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  3. Thomson Reuters APIs for tax & accounting firms

Tax and accounting APIs

Transform data into intelligent action

The next step for your forward-thinking tax and accounting firm

Now more than ever, tax and accounting firms like yours need the flexibility to integrate technology solutions. With our available Application Programming Interfaces (APIs), you can integrate select Thomson Reuters tax and accounting solutions into your systems, workflows, and processes, allowing you to do more in less time. The powerful combination of market-leading solutions from Thomson Reuters with your firm’s data provides endless ways to surface valuable insights.

With tax and accounting APIs, you can:

  • Automate key processes and reduce hours spent on non-billable work
  • Avoid entering data manually to reduce the risk of errors
  • Increase visibility of client needs with connected solutions
  • Connect otherwise disconnected third-party systems
  • Gain insights for analysis and decision support

Advantages of flexible API technology

Complete work faster

Automate manual processes and integrate solutions to streamline your workflow.

Improve firm value

Shift high paying staff from tactical work to focus on higher value advisory services.

Ensure data integrity

Trust your data is accurate, traceable, and secure with a single reliable source.

Make informed decisions

Gain insight into daily workflow activity to better manage staff needs and decision support.

FAQs

Looking for more information? Check out some of the most common questions here or contact your rep.

  • Application programming interfaces (APIs) are software code that let one application access and use the features or data of another application. An API specifies how software components should interact. Simply put, think of the API as a handshake between two different and separate applications.

  • How your firm uses the available APIs will depend on your workflow and other services that you use. To get started, ask your staff for the problems they wish could be addressed – think about clicks and steps in your current process that could be eliminated. It is critical to debrief and share out impediments to facilitate a culture in support of innovation.

    In general, our available APIs allow you to:

    • Automate key processes and reduce hours spent on non-billable work
    • Avoid entering data manually to reduce the risk of errors
    • Increase visibility of client needs with connected solutions
    • Connect otherwise disconnected third-party systems
    • Gain insights for analysis and decision support

    Some sample use cases, include:

    • Set up document security permissions for clients which have been outsourced
    • Automatically file different e-Signature applications into GoFileRoom as documents
    • Create and deactivate GoFileRoom users via an Excel spreadsheet import
    • View FirmFlow data in Business Intelligence applications such as Power BI or on mobile devices
    • Retrieve a client list, submit an e-File, retrieve an e-File acknowledgement, etc.
  • A connector is a user-friendly wrapper around an API, hiding the complexity of APIs, allowing its users to quickly wire multiple apps together - all without having to know the inner workings of the APIs. A connector makes it easy for you to leverage APIs, with visual features such as drag and drop, lessoning the need to be a developer.

    Thomson Reuters partnered with Microsoft and Zapier to release GoFileRoom connectors. GoFileRoom users can now automate GoFileRoom processes by connecting to the Microsoft Power Platform ecosystem. You can combine these actions together to create automation within your firm processes, such as:

    • New staff onboarding: import a Microsoft Excel spreadsheet to create new GoFileRoom users
    • Mobility/automation: create a PowerApp which allows you to take a picture of a document and then gets added as a PDF to GoFileRoom
    • Integration: retrieve a document back from e-Signature applications and then have it automatically saved to GoFileRoom

    Zapier's GoFileRoom app lets you connect GoFileRoom to more than two thousand other web services. Automated connections called Zaps, set up in minutes with no coding, can automate your day-to-day tasks and build workflows between GoFileRoom and other apps that otherwise wouldn't be possible. The GoFileRoom actions available within the Zapier platform are focused around user and group management. For example, you can automate the way in which users and groups are created and updated.

  • The Thomson Reuters Marketplace is an online store where users can research a wide range of trusted applications, solutions and services that can add greater value to the technology investments your firm has already made in Thomson Reuters solutions. Marketplace offers key integrations for tax and accounting professionals and it offers an industry advantage through its “proven path” of vetted applications that seamlessly integrate with Thomson Reuters products and technology, offering a greater return on investment. Thomson Reuters will continue to expand Marketplace, growing the offerings for legal, tax and accounting professionals as well as adding solutions for government and regulatory customers. Check out the Thomson Reuters Marketplace to preview and connect with validated third-party partners.

    Example marketplace solutions for tax and accounting professionals:

    Alteryx supports everything from data prep and blending to putting machine learning models to use. The Alteryx platform complements the automation capabilities of Thomson Reuters ONESOURCE and GoSystem Tax RS by providing a user-friendly application to help tax professionals access and manage tax data. Tax calculations often require data to be pulled from multiple, disparate sources. Without Alteryx, collecting and formatting this information, and then turning it into insights, can be a complicated and tedious process.

    Ledgible by Verady provides AICPA SOC assured tax reporting and portfolio tracking for crypto assets. The Ledgible platform is the proven crypto asset solution for professionals in use at leading accounting firms and major crypto companies around the world. Ledgible Tax Pro is used by hundreds of firms to make tax reporting easy for their professionals and clients. Through our collaboration, Ledgible integrates seamlessly with both GoSystem Tax and UltraTax and is the exclusive data provider for Thomson Reuters.

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Find out how you can be more efficient and drive new business with these available Thomson Reuters tax and accounting APIs.