ONESOURCE Tax Provision vs Tax Series

ONESOURCE Tax Provision automates corporate tax estimates and supports financial close and defensible reporting. Its calculation engine creates tax entries automatically for complex tax scenarios and can handle attributes such as net operating losses and valuation allowances. The product covers current and deferred provision work, rate reconciliation, and provision-to-return. Reporting includes industry-standard and custom reports, application-wide filtering, and drill-down from consolidated amounts to entity-level detail. Configurable journal entries connect it with ERP systems across jurisdictional levels. Microsoft Excel Workpapers can exchange data in both directions. The software collects structured and unstructured data from multiple sources, extracts information for other applications, and provides APIs for imports and exports, including scheduled or triggered imports. The web-based Global Access add-on lets colleagues enter information from any location with local language and currency support. It also provides configurable controls, permissions, and sign-offs. Thomson Reuters describes the output as auditable and audit-ready. ONESOURCE University offers training packages, workshops, WebSeminars, courses, and certifications. The product is presented for upper-mid-sized corporations, multinational enterprises, and enterprise corporations. Pricing is available by contacting sales.

Tax Series is web-native corporate tax software for corporate income tax processes, with shared data used across tax work. Its modules cover worldwide provision reporting under ASC 740, corporate tax compliance, and BEPS reporting. Provision supports calculations under U.S. GAAP or IFRS. Compliance automates corporate tax calculations and population of forms including 5471, 8865, and 8858; BEPS supports Country-by-Country reporting and master and local files. Data Collector assigns packages to preparers, reviewers, and approvers and provides real-time project monitoring. Web Services supports two-way data transfer with client systems, data validation, and calculation triggers. A single database also supports planning, audit support, legal entity maintenance, tax calendar, and document management. The vendor describes the product as well suited to medium and large multinational corporate clients, and it supports U.S. corporate taxpayers and multinational corporations. Pricing is on request. Prospective clients can use it for a full tax cycle at no cost through a proof of concept, typically a 2–10 week process. After subscription termination, clients receive three months of read-only access to retrieve data.