The Tax & Accounting business of Thomson Reuters has added powerful new tools to its award-winning Documenter software, a key component to its comprehensive ONESOURCE Transfer Pricing offering.
The enhancements will help multinational corporations (MNCs) control their transfer pricing activities, and includes the addition of global financial data from Reuters Fundamentals, expanded report-writing capabilities, and more than three dozen country-specific templates.
is a central repository for transfer pricing documentation, which can be used by MNCs to achieve greater visibility and control in compliance and risk management. It also helps facilitate the collaboration between in-house tax teams and external tax advisors, and supports internal controls for financial reporting, integration, and workflow. Moreover, it now contains an expanded dataset to allow for more complex transfer pricing activities.
, a Thomson Reuters database that contains more than 65,000 companies from over 110 countries, has also been added to Documenter. Composed of financial data sourced directly from public filings and other public areas, with more than 100 line items and data points per company, Reuters Fundamentals gives users more in-depth and up-to-date information, including segmented data, detailed business activities and updated financials.
“The inclusion of Reuters Fundamentals shows our commitment to provide the market with the depth and breadth of financial information essential for transfer pricing efforts, and provides transparency behind those numbers that our customers can use when conducting their comparable searches,” said Joe Harpaz, head of Global Tax Technology for Tax & Accounting. “Reuters Fundamentals takes Documenter another step toward quickly providing the most accurate financial information in the marketplace, so our customers do not have to wait for quarterly updates to make their transfer pricing decisions.”
Workflow capabilities also have been enhanced to include an import template that allows corporate tax departments to easily incorporate data from their ERP systems, and it automatically creates an audit trail to aid in coordination, collaboration, and control of all transfer pricing activities.
Other enhancements to Documenter include a powerful report-writing solution, designed to streamline transfer pricing activities, and a multiple revenue authority report feature, which allows users to easily create a single transfer pricing report with country-specific information. Coverage has been doubled to 38 country-specific reports, including every major economy in Europe and Asia.
Documenter recently won the LexisNexis 2010 Taxation Award for Best Technological Innovation. More information is available here
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Thomson Reuters is the world's leading source of intelligent information for businesses and professionals. We combine industry expertise with innovative technology to deliver critical information to leading decision makers in the financial, legal, tax and accounting, healthcare and science and media markets, powered by the world's most trusted news organization. With headquarters in New York and major operations in London and Eagan, Minnesota, Thomson Reuters employs more than 50,000 people and operates in over 100 countries.
The Tax & Accounting business of Thomson Reuters is the leading provider of technology and information solutions, as well as integrated tax compliance software and services to accounting, tax, and corporate finance professionals in accounting firms, corporations, law firms, and government. Headquartered in New York, Tax & Accounting has major operations in Ann Arbor, Dallas, Hyderabad, London, Sydney, and Toronto.