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Tax Software from Thomson Reuters (SourceOne)

  • 1.  Tax Software from Thomson Reuters (SourceOne)

    Posted Dec 19, 2018 11:51 AM

     Hello:

    We are implementing D365 F&O and are looking at a tax vendor from Thomson Reuters (SourceOne), and wanted to see if any folks out there had any experience with (good or bad), as it would be helpful to get the feedback.  Thanks all

    David



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    David Klubock
    Business Systems Analyst
    Park Place Technologies
    Marlborough MA
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    AXUG Summit - Post


  • 2.  RE: Tax Software from Thomson Reuters (SourceOne)

    Posted Dec 20, 2018 10:59 AM
    Hi David,
    we are also looking to use the One Source product switching from Avalara because OneSource can handle operations outside the US. If you are just operating in the US the products appear to be very similar. We use Thomson Reuters other tax products for research and income tax so it makes sense for us to switch.

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    Phil Earle
    Axon Enterprise
    Scottsdale AZ
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    AXUG Summit - Post


  • 3.  RE: Tax Software from Thomson Reuters (SourceOne)

    TOP CONTRIBUTOR
    Posted Dec 22, 2018 07:43 PM
    Phil, do you mind elaborating what international features you found the Thompson product to be doing better from the Avalara product?

    When I attended their presentation in the AXUG conference a couple of years ago there were several things they did not seem to support, but the product might have changed since then,

    I seem to remember they did not have a solution yet for recording VAT on purchases, for recording in D365 2 separate taxes (such as PST & GST in Canada), and other things that back then gave me the impression they would not be a good fit.
    It would be good to know if the product has matured since then.

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    Zvika Rimalt
    Functional Consultant
    Vancouver BC
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    AXUG Summit - Post


  • 4.  RE: Tax Software from Thomson Reuters (SourceOne)

    Posted Dec 23, 2018 09:06 AM
    ​  OneSource  has just added a connector for D365 to handle the global VAT issue. We will be  the 2nd D365 customer they have, as Avalara
    and Vertex do not have many D365  customers as well, as it is fairly new and the ISV's are racing to develop their technologies to link to D365..  One Source handles EMEA well (including the Irish 2/3 tax rule), and are developing tax for Brazil (which the other 2 do not have).  As a service company, Avalara did not tax EMEA correctly and so we look for another package, plus we are now doing business in several continents now.

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    David Klubock
    Business Systems Analyst
    Park Place Technologies
    Marlborough MA
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    AXUG Summit - Post


  • 5.  RE: Tax Software from Thomson Reuters (SourceOne)

    Posted Dec 27, 2018 05:55 PM
    Hi Zvika,
    I agree with David's answer. To elaborate on Avalara's solution it can calculate tax on sales for VAT and GST in the jurisdictions I need (EU, non-EU VAT, Canada, Australia) but they cannot record the 'recapture' or refundable amount from AP, this is left up to you the AX customer to set up - and if you are setting up VAT and GST for purchases why not set it up for sales while you are at it and therefore why do I need Avatax? Unlike US sales tax most VAT/GST rates don't change much and don't require multiple levels of jurisdictions like we have in the US (Canada being the exception with 2 levels). The 'geocode' taxing in Avalara is great for the US but outside the US it's not needed. Also in the EU you will need to produce invoices (free text and credits too) referencing the EU directive used to determine tax treatment for that particular customer - domestic, EU member registered (Reverse charge), NATO exception, etc. AX and D365 can be configured to support this - I did not see a way in Avatax to validate VAT registration numbers or assign EU regulated tax rules by customer. Again - these are the complicated bits and Avatax doesn't support - to my knowledge. As a US domestic tax tool it works great. I am sure they are working to support international for the future.
    We have had a few demos of the TR OneSource product and will be deploying it in our D365 test environment in early 2019. Having spoken to their team I am confident they understand various VAT and GST requirements throughout the organization.

    note to David at Park Place - I look forward to hearing more about your experiences deploying OneSource.

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    Phil Earle
    AXON Enterprise Inc
    Scottsdale AZ
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    AXUG Summit - Post


  • 6.  RE: Tax Software from Thomson Reuters (SourceOne)

    TOP CONTRIBUTOR
    Posted Dec 28, 2018 03:22 AM
    Thank you guys for the details.

    Phil, I totally agree with your perception of the Avalara product, and the things it does not do when trying to use it in countries outside the USA, and especially in VAT based environments (as opposed to sales tax based environments).
    I had the same impression as well.

    I am just keen to learn in what way the Thompson product has addressed those areas of functionality
    To the best of my recollection, when I asked in October 2015 they claimed to not have functionality of instant calculation of tax on purchase side transactions, and only offered "batch type" calculation. so I am keen to learn what they offer in way of EU reverse VAT calculation, EC sales report, and posting into multiple tax codes at the same time (such as PST and GST).

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    Zvika Rimalt
    Functional Consultant
    Vancouver BC
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    AXUG Summit - Post


  • 7.  RE: Tax Software from Thomson Reuters (SourceOne)

    Posted Dec 28, 2018 11:50 AM
    I look forward to comparing notes and findings

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    Phil Earle
    AXON Enterprise Inc
    Scottsdale AZ
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    AXUG Summit - Post


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