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Paperless Engagements

Thomson Reuters — FileCabinet CS

From the July 2009 Feature Article on Tax
Document Automation

FileCabinet CS is a document management solution primarily designed for integration
with the Thomson Reuters CS Professional Suite. In addition to document storage
and management features that include paperless management, integration with
accounting and tax programs, management tools and reporting functions, FileCabinet
CS also offers an additional service called Source Document Processing that
provides automated form identification and data extraction capabilities.

Source Document Processing includes OCR processing functions that allow users
to scan client source materials and transmit them to the secure Thomson Reuters
data center, where the documents are turned into PDF files and labeled and grouped
by form type. The system also extracts client data and presents it in a review
format that lets users verify the accuracy of information and then transfer
the data into a client’s 1040 in UltraTax CS. Source Document Processing
costs $12.50 per client return, regardless of the number of forms scanned and
organized by the system.

FileCabinet CS also provides good storage and management functions, and its
integration with the other programs in the CS Professional Suite can give a
significant productivity boost to many firms.

Forms Identified: W-2, W-2G, 1099-INT, 1099-DIV, 1098, 1099-R,
1099-MISC, 1099-G, 1099-B, 1099-Q, 1099-C, 1099-LTC, SSA-1099, RRB-1099, 1098-E,
1098-T, and 2439

Organized PDF Workpaper Compilation: Yes, but saved as individual
files that are organized and labeled by form type.

Automatic Data Population into Tax Programs: Yes, into UltraTax