The Tax Automate Platform prepares and fully automates the accounting for income tax and tax return processes. It extracts your data, performs classifications, calculations and generates outputs for analysis and submission. The automated outputs include (but are not limited to) the population of:
Statement of Taxable Income
Closing Deferred Tax
Movement in Temporary Differences
Tax Asset Reconciliation
Tax journals and tax notes
Form C Disclosures.
Allow your teams the freedom to perform value-adding work and remove manual, time consuming processes.
Tax Automate has been designed and developed by tax professionals at PwC. The unique collaboration with tax specialists allows the cloud-based platform to be updated or customised in accordance with your business structure, tax processes or changes to legislation.
The application is agnostic to information systems such as ERPs and general ledgers, and can facilitate both structured and unstructured data sources.
Deploying an enterprise tax automation tool generates significant internal efficiencies. Tax Automate can automatically process tax adjustments, workpapers and other routine computations such as:
Distribution Statements for investments
Controlled Foreign Corporation calculations
Any other calculations relevant to your business.
De-risking existing manual processes
PwC understands the major financial and compliance risk associated with manual processes. By deploying an automated tax solution, businesses can mitigate the risk of transpositioning errors associated with excel spreadsheets. Tax Automate has the ability to track changes, manage versions and provide one source of truth for all your data.
Furthermore, the cloud based solution mitigates the risk of employee turnover and key person dependency. Clients have the freedom to easily access their data through the cloud-based web application, instead of employee hard drives.
A simple and user-friendly design
Tax Automate’s user-friendly interface is intuitively designed, easy-to-use and provides a truly seamless experience for users. There are no complicated user manuals or difficult navigation panels. The Tax Automate platform has been carefully designed for users to manage complicated tax processes, in a clean and simple environment. This includes:
Clean navigation panels
Simple drill-down functionality to give full visibility of the data behind each calculation
The ability to track changes made on each workpaper
Copy and paste functionality from an external excel file, directly into a Tax Automate workpaper.
Mastering data ownership and analytics
The Tax Automate Platform provides full control and ownership of all data inputs and calculations, along with dynamic integrated visualisation dashboards. Tax Automate users have a customised dashboard so they can easily review, analyse and forecast business performance.
With the ever growing compliance obligations and regulatory scrutiny, having full visibility and understanding over large volumes of data is critical. The Tax Automate Platform provides enterprises with a solution to eliminate manual processes and focus on data and compliance integrity.