2019 Review of ONESOURCE Indirect Tax

From the 2019 reviews of sales tax compliance systems.

ONESOURCE Indirect Tax Compliance is a stand-alone system from Thomson Reuters well suited for larger businesses and multi-national corporations that need to calculate a variety of taxes including domestic and global sales and use tax, VAT, and GST. ONESOURCE Indirect Tax Compliance is designed to work with a variety of third-party software applications to deliver indirect tax management services including tax determination and calculation, tax research and content, tax policy configuration and analysis reporting, and exemption certificate management. In addition, ONESOURCE Indirect Tax Compliance also handles forms processing and electronic remittance of taxes owed.

ONESOURCE currently offers global coverage in a variety of countries and offers the only patented universal tax engine currently available on the market today. Designed for a global environment, ONESOURCE Indirect Tax Compliance offers easy access to real-time rates and rules, along with data reconciliation and adjustment capability. In addition to its wide-ranging global calculations, ONESOURCE also supports electronic filing of tax forms, currently supporting more than 750 signature-ready forms as well as the ability to e-file forms in 27 U.S. states. 

ONESOURCE Indirect Tax Compliance allows users to easily import sales and other data from a variety of third-party ERPs, point of sale systems, ecommerce and shopping cart platforms, and other applications, and uses the Thomson Reuters global research team to constantly monitor and track tax rates, rules, and changes, to ensure that access to the latest tax data is available to all system users. ONESOURCE Indirect Tax Compliance currently has access to more than 14,500 taxing jurisdictions across the U.S. as well as global access to 175 countries, covering sales tax, use tax, VAT and GST, and country-specific taxes.  The tax database is automatically updated at regular intervals using SSAE 16 certified global tax research processes, which provides users access to the most current tax rates, rules, and calculations available.

ONESOURCE Indirect Tax Compliance also includes complete tax exemption certificate management, including the ability to properly manage all certificates received, Users can also be notified when certificates are set to expire, and there is an option to view all expiring certificates if desired.

ONESOURCE Determination is used to connect current business systems with ONESOURCE Indirect Tax Compliance and includes numerous pre-built integrations with a variety of applications including SAP Concur, Coupa, JD Edwards, Magento, Microsoft Dynamics and Dynamics 365, NetSuite, and AP Business Suite. Along with importing data from these applications, users can also choose to import data using a CSV file format, or by using ASCII format. Data can also be exported to these same applications, as well as many others. 

ONESOURCE Indirect Tax Compliance offers easy access to product support from within the application, allowing users to search for specific topics, access FAQs or contact product support. Human support is available during regular business hours, and product training options as well as access to videos and webcasts are also available from the support page.

ONESOURCE Indirect Tax Reporting offers good reporting capability and is designed to be used with ONESOURCE Indirect Tax Compliance. More than 40 standard reports are available, including month-end reconciliation reports for all tax types, as well as both tax summary and tax detail reports. All reports can be easily customized and users can create custom reports using the included template. All reports can be exported to a variety of formats, including Microsoft Excel, Crystal Viewer from Crystal Reports, or to a CSV file. Reports can also be saved as a PDF if desired.  

Designed to work with ERP and other business applications, ONESOURCE Indirect Tax Compliance pricing is customized for each user and is based on subscription preferences with a variety of plan options available.  

2019 Overall Rating: 5 Stars