SnapFulfil Cloud WMS for NetSuite
Back to products
Fiix CMMS

Thomson Reuters ONESOURCE Determination for NetSuite

Status: Unverified

ONESOURCE Determination is a tax calculation engine that determines and stores Sales and Use Taxes, VAT, and GST on all business sales and purchases across ERP, eCommerce, CRM and other transaction systems globally. As a co-development partner of the SuiteTax API, our seamless integration meets your unique business demands while delivering accuracy that extends the power and reach of NetSuite.

View on Suiteapp.com

Categories: , ,
Description

Industry standard for sales tax, use tax, VAT and GST

Even the most powerful ERP systems can’t handle the complexity of global transaction sales tax and use tax compliance — which leaves your staff to fill in the gaps. That’s why we’ve integrated Thomson Reuters ONESOURCE Determination with Oracle® NetSuite so your teams can get taxes right, the first time, every time.

Key Benefits

ONESOURCE Determination integration for NetSuite makes it easy to stay on top of constantly changing indirect tax rates and determine your company’s liability for sales tax, use tax, GST, VAT, excise tax, and other country-specific taxes regardless of your corporation’s size or geographic reach. Better manage tax liability through our seamless integration with your existing sales and purchase process.

  • Seamless pre-built integration with NetSuite to support end-to-end tax determination & compliance.
  • Central repository for global tax rates and rules covering 205 countries and territories in 56k jurisdictions across the globe.
  • Native cloud capabilities that automate new tax rate and rules with no down-time updates; achieve up to 95% reduction in coding requirements due to tax changes.
  • Easily apply your tax policy consistently across your business & collaborate across regions with our cloud-native solution.
  • Reduces time for manual and redundant indirect tax and compliance processes by 50%.
  • Substantial reduction in manual effort and errors with a sharp increase in efficiency amounting to Indirect tax automation of 90 to 95%.
  • Trusted reporting you need to reduce risk & ensure that your sales tax calculations are accurate.
  • Better Manage Tax Liability

Better Manage Tax Liability

ONESOURCE handles everything from tax calculation and certificate management to reporting and filing returns. From reverse charges and tax only credit memos to recoverability and partial recoverability, ONESOURCE Determination Integration for NetSuite delivers real-time tax decisions at the point of transaction, directly to your existing NetSuite platform.

FEATURES

Verified security

Rest easy knowing your data is secure and protected on a cloud hosting platform with up to date, ISO 9001, and ISO 27001 certified compliant systems.

Global tax calculation

Get real-time global tax calculations on NetSuite transactions in order-to-cash and purchase-to-pay business processes. Make filing and audit defense easy with built-in, customizable reports and signature-ready returns using Indirect Tax.

Trusted tax content

Avoid penalties by relying on our automated indirect tax engine for accurate tax calculations. Automatic updates ensure you get the latest content from thousands of global tax authorities, certified compliant to SSAE 18 and ISAE 3402 standards. Easily map to the most comprehensive set of product and service categories for accurate calculations in every jurisdiction. We support a wide range of countries including, but not limited to, Austria, Belgium, Denmark, Finland, France, Germany, Ireland, Italy, Luxembourg, Malta, Netherlands, Poland, Portugal, Spain, Sweden, United Kingdom, Liechtenstein, Norway, Switzerland, Mexico, the United States of America, India, Brazil, and Canada.

Address validation and certificate management

Quickly cleanse, verify, and store addresses with USPS CASS-certified address validation. Ensure customer transactions are correctly exempted and certificates stay up to date with integrated certificate management.

Integration resiliency meets unmatched flexibility

Achieve the highest degree of business continuity and tax accuracy with system monitoring and fall-back workflow. Set up custom fields to drive accurate tax calculations for unique industry, customer, or country scenarios.