Best Tax Software for Enterprises

Best Tax Software for EnterprisesWhen it comes to tax software, most people think of the solutions that generally get extensive advertising on television and radio, the kind that individuals with W-2s and a couple of dependents use to make sure their simple tax returns are filed accurately and on time. Thomson-Reuters ONESOURCE platform is not that font of solution. Rather, ONESOURCE is enterprise-grade software built for larger geschftlicher umganges with complex tax needs.After conducting extensive research, we recommend Thomson Reuters ONESOURCE as the best online tax software for complex corporate taxes. To learn mora about how we chose ONESOURCE, read the methodology on our best picks page.Why ONESOURCE?ONESOURCE tax software was designed from the ground up to handle the needs of large companies, including those that do business internationally and have incredibly complex tax situations. Small business owners and entrepreneurs would likely find that this offerings capabilities e xceed their needs and would be better served by our other best picks.For midsize corporations and larger businesses, we found ONESOURCE to be a comprehensive solution that can be tailored to fit your tax needs. Since it is customizable, with many features offered as add-ons to the base program, the price will vary based on what your companys taxes require. As a result, you will have to speak with a sales representative to determine how much ONESOURCE costs.Interface and benutzerfreundlichkeitOnce all the add-ons relevant to your companys specific situation are selected and youre ready to get started with your taxes, you will notice that ONESOURCEs central dashboard is well organized. The main screen contains a variety of applications, such as Corporate Tax, Accounting and Compliance, and Uncertain Tax Positions, which you can access to view different aspects of the tax filing process. Each application shares the information you upload with the other modules to eliminate repetitive d ata entry. Some applications focus on income tax, while others target indirect taxes or foreign taxes.There are many applications that can be integrated with ONESOURCE. Not only is there a program for Corporate Tax, but other tax compliance and reporting applications can be integrated into the overall ONESOURCE dashboard as well. For international companies, ONESOURCE includes integrations that maintain rules for over 180 different countries.The benefit of ONESOURCEs modular design is its scalability. If youre a midsize domestic corporation considering growing beyond the countrys borders, you can use the Corporate Tax application today and expand to include international capabilities whenever youre ready. We focused specifically on ONESOURCEs Corporate Tax application, but this module works in concert with the other available apps and shares data with them easily.FeaturesBelow are some of the features included in ONESOURCE. In plus-rechnen to supporting federal and state tax returns , Thomson-Reuters corporate tax platform comes with multiple features that easily organizes and shares data.Web-based ONESOURCE is a completely web-based application with support for multiple users accessing it from different devices. This makes it ideal for the corporate tax department that has many employees working on compliance and reporting. It is also secured with high-level encryption to protect your information.Foreign expertise State, federal and international tax compliance rules are all incorporated in ONESOURCE, so no matter where your business takes you, youll be covered.E-filing Like our other best picks, ONESOURCE supports e-filing your taxes with the appropriate agencies through an encrypted channel. It supports state, federal and international tax obligations.One-time data entry ONESOURCE shares data youve imported throughout the ordnungsprinzip with all the appropriate applications, so you only need to import it once.Excel workflows You can import data from Microso ft Excel spreadsheets directly into ONESOURCE.Audit manager In the event your company is audited, ONESOURCE has a built-in audit manager that will help you navigate the auditing process. Having your books scrutinized is never an easy process, but ONESOURCEs audit manager includes helpful tools and recommendations.Process management The workflow and process management features are essential when working within a relatively large department when several members of the team are working in the software simultaneously.AccuracyJust as small businesses need to ensure 100 percent accuracy with their annual tax returns, so do corporations. ONESOURCE emphasizes accuracy in its filings by combining up-to-date tax laws and global rates for both direct and indirect taxes. The program also employs powerful analytic software that helps review your filings to make sure they are correct. ONESOURCEs reporting tools ensure you are kept abreast of the entire process.It would be hard to find a more comp rehensive piece of corporate tax software than ONESOURCE. While intimidating at times to navigate for the average user, its broad applications are a big benefit when used to their fullest. The more sprawling and complex your business, the easier it is to run into a tax-related snag. ONESOURCE does a good job of mitigating that risk.Customer ServicePosing as a business interested in using ONESOURCE, we had a positive experience with the companys customer service. There was some waiting involved, but once we were connected, we spoke with an accommodating and knowledgeable customer service representative who took the time to explain numerous aspects of the ONESOURCE platform.While online support for ONESOURCE is available on a 24/7 grund through web chat, instructional videos, and online message boards, customer service by phone is only available from 7 a.m. to 7 p.m. CST. The company does, however, guarantee a response within 24 hours.LimitationsIts already been said in this review, b ut it bears repeating If you are a small business owner looking to file simple business taxes, ONESOURCE is not really geared for your needs. Its built to handle mid-sized businesses and up, and, as such, could only serve to further complicate your filing process. This software is really focused on complex tax needs and works best within a corporate tax department environment.Its also important to note that since this program is an enterprise piece of software, costs will be significantly larger than if you select an online tax platform with a small business plan that better fit your needs and budget.Already prepared to choose an online tax software application? Heres a breakdown of the rest of our coverageChoosing zugreifbar Tax Software for geschftliches miteinander A Buyers GuideBest Online Tax Software for geschftliches miteinander 2019Best Overall Online Tax Software Intuit TurboTaxBest Tax Software for Self-employed HR BlockBest Free Online Tax Software TaxActBest Online Tax S oftware for Tax Professionals Drake Tax Andrew Martins Andrew Martins is an award-winning journalist with a Bachelor of Arts in journalism from Ramapo College of New Jersey. Before joining business.com and Business News Daily, he wrote for a regional publication and served as the managing editor for six weekly papers that spanned four counties. Currently, he is responsible for reviewing tax software and online fax services. He is a New Jersey native and a first-generation Portuguese American, and he has a penchant for the nerdy. 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