FileCabinet CS: Source Document Processing - Conceptual Overview

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Thomson Reuters is constantly developing, evaluating, and implementing cutting-edge technology that can save you time and make your firm more profitable.

The Source Document Processing service combines OCR (Optical Character Recognition) technology, CS Professional Suite integration, and paperless processing to speed client source document management and streamline 1040 tax preparation.

For more information about automating your firm's 1040 workflow, see Automating Tax Workflow - Leveraging Technology to Refine 1040 Workflow.

Below is a description of how source-document processing works within your daily workflow. For step-by-step instructions, review the following topics:

Note: Currently, source-document processing is only available for 1040 processing, which means that you must, at a minimum, be licensed for UltraTax CS 1040 to be able to access source-document processing features for FileCabinet CS. Source-document processing is available on SaaS on a pay-per return basis.

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 used 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 used to extract specific data that you can easily review 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 time-saver for firms during tax season.

Two easy steps to faster labeling and organizing

Step 1: Scan & transmit

After client source documents are scanned into FileCabinet CS, they can be sent for source-document processing, where each document is labeled and organized with related documents into groups.

Step 2: Retrieve

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

One Optional Step to Streamlined 1040 Tax Preparation

Step 3: Data capture

After processing is complete, you can retrieve extracted data from within the UltraTax CS Source Data Entry module, where the data can then be verified, corrected as needed, and automatically imported into an UltraTax CS client's 1040 tax return. See the Source Document Processing Fact Sheet for a list of forms supported for extraction.

Note: During tax season, if you retrieve a supported brokerage statement from source-document processing without extracted data, try to retransmit the document on the following Monday. Updates are made every weekend to correct recognition problems caused by format changes. If you continue having problems with the extraction, contact FileCabinet CS Support at 800.968.0600.

Internal notes

For OCR pricing information see the Source Document Processing Fact Sheet.

Pricing is based on the SSN (entered in the Drawer Properties).  The price includes page naming, organizing and the extraction of data into UltraTax CS. There is no limit to the number of pages submitted per client and a client can be submitted multiple times within the same year at no additional charge.

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