Tax & Accounting Blog

Let the Voting Begin! Vote For Year End Success Stories This Week

Audit Assistance, Forecasting, Global Tax Compliance, ONESOURCE, Tax Provision, Transfer Pricing, Uncertain Tax Positions, US Income Tax Compliance, WorkFlow Manager, Year End April 23, 2012

After a month-long search, we’ve narrowed your success story entries to 5 top finalists! Watch to learn how different tax departments have overcome challenges and improved their compliance process. Each day this week, vote by clicking “Like” on your favorite year-end success story !

Today’s featured story comes from The Cheesecake Factory:

After being over-reliant on manual data entry and time-consuming processes, like balancing the provision in Microsoft® Office Excel, this tax department turned to automation to streamline their compliance process.

“Balancing the provision in spreadsheets is usually the cause of all my late nights in January, and can take me up to a week. By doing the entire provision in ONESOURCE Tax Provision, I was able to save a week during year-end and not have to worry about getting the journal entry to balance in Excel.” – Michelle Nachman, Senior Tax Manager, The Cheesecake Factory

Michelle’s Year End Best Practice Tip of the Day:

When asked what she’d want other companies to learn from her process, Michelle shared:
“The provision can be done with minimal to no data entry to ensure accuracy of information. We use the Active Workpapers module of ONESOURCE Tax Provision, to bring in all of our adjustments which makes the entire process much quicker and easier.”

Like her story? Vote by clicking “Like” on her story (log in to your Google account) and help her win an iPad.

Have your own year-end best practice tips? Tell us your year-end success story today  by emailing: werelisteningonesource@thomsonreuters.com.   The best stories will be highlighted in the showcase!