International Data Management Solution

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Solutions to Specific Challenges

Chances are your company distributes a Microsoft® Excel-based tax package to collect information needed to complete Forms 5471, 8865, and 8858 for your federal income tax returns. Challenges arise when the tax package is completed by respondents from locations scattered throughout the world.

Tax departments struggle to maintain adequate control around the status of submissions, the versioning of multiple packages sent in by individual respondents, the accuracy of data transcribed from each individual submission, and the completeness of the data reported.

Here's just some of the ways the International Data Management Solution of ONESOURCE Income Tax can help:

Solving...Change Management and Version Control

The Challenge:

You need to make a change to your tax package after it has been distributed to the field. You have to change the original spreadsheet, make copies, redistribute the new version to all affiliates, and then make sure that the affiliate submits the later version.

International Data Management Solution:

Any needed changes are made to the template, which is made available to everyone. All recipients immediately see the new version, with any data they may have already entered still intact. Because the data is saved to SQL, your tax department always has access to the latest submitted data.

Benefits:

Time savings, fewer errors, and reduced aggravation.

Solving...Unauthorized User Changes

The Challenge:

Data providers add additional rows and columns to the Excel spreadsheets, causing formula errors and export mistakes.

International Data Management Solution:

Users cannot make unauthorized changes because they are entering all data directly into the SQL database and not an Excel spreadsheet, even though it looks to them like it's Excel.

Benefits:

Eliminate errors and data providers don't have to learn a new system.

Solving...Status Monitoring and Controls

The Challenge:

Your tax department must constantly monitor which packages have been returned, check each spreadsheet for completeness, and follow up with preparers who are delinquent.

International Data Management Solution:

Because all data is stored in the SQL database, there is no "back and forth". You can immediately see the status of each request and easily monitor the status and progress of all tax packages.

Benefits:

Save time and know the status of all data requests in an instant.

Solving...Data Entry Errors

The Challenge:

After receiving the tax package, you need to move the data into additional spreadsheets for calculations and analysis. This is a time consuming process that invites multiple opportunities for errors.

International Data Management Solution:

Data can be automatically extracted from the SQL database directly into Excel spreadsheets – no data entry, no data entry errors. Additionally, the data can be mapped from the Excel spreadsheets directly into ONESOURCE Income Tax.

Benefits:

Save time and eliminate errors.

Solving...Data Analysis across Entities

The Challenge:

You often want to look at the data you have received across entities. To do this in the Excel world, you must look at each spreadsheet and extract the data needed, entering it into other spreadsheets. This leads to data entry errors. Linking of the spreadsheets can lead to high maintenance.

International Data Management Solution:

The data is stored in a SQL database. Our extraction routine can easily and automatically move data into your customized Excel spreadsheets for analysis.

Benefits:

Time savings, fewer errors, and easy access to data.

View the information sheet for more information on the International Data Management Solution of ONESOURCE Income Tax.