What Is A GoSystem Tax Solution?
GoSystem Tax Solution is a tax preparation software created by the company Thomson Reuters. The company named Thomson Reuters uses its intelligence and technological know-how to assist professionals in areas of law, tax, compliance, government, and media.
Taxpayers usually find it difficult to collect documents and file the return, likewise, professionals filing the tax returns find it difficult to manage their jobs. To facilitate the process of filing a tax return, Thomson Reuters introduced the GoSystem Tax Solution. This tax solution is one of the most comprehensive tax preparation software aimed to assist professionals in making tax returns and aiding the process of filing tax returns.
The sole purpose of GoSystem Tax Solution is to help professionals advance their business and gain competitive advantages with the trusted knowledge base that is provided by Thomson Reuters.
GoSystem Tax software is used by almost over 100 CPAs and is best recommended to facilitate the process of filing a tax return. It is considered to be one of the leading markets in the corporate sector of the tax department. There are many solutions services provided by Thomson Reuters GoSystem Tax software such as auditing, accounting, tax filing, firm and workflow management, document curation, checking payroll, and overlooking the marketing and growth of the business.
What Is A GoSystem Tax Solution?
It provides numerous amounts of features that are available for the customer’s usage:
- Higher Scalability: It handles the workflow of all the sizes of firms which makes it highly approachable. It provides services for all types of tax returns for corporate and partnerships such as multitier consolidated corporate returns, life insurance returns, mix group filing, and tax equalization returns.
- Comprehensive Return Processing: It applies the allocation and apportionment module that makes processing returns of individuals, corporations, and partnerships much easier and efficient with the working mechanism of timesaving tools.
- Multi User Access: It provides a well-integrated multi user interface to customers, wherein, they can choose to deploy all the team members simultaneously across a single return. This multi user access has made the work of all professionals easier because it allows room for teamwork processing. Allowing each specialist can take on their role at the same time.
- Provides quick and easy reviews: It uses the SubView module to review the consolidated filings providing a quick and easy navigation tool that itemizes member amounts for each line of the return.
- Import/Export Capabilities: It has an impeccable system of import and export files of tax returns. It builds the entire tax return from scratch using an imported data file system.
- Ironclad Security: It provides an iron-strong protection for the database stored in the software. It protects the data with multiple layers of security, including network security, virus protection, encryption schemes, and many more.
- Streamline Workflow: GoSystem tax software has many integrating tools with CS Professional Suite and Enterprise Suite selection of products including Accounting CS, Work-papers CS, Trial Balance CS, Write-Up CS, and Engagement CS. This comes along with document management tools and applications like that of FileCabinet CS, GoFileRoom as well as AdvanceFlow which is a cloud-based audit management application.
- Wide-ranging Product Integration: The product software has system requirements which also integrates with Practice CS, Fixed Assets CS, and Planner CS, as well as NetClient CS. Integration with the optional Go-Tracker module allows users and administrators to log time, monitor and administer vital dates, set different milestones, and track on-going and accomplished tasks, which helps to improve overall workflow while also ensuring that a vital due date is brought to notice.
- Easy Guidance: Users can have access to a searchable knowledge base, they can go through the user guide and tutorial videos, training sessions, and online user form are also available. It also has the tax on-demand demo session providing the potential buyers an overview of the working of the software.
- Cost of the software: GoSystem Tax RS pricing is customized for each firm, starting at around $4,000 annually for a single-user system. The cost eventually increases as per the firm and demand for usage.
Pros Of Using GoSystem Tax Solution
- It is optimally designed for mid-sized to larger accounting firms that handle a variety of complex returns for their clients.
- It is well-updated with features and new product releases, viral topics, and quick access to training information.
- The enhancement features work great when it is integrated with third-party applications like EMC Documentum, SurePrep, etc. These applications use OCR processing technology. The product also integrates with QuickBooks, as well as GoTracker providing better functionality.
- This software provides customization of the interface to suit the needs of the users allowing easier navigation tools.
- Due to the cloud-based system it handles the process online which ensures less maintenance costs, fewer storage issues, and easy workflow of the business module.
- It supports both the federal and state e-filing through which users are able to validate returns before e-filing.
- It notifies the users with diagnostic messages where the users can view the processing results as they entered using the auto-compute feature.
- It gives a user-friendly interface, fast processing of reviews, accurate calculation, and trusted knowledge base guidance.
Cons Of Using GoSystem Tax Solution
- The customer service process is very slow, the user guide support is poor since the team may not always be helpful.
- The prices are not visible or upfront on the website.
- It may lag behind the up-gradation of the software. This puts the software in a very harsh competition with other top software.
- State preparation and individual returns are sometimes difficult to complete without working through overrides. Many states do not flow from the federal information as they are supposed to, this may hinder the process.
- Difficult to find specific options in different forms limiting the navigation.
- Software errors may take time to fix its issues, it runs very slow with working processes.
