Source Document Processing

Streamlined Workflow for FileCabinet CS^™ and UltraTax CS^™ Users

Source Document Processing is an advanced workflow solution that leverages OCR* technology, CS Professional Suite® integration, and paperless processing to speed the management of client source documents and streamline the workflow of 1040 tax preparation.

As part of our commitment to help firms be as efficient and cost effective as possible, Thomson Reuters offers Source Document Processing as a service available to FileCabinet CS and UltraTax CS users.

How Source Document Processing Works

Client Source Document Management

For FileCabinet CS users, Source Document Processing enables significant savings in time, money, and staff resources. With the Source Document Processing service, client source documents (that have been scanned into FileCabinet CS) are transmitted to Thomson Reuters host computers for Source Document Processing. During processing, OCR technology is leveraged to identify and categorize certain source documents (e.g. W-2s, 1099s, K-1s, etc.), making it faster and easier for firms to electronically store and access the documents in FileCabinet CS.

1040 Tax Preparation Workflow

For FileCabinet CS users who are also licensed for UltraTax CS, Source Document Processing enables substantial reductions in 1040 tax preparation time and costs. With the Source Document Processing service, OCR technology is also leveraged to extract specific data during processing, which is easily reviewed for accuracy in the UltraTax CS Source Data Entry module. When ready to prepare clients' tax returns, preparers need only open the UltraTax CS client to accept or reject the captured data—a tremendous timesaver for firms during tax season.

Two Easy Steps to Faster Labeling and Organizing

Step 1: Scan & Transmit

Scan Client Source Documents into FileCabinet CS and Transmit to Source Document Processing

Once client source documents are scanned into FileCabinet CS, they can be sent for Source Document Processing, where OCR technology is employed to label each document and organize related documents into groups.

Step 2: Retrieve

Retrieve Labeled and Organized Client Source Documents into FileCabinet CS

After processing is completed, the labeled and organized client source documents can be retrieved into FileCabinet CS. Because each document is neatly labeled and related documents are grouped together, it's easy and fast to select a document for viewing.

One Optional Step to Streamlined 1040 Tax Preparation

Step 3: Data Capture

Accept Captured Data into UltraTax CS for Seamless Integration into a Client's Tax Return

In addition to labeling and organizing during Step 1, Source Document Processing also employs OCR technology to capture data directly from the scanned source documents. If desired, this data can be retrieved into the UltraTax CS Source Data Entry module, where it can be verified, corrected as needed, and automatically imported into an UltraTax CS client's 1040 tax return.

For more information on the Source Document Processing service, visit the FileCabinet CS or UltraTax CS product pages. You can also contact us at CS.Sales@ThomsonReuters.com or 800.968.8900.

Note: OCR (optical character recognition) is the mechanical or electronic translation of images of typewritten or printed text into machine-editable text. Because Source Document Processing relies on OCR technology to read the various designs and formats of the forms scanned, the degree of accuracy will vary.

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