Gaining efficiency and accuracy via automation
With corporate income tax representing a significant cost to business, there is a focus by companies and their auditors to forecast and closely monitor their tax expense throughout the year. Multinational companies have the added complexity of having to manage their tax affairs in multiple jurisdictions. The risk of error in the calculation of taxes is high.
Automating tax reporting where it makes sense:
- Provides confidence in the accuracy of tax calculations
- Speeds up reporting
- Reduces time spent on the reporting cycle
- Helps to increase staff retention
- Loading trial balance data can be automated and rules can be defined in order to automate tax calculations and assist in deriving the required journal entries.
The more frequent the calculation is performed, the more opportunity there is to benefit from automation with a global tax solution such as CCH Integrator.
CCH Integrator is a streamlined and automated tax compliance and reporting solution that allows you to:
- Customise data collection schedules and questionnaires to suit individual reporting needs
- Prepare Tax Accounting calculations for any country globally
- Integrate the accounting for income tax and return preparation process
- Automate many aspects of preparation and calculation
- Streamline reconciliations with automated edit check
- Create workflow processes for simple deliverable tracking or more detailed, end-to-end engagement management