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Internal: GST: Glossary of available modules

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This includes 1120, 1120S, 1120 PC and 1120 L. This gives the ability to consolidate these types of returns.

RIC stands for Regulated Investment Company

REIT stands for Real Estate Investment Trust

This is for 1040 only. This bridge allows for integration between GoSystem Tax RS and BNA for tax planning.

Sample locators that can be viewed on the GoSystem RS Browser. Case studies were created for learning purposes and were aimed at training newer preparers to use GoSystem Tax RS. They do not dock an additional locator. Case studies can be found within the GoSystem Tax RS browser under Help.

Scanned documents into Copanion are integrated with GoSystem RS.

Only available for 1040 returns. This is often referred to as Expatriate returns. When a US company sends someone on assignment overseas and you have to pay taxes, the program helps you calculate the difference between the foreign taxes and the US states in which the US company pays the difference. This return is not filed with the IRS.

This is for 1120 and 1065. Provides the ability to aggregate international forms between other GoSystem Tax RS returns and OneSource returns.

An electronic tax forms library that provides forms and schedules in one location. The module is no longer sold. If the firm has it, it's via a separate agreement with RIA and they should talk with their rep at (800) 323-8724. E-forms access is granted by the RS Admin in the Access Control section of the GST browser. To link e-forms from RIA Checkpoint, use the following steps:

  1. Login to the pac codes program.
  2. Click Options, then click Pass-Thru Login.
  3. Type in the e-Form account number and select ok. The other fields will fill in automatically if it's correct.
  4. Change the Parent Account to the four digit GST ID, then click the Change Parent Association button.

This is for 1120 and 1065 return types. Allows for items like Schedule K-1 to be imported into another vendor and then filed electronically.

A term some user may use when refering to GoSystem Tax. FasTax is a legacy name for this application, and remains a part of the browser's sign in screen's web address - https://gosystemrs.fasttax.com.

This module is priced depending on how many locators the firm is contracted for. This comprehensive tool allows for searching tax returns for specific information and the creation of customized reports. It is available for 1040, 1120, 1065, 1041, and 990 returns.

For example, FormSource can provide an instant list of all individual clients subject to Required Minimum Distributions or clients with estimate vouchers to be paid. This provides an opportunity to alert clients to their tax responsibilities before it is too late, or identify potential sources for tax consulting revenue.

Hosted archive option that can be utilized for data retention purposes, see GoSystem Tax RS data retention plans.

Enables a Preparer to check-out a return and work on it some place without access to the Internet. RS To-Go is designed as an input tool and is not meant to be the place where returns are finalized.

  • Only 1120, 1065, 1040, 1041, and 990 are available in RS To-Go.
  • New locators cannot be created within this module
  • A return cannot be electronically filed through RS To-Go. If a return has been worked on in RS To-Go it is recommended that it is checked back in and a full recompute is completed before generating the electronic file.
  • Batch jobs such as importing, exporting, roll-over, and organizer print cannot be completed through this module.
  • Tax defaults used in GoSystem Tax RS do not flow to reruns in RS To-Go. For example, a custom HASP will not print on letters and filing instructions.
  • If a return is checked out that interacts with other returns, such as in consolidations, the checked-out return does not communicate with those that are still in the system.
  • The GoSystem RS reports feature is not available through RS To-Go.

This module provides both time and return status tracking within GoSystem Tax RS (GST). It allows for the ability to track returns throughout the tax return preparation process. Firm-configurable milestones indicate where a return is in the preparation process, and RS Administrators can have the system prompt preparers to update the milestones upon closing a return. Milestones are available for reporting, achieving a master tracking list across the firm, and providing additional insight for better budgeting of future tax engagements. Administrators can also assign hourly rates to preparers and staff to generate reports for invoicing purposes, which include billable time spent in the return and the resulting billable time.

1120 L, this is a specific type of 1120 return

1120 PC, this is a specific type of 1120 return

Only available for ProSystem FX and allows for the conversion of data to GoSystem Tax RS in house rather than creating a conversion appointment. The conversion can be done from the GoSystem browser.

An online organizer that allows customers to collect data for tax returns and is available for 1040 only.

A locator is the record of the tax return in GoSystem RS. They are added in a contract, or sold individually, and can be used for any type of tax return form. More information on locator counts and ordering can be found here.

Virtually identical to GoSystem RS. The only differences are pricing and some functionality is disabled on the ONESOURCE EXPRESS RS side. Should only be licensed to corporations and not professional tax and accounting firms.

In preseason processing at Thomson Reuters, we will print two-sided organizers automatically and ship them to the firm. Shipping charges are additional and indicated in the transactional pricing addendum.

In preseason processing at Thomson Reuters, we will print one-sided organizers automatically and ship them to the firm. Shipping charges are additional and indicated in the transactional pricing addendum. Notice that this service more expensive than duplex print due to more resources being used.

Bridge that allows for integration with GoSystem Tax RS and Planner CS for tax planning. Available for 1040 returns only.

Move returns from one year to another, similar to the proforma function in UltraTax CS.

An initiative that allows for access to the beta version of GoSystem Tax RS. Thomson Reuters will use the Sandbox to showcase new technologies and features within the product. The site will be an accessible Web Application that allows previews, testing, and development with no impact to "live" client data. Included with the sandbox version is 20 users, 1 administrator and a maximum of 300 returns. Returns cannot be e-filed and printed returns will be water marked.

A superseded return is when a return is filed once and accepted and then filed again before the deadline with amended information. An amended return is when a return is filed and accepted and then filed again after the deadline with updated information.

SurePrep is a third party software vendor that uses Optical Character Recognition (OCR) technology. Source documents (W-2s, 1099’s) can be scanned into SurePrep. SurePrep then transfers the relevant information into a GoSystem Tax Organizer.

This is often referred to as an Expatriate return. When a US company sends someone on assignment overseas and they have to pay taxes, the program helps the user calculate the difference between the foreign taxes and the US states in which the US company pays the difference. This return is not filed with the IRS.

This module is required to print the Schedule K-1 Reconciliation Spreadsheets. This is an add-in utility to enhance the basic tax review available for 1040, providing input documentation and a complete reconciliation of the return. Provides a grid-style layout of all K-1 activities and corresponding K-1 box amounts. Can be utilized to reconcile line tem amounts on the return to the client data entered in the Organizer; compare Organizer entries for descriptions and amounts to the source documents; add information about a return for internal use; document tax planning ideas to share with the client; create a standard review process, or one customized for a particular return.

Refers to third-party e-file aggregation. Components of the e-file are being produced in a third-party system and are then rolled into the e-file before it is transmitted to the IRS. Most often used by large corporations and partnerships that prepare international forms in their own system, then create an export and provide it to the accounting firm working on the return. When the return is ready to be filed the firm creates the e-file and pulls in those forms using the XML file which the corporate/partnership client provided, before sending to the IRS.

Allows for the import of data into a Trial Balance grid from the following audit packages: Workpapers CS, Trial Balance CS, KPMG Basic Financial Statements, Caseware, Grant Thornton, EY Audit, ProSystem fx Engagement, and ProSystem fx Trial Balance. Data can be imported from the following general ledger packages: Accounting CS, CLS (Client Ledger Systems) and Write-Up CS. The Trial Balance Bridge also supports DIF, CVS, ASCII and Excel files. This is a module built into the program that is accessed once inside a locator.

Allows for the import of trial balance information from a DIF file or Write CS into a locator.

Allows for the ability to view electronic filing statuses without needing to log into GoSystem RS. This is custom programming and used by some National accounts.

Custom programming available so that customers can program their own tools. This is mainly used in National accounts and some very large non-national accounts.