Determination
Calculation
Global Tax Content & Research
ERP Integrations(i.e. SAP, Oracle)
Consulting Services
Reporting
Data import and consolidation
Working papers and data analysis
Manual adjustments
Returns, eFiling and reconciliation
Today’s Speaker
CARL DAVISSR 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
Today’s Speaker
DAN LEMKEProduct Manager
• Responsible for Determination & Tax Certificate Manager
• Background in Customer Support & Consulting at Thomson Reuters
Today’s Agenda
• Exemption Certificate Lifecycle
• Features
• Managing Customer Data
• Certificate Data
• Custom Reports & Mail Merge
• Form Validation
• Question and Answers
REUTERS
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
Exemption Certificate Lifecycle
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
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
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
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,
Email, Address 1-4, City, State, Postal Code and Country– Custom fields specific for Contacts
• Methods to create contacts– Enter through UI– Mass Import
COMPANIES, CUSTOMERS AND CONTACTS
DEMONSTRATION
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
CERTIFICATE ENTRYDEMONSTRATION
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
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 email– Email output requires email SMTP information in Application
Settings
CUSTOM REPORTS AND MAIL MERGE
DEMONSTRATION
Reports Screen Shot
Report Samples
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
Form Validation (continued)
Question & Answer
