ONESOURCE R&D Tax Credit Manager: Software

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ONESOURCE R&D Tax Credit Manager software supports the complete research tax credit lifecycle-from automating the routine, administrative tasks of gathering quantitative and qualitative information to substantiate research activities, to analyzing and determining positions, to defending an audit.

The software is browser based using Internet technology. It's fully tailored to your company's needs, and is intuitive and easy to use. Secure, anytime, anywhere access makes it easy to gather information from employees whether in the office, on the road, at customer sites, or from home.

ONESOURCE R&D Tax Credit Manager modules include:

  • Interviewer
  • ONESOURCE FileRoom
  • Analyzer

Interviewer

The Interviewer module of ONESOURCE R&D Tax Credit Manager cuts the interviewing and documentation process from months to weeks by leveraging corporate intranets and web-based technology. This survey tool, loaded with "tailorable" questions and rules specific to research tax credit, facilitates rapid contemporaneous document collection in a fast, easy, and secure way and accommodates company-specific language, acronyms, and requirements.

Most important, by using Interviewer, companies eliminate slow, costly, manual interviews. Tax staff can focus on supporting a strategic review of the automated survey results to help determine positions rather than on conducting interviews and writing up results.

The Interviewer module meets the specific needs of corporations with multiple business units, legal entities, and global accounting structures. As such, it serves as a single, companywide system of record for qualified research expenditures (QREs) and contemporaneous documentation of companywide R&D activities.

ONESOURCE FileRoom

ONESOURCE FileRoom provides the distributed access to a single, secure, companywide database archive of all QREs and contemporaneous documentation for the research tax credit for all open tax years. This provides you with powerful negotiating leverage to bolster the company's position while under audit.

ONESOURCE FileRoom interfaces easily with all major accounting, human resources, and payroll systems such as SAP, PeopleSoft, and Oracle. It provides complete security and instant accessibility to data from anywhere with corporate intranet access.

ONESOURCE FileRoom is hosted and supported by Thomson Reuters at a secure data center and requires no support from corporate IT departments.

Analyzer

The Analyzer module of ONESOURCE R&D Tax Credit Manager is a multidimensional analysis tool that helps tax professionals calculate research tax credit scenarios in a matter of hours, not weeks. It can quickly compute federal and state credits, using regular and alternative incremental credit. In addition, it can be used for returns, estimates, provisioning, amended returns and planning.

The Analyzer module enables you to:

  • Eliminate spreadsheet "memory overflow" errors from too many rows of data
  • Prevent problems associated with sharing data between business units and corporate staff
  • Support aggregation across multiple business units and complex accounting structures to the corporate parent level.

Tax professionals can model the impact of various wages, supplies, and contract research expense decisions as easy as ordering a book online.