2018 Review of GoSystem Tax RS – From Thomson Reuters

GoSystem Tax RS from Thomson Reuters best suited for mid-sized and large firms that process more complex returns such as consolidated corporate returns, life insurance returns, and tax equalization returns. GoSystem Tax also offers individual tax filing and integrates well with the Thomson Reuters CS Suite of tax and accounting products.

An online pioneer, GoSystem was one of the first tax compliance software applications to offer web accessibility, GoSystem Tax conveniently offers users the ability to work both on or off-line, with the data quickly uploaded once connected.

Completely online, GoSystem Tax has an intuitive user interface that is easily navigated, and offers easy access to organizers, as well as multiple views. Users can easily customize the user interface to better suit their needs. The product supports multiple monitors, making it particularly useful for firms with multiple users. The QuickTrack feature allows users to easily access frequently used organizers and the QuickForm option offers easy access to all major tax forms.

GoSystem Tax RS is designed to handle more complicated returns, allowing multiple system users to access a single return concurrently. The product easily handles federal, state, and local tax forms including 1040, 1041, 1042, 1042S, 1065, 1120, 1120S, 990, 706, 709, 5500 and 2290, with all states, along with related Payroll, U.S. Territories, Canadian, Pension, and Election Statements, with updates issued daily during the tax season. The product also offers a custom tax equalization module that is designed to handle expatriate calculations. The tax equalization module includes more than 20 templates, 11 equalization statement formats, and gross up calculations for a variety of 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.

Electronic filing is supported in GoSystem Tax, with both federal and state e-filing available. Federal returns can be validated prior to e-filing, with issues flagged for review. Users can click on any line in the tax form to display an audit trail for the amount represented. The program also includes diagnostic messages that help to pinpoint return inconsistencies and errors. An auto-compute feature is also available that allows users to easily view results as data is being entered into the system.

GoSystem Tax does not include a portal, but firms can choose to utilize the NetClient CS Portal, which is part of the CS Professional Suite of applications that seamlessly integrate with the application. The NetClient CS Portal allows firms to share returns with clients, as well as providing clients with the ability to upload necessary documents when requested.

For those currently using other Thomson Reuters applications, most data can be imported directly into GoSystem Tax RS, with users able to route PDF copies of returns directly to FileCabinet CS or GoFileRoom for easy electronic document storage and management.

GoSystem Tax RS integrates with CS Professional Suite applications which include Accounting CS, Workpapers CS, Engagement CS, Trial Balance CS and Write-Up CS. Mentioned earlier, the product also integrates with both FileCabinet CS and GoFileRoom for easy document management capability.   Asset information can be imported from Fixed Assets CS and integration with Planner CS allows users to create multiple tax strategies for clients to minimize potential tax liability. The add-on GoTracker module allows users to log associates time, monitor due dates, and set milestones and tasks that can be easily monitored.

GoSystem Tax RS also integrates with a variety of third-party applications such as EMC Documentum, SurePrep, and Copanion, all designed to decrease the amount of paperwork needed to process client returns. Users also have easy access to Checkpoint research content as well as PPC Deskbooks from the user toolbar. Also included is the Partner Bridge, which allows firms to create Data Interchange Format (DIF) files automatically when partner information is imported or exported. GoSystem Tax RS also integrates with QuickBooks applications.

GoSystem Tax RS offers solid help functionality, with help options available directly from the user interface. There are also a variety of online tools and resources available in both the Help and How-To Center and the Customer Center, where users can access account information, download enhancements, and access support via chat, with toll-free support available as well. The Help and How-To Center offers support options for all modules, along with a searchable knowledgebase, user guides, and various training options, which include web, classroom, custom, and on-demand training.

GoSystem Tax RS is optimally designed for mid-sized to larger accounting firms that handle a variety of complex returns for their clients. With extensive integration capability with CS Professional Suite along with various third-party applications, users have access to the data and documentation needed to easily process even the most complicated return. GoSystem Tax RS pricing is customized for each firm, starting at around $4,000 annually for a single-user system.

2018 Rating: 5 Stars