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Product & Service Guide

2020 Review of GoSystem RS Tax

GoSystem Tax RS from Thomson Reuters is part of the CS Professional Suite of applications. A good fit for larger accounting firms as well as corporate tax departments, GoSystem Tax RS is equipped to handle the complex corporate returns, life insurance ...

Thomson Reuters

GoSystem Tax RS – Thomson Reuters

https://tax.thomsonreuters.com/cs-professional-suite/gosystem-tax-rs/

From the 2020 reviews of professional tax preparation systems.

GoSystem Tax RS from Thomson Reuters is part of the CS Professional Suite of applications. A good fit for larger accounting firms as well as corporate tax departments, GoSystem Tax RS is equipped to handle the complex corporate returns, life insurance returns, and tax equalization returns, easily handling individual returns as well. Available exclusively online, GoSystem Tax RS was one of the pioneers of online tax compliance, with firms able to access the application using an online virtual office or as a SaaS application. The product also works offline, with data synching with the core application upon reconnection.

GoSystem Tax RS has a minimalist approach, using intuitive user entry screens that are populated only with necessary features and functions.  GoSystem Tax RS makes good use of tax organizers, allowing users to access the client organizer or the tax forms. The QuickTrack feature offers access to organizer details, with a series of links available for quick access to a particular area within the organizer.

Users can also navigate directly to a specific form using the QuickForm feature, with links available to choose from numerous form options. Once a return is completed, users have the option to preview the return for errors or omissions. GoSystem Tax RS supports multiple monitors, making it easy to view various sections of a return simultaneously. If errors are found, corrections can be made directly in the organizer, with the option to refresh the return to reflect the changes.  Those using Thomson Reuters GoFileRoom or FileCabinet CS can automatically save the completed return directly without leaving the application.

GoSystem Tax RS also features an automatic calculation option, allowing users to view return calculations as information is entered with an option to turn the feature off if desired.

While GoSystem Tax RS is best suited for handling complex returns, firms can use the application to prepare individual returns as well. The application currently supports federal, state, and local tax forms including 1040, 1041, 1042, 1042S, 1065, 1120, 990, 706/709, along with related Payroll, U.S. Territories, Canadian, Pension, and Election Statements. Product updates are issued daily during tax season, so users will always have access to the most current tax data available. In addition, GoSystem Tax RS includes a custom tax equalization module designed to handle expatriate calculations, with the module offering more than 20 templates, 11 equalization statement formats, and gross up calculations for numerous states including AZ, CA, CO, CT, DC, DE, GA, IL, KY, LA, MA, MD, MI, MN, NC, NJ, NM, NY, OH, OK, PA, and SC.

GoSystem Tax RS supports both federal and state e-filing, with users able to review, edit, and validate any completed return prior to e-filing. GoSystem Tax RS supports multiple users, making it easy for a team to work on a return simultaneously. Diagnostic messages are available throughout the application and users can click on any line in a completed return to view a complete audit trail for the amount entered.  

GoSystem Tax RS does not currently offer a portal directly within the application, though it does integrate with the NetClient CS Portal. The portal offers easy document exchange between clients and firms, with clients provided secure access to the portal, where they can upload or download documents at any time. Data importing options are also outstanding in GoSystem Tax RS, with users able to import data from just about any accounting system. A variety of data can be imported including a trial balance, a client organizer, and tax forms.  

GoSystem Tax RS offers complete integration with other CS Professional Suite applications which include Accounting CS, Workpapers CS, Trial Balance CS, Write-Up CS, and both FileCabinet CS, and GoFileRoom, mentioned earlier. Other integrations include AdvanceFlow, a cloud-based audit management application along with Practice CS, Fixed Assets CS, and Planner CS, which allows user to create multiple tax strategies for their clients in order to minimize tax liability.

GoSystem Tax RS also integrates with a variety of third-party applications which include EMC Documentum, SurePrep, and Copanion, which all use OCR processing technology. The application also offers seamless integration with QuickBooks products as well as GoTracker, an add-on application that logs time, monitors due dates, and sets customizable milestones and tasks for system users for improved workflow capabilities. Integration with Checkpoint, PPC Deskbooks, and Partner Bridge is also available.  

GoSystem Tax RS offers an excellent selection of help and support options, with users able to access help files from any screen in the application. A variety of online tools and resources are also available to users through the password protected website, including access to a robust user community. Users can also utilize the Help and How-To Center for access to a searchable knowledgebase as well as the GoSystem Tax RS support page, which includes access to product updates and new releases, as well as detailed user training information. Users can contact support via the help page or by using the toll-free number.  

GoSystem Tax RS is best suited for larger firms or corporate tax departments who are tasked with preparing complex tax returns for a variety of clients. The application also offers top-notch integration with other CS Professional Suite applications that increase functionality tremendously. GoSystem Tax RS pricing is customized for each firm, starting at around $4,000 annually for a single-user system.

2020 Rating: 5 Stars 

Product Strengths:

  • Can handle both simple and complex returns
  • Intuitive, uncluttered user interface
  • Excellent integration with other Thomson Reuters applications

Potential Limitations:

  • Not a good fit for firms that primarily prepare individual returns