Thomson Reuters launches Accounting CS platform

The Tax & Accounting business of Thomson Reuters this week announced the launch of its Accounting CS platform, which is designed to take a new approach to professional accounting software by combining write-up, live and after-the-fact payroll, trial balance, financial reporting, and client accounting into a single unified platform.

The new architecture makes it possible for firms and clients to collaborate online in real-time and opens new possibilities in staff utilization and division of duties, according to the company. By going beyond traditional approaches that linked a series of separate programs, Accounting CS also can eliminate importing, uploading, and other client data transfer hurdles while still enabling integration of third-party data such as QuickBooks, spreadsheet, and time-clock data.
The dashboard interface and flexible configuration options are designed to meet the needs of practicing accountants and enable users to interact with the application in an intuitive and efficient manner.
“This is the first accounting application designed from the ground up to take advantage of the Web, and the initial feedback we’ve received from the profession has been very encouraging,” said Teresa Mackintosh, senior vice president and general manager of professional workflow and service solutions, Americas, at the Professional, Tax & Accounting business of Thomson Reuters.
“For big and small firms alike, this is the most significant new accounting system since our developers pioneered integrated software back in the 1980s,” Mackintosh said. “It’s going to open a wide range of new possibilities for the way in which accounting firms manage their accounting work and client collaboration.”
Those possibilities include:
  • The ability to divide work by task, not just by client. This will enable staff to perform accounting tasks and apply them to multiple clients, or even firm-wide, in just a few steps. It also opens new workflow options, including enabling staff members to specialize by task, and not simply be focused on client-by-client work.
  • The highest level of accountant/client collaboration available. Accounting CS gives accounting firms the ability to specifically configure their clients’ online access and usage of their data. This enables accountants to customize a unique client accounting tool for each of their clients, while at the same time, eliminating the need for a separate client-side database. Changes and updates are available instantly, the firm can access the most recent client data at any time, and data imports and transfers are eliminated.
  • The capability for multiple staff to work on the same client simultaneously, offering greater firm efficiency and collaboration.
  • Enhanced payroll features, including batch payroll processing and advanced configuration options designed to streamline every step of the payroll process.
The culmination of extensive development, user feedback, and research, Accounting CS is backed by comprehensive training and consulting, and support options, including carefully planned conversion paths for current Thomson Reuters users, particularly users of CS Professional Suite Accounting, according to the company. This release of Accounting CS includes write-up, payroll, trial balance, and financial reporting capabilities. The Client Access module for Accounting CS will be released later this summer.
“As a technology partner, providing new technology tools is just the first step for us,” Mackintosh said. “We also consider it our job to make sure that our products provide real value and make day-to-day operations easier and more profitable from Day One. Accounting CS represents a big leap forward, and we want to make sure our users are well positioned to get the maximum benefit.”
More information on Accounting CS is available at, or by contacting Thomson Reuters at (800) 968-8900 or
Related articles:

You may like these other stories...

Federal judge tosses IRS lawsuitsBernie Becker of The Hill reported that a federal judge sided with the IRS on Thursday, tossing out two lawsuits filed against the tax agency over its improper scrutiny of Tea Party groups...
SEC, Big Four Chinese affiliates make progress in talks over audit documentsMichael Rapoport of the Wall Street Journal reported that the US Securities and Exchange Commission (SEC) and the Chinese affiliates of the Big Four...
Koskinen warns filing season could be most complicated yetImplementation of the Foreign Account Tax Compliance Act and the Affordable Care Act, combined with a tight budget and the possibility of Congress passing a late...

Already a member? log in here.

Upcoming CPE Webinars

Oct 30Many Excel users have a love-hate relationship with workbook links.
Nov 5Join CPA thought leader and peer reviewer Rob Cameron and learn ways to improve the outcome of your peer reviews while maximizing the value of your engagement workflow.
Nov 12This webcast presents basic principles of revenue recognition, including new ASU 2014-09 for the contract method. Also, CPAs in industries who want a refresher on revenue accounting standards will benefit.
Nov 18In this session Excel expert David Ringstrom, CPA tackles what to do when bad things happen to good spreadsheets.