From the 2016 Reviews of Professional Tax Preparation Systems.
Best Firm Fit: Mid-sized and larger firms needing a comprehensive cloud-based professional tax system to manage complex, inter-related returns for large organizations and high net worth individuals.
- Highly scalable, with tight control over workflow processes
- Extensive integration with research, accounting and other systems
- Designed for use by teams of multiple preparers on complex returns
- Cloud-based system offers access anywhere/any time
- Advanced compliance of corporate insurance returns
GoSystem Tax RS offers a comprehensive, web-based tax compliance system for professionals. The program, which has been totally cloud-based since 1998, is generally designed for mid-sized and larger firms, but can fit the needs of any practice that serves clients with complex, multi-tiered consolidating and other advanced reporting requirements.
Core Product Functions/Features: 5 Stars
The GoSystem Tax RS system handle the most complex returns, including those requiring multiple tax departments or specialists to prepare. However, the system also offers many user-friendly capabilities. The system can be used for all federal and state tax forms (1040, 1041, 1065, 1120, 1120s, 706, 709, 990, 5500). Electronic filing is included for federal and all states, and the system easily handles multi-state returns.
The web-based system opens within a user’s browser, with multiple monitor support, providing highly customizable interfaces that allow users to tailor the system to show their most-needed functions, as well as news and research topics pertinent to their clients. Customization options also include creation of client communications. Data entry forms are intuitive, with users having the option of form-based entry, or on entry screens that follow tax flow format. Navigation and user-experience remain consistent across all types of forms. Users have easy access to related forms, schedules and worksheets from an ever-present side menu.
GoSystem Tax RS can be easily scaled or ramped up to meet growing staff needs, but the system is not generally a good fit for firms that rely on temporary seasonal staffing, since it does require some training or time to grow proficient with. The multi-user capabilities in the system allow several staff members to access and work within a return at the same time, allowing specialists to work concurrently, while overwrite protections prevent errors.
The program includes extensive diagnostic tools and provides guidance and instructions on correcting rejected returns. Only offered as a web-based system, GoSystem Tax RS has substantial security protocols and user access rights built into the system, as well as continual data backups on Thomson Reuters’ secure servers.
Integration Options: 4.75 Stars
Integration options are numerous, such as the GoSystem Tax RS Excel Add-In utility, which lets users push mapped financial data directly into client returns from Excel. The system also supports data transfer to and from other client accounting programs via .DIF-formatted files.
The system also offers direct integration with other Thomson Reuters programs, including Fixed Asset CS, Planner CS, import of trial balance information from Write-Up CS, Accounting CS and Engagement CS. It integrates with GoFileRoom and FileCabinet CS for document management capabilities. Integrations are also offered for transferring data from the EMC Documentum, BNA and Intacct systems. Deep integration with the Checkpoint research platform and PPC Deskbooks is available.
Paperless Workflow: 5 Stars
GoSystem Tax RS includes may features that streamline tax processes, including the ability to create workflows and checklists that follow a firm’s best practices model. The system also is designed so that paper processes are minimal, with e-filing included for all entities that the IRS accepts them from, and also to states. Tax data is automatically shared between inter-related returns, such as K-1 and Kiddie Tax information. The system is the most comprehensive when it comes to Ex-Pat taxation, with more than 20 templates for calculations, equalization and recalculations at the state and federal levels.
For paperless tax automation, firms using GoSystem Tax RS can use SurePrep or GruntWorx. Which offer automated creation of bookmarked PDF tax workpapers. Tax data can also be imported into client returns from within these systems.
Remote Capabilities: 4.75 Stars
The completely web-based system offers the benefits of anytime/anywhere access when they have connectivity, and the system also offers tools for working on client files when there is no connectivity. The client data files are automatically synced when back online. There are no apps for the program designed for small mobile devices such as cell phones.
Help/Support – 5 Stars
GoSystem Tax RS provides intuitive help functions within the program, and users have access to several online resources, including a searchable help knowledgebase, user guides, videos, online user forums, and email and web-based support. Live technical assistance is included and available via phone or in-product guidance.
Summary & Pricing
GoSystem Tax RS continues to be the most comprehensive cloud-based tax system for firms with multi-preparer workflows and complex clients. That comes at a premium, but one which firms will with such needs will find worth the investment. Pricing is based on many factors, with a single-user version starting around $4,000 per year.
2016 Overall Rating: 5 Stars
See inside April 2016
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