ONESOURCE Statutory Reporting
Your corporate financial reporting software solution
Emphasising efficiency throughout the financial accounting preparation process, ONESOURCE Statutory Reporting provides you with flexible, easy-to-use reports based on a proven Big 4 accounting firm publication.
Our financial reporting software provides you with control over the information and data within your accounts including the ability to enforce a corporate standard throughout your organisation.
Journey to Transparency
The new justified trust initiative is the next stage in the ATO’s implementation of the OECD BEPS program.
What are the implications for those corporations already on the journey to transparency? How will it affect the relationship between finance and tax teams? Importantly, what steps can be put in place to prove out a position of justified trust without miring even more valuable resource into additional compliance efforts?
Get answers with our latest paper: Technology Builds Transparency: Achieving Justified Trust.Download paper
Why Statutory Reporting?
Adopt a standardised financial reporting process that helps you save time, reduce errors and remain compliant.
Produce financial accounting reports efficiently
Save time and increase accuracy when preparing your reports with automated rounding, note/page numbering, referencing, and roll-forward process. Capture and store your data once to improve the quality of your reports and stop re-keying errors, changes need only be made once to be reflected throughout all your reports.
Control financial data and reports with confidence
Standard workpapers help substantiate your reports by providing a full audit trail from your trial balance, including adjustments to your reports which you can provide to your auditors. Maintain accuracy, quality and consistency of your corporate financial reporting by controlling the updates to common notes and disclosures across your group.
Add, remove or customise disclosures quickly
Insert and customise new disclosures in your reports using our standard templates or create and control your own specific disclosures. Create and control your own formulas and variables to link and cross reference to data throughout your reports. Our intelligent report editor provides a user-friendly intuitive way to use “standard building blocks” to tailor your reports swiftly.
Harmonise financial reporting
Enable your teams with a global solution that optimises their ability to meet regulatory requirements, whether they are locally based, centralised in centers of excellence (shared services centers) or otherwise. With the right knowledge readily available, you can prepare reports with greater efficiency and effectiveness to focus on what matters: the public representation of your organisation.
When compared to their previous financial reporting tool:
*Results are based on a ONESOURCE Accounts Production 2017 Survey.
Questions to Ask Yourself
- Utilise best-practice content backed by the Big 4
- Automate “the simple things”: additions, rounding, workpapers and more
- Link your reports to automatically and uniformly apply updates and simplify your roll-forward process
- Ensure everything you need is located and linked together in one central repository
- Automate updates to enact changes throughout all reports—eliminating manual entry and risk of error
- Access all workpaper, journal and mapping summaries that substantiate your reports with a complete audit trail in just one location
Corporate Compliance Cycle
Like crafting fine wine, the tax lifecycle is a long journey. From data management to analytics, only Thomson Reuters ONESOURCE™ has a comprehensive offering for every step of your direct income tax processes.Learn more