The Tax & Accounting business of Thomson Reuters has added global financial data from Reuters and expanded report-writing features to its transfer pricing software for multinational companies.
The new tools have been added to the Documenter software component of the company’s ONESOURCE Transfer Pricing product. The enhancements include the addition of worldwide financial information from Reuters Fundamentals, and more than three dozen country-specific templates.
Documenter provides a central repository for transfer pricing documentation, which can be used by multinational corporations to achieve greater visibility and control in compliance and risk management. The software also helps facilitate the collaboration between in-house tax teams and external tax advisors, and supports internal controls for financial reporting, integration and workflow. Documenter now contains an expanded dataset to allow for more complex transfer pricing activities.
Reuters Fundamentals, a Thomson Reuters database that contains information on more than 65,000 companies from over 110 countries, has also been added to Documenter. Composed of financial data sourced directly from public filings and other public areas, with more than 100 line items and data points per company, Reuters Fundamentals gives users segmented data, detailed business activities and updated financials.
Workflow capabilities have also been enhanced, to include an import template that allows corporate tax departments to incorporate data from their enterprise resource planning systems. The software automatically creates an audit trail to aid in coordination, collaboration, and control of transfer pricing activities.
Other enhancements to Documenter include a report-writing tool for streamlining transfer pricing activities, and a multiple revenue authority report feature, allowing users to create a single transfer pricing report with country-specific information. Coverage has been doubled to 38 country-specific reports, including every major economy in Europe and Asia.
For more information, visit http://onesource.thomsonreuters.com/solutions/transfer-pricing/transfer-pricing/documenter/, or call (212) 404-8600.
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