Corporate Income Tax Software

Benefits of Database Architecture

When a company invests in a corporate income tax software solution, they not only need the architecture of that software to meet their business needs but also their IT standards. Tax software that offers architectural compatibility with popular relational databases such as Microsoft SQL and Oracle provides companies with an corporate income tax calculator solution that delivers top-of-the-line capabilities for increased efficiency, reduced total cost of ownership (TCO), and lower operational costs.

A variety of helpful capabilities can be provided by corporate income tax solutions that leverage database architecture, such as:

General Ledger Integration - Streamline integration with third-party accounting software data, providing tax professionals with the ability to populate account charts of the new tax software with data from the existing products. Additionally, data from multiple general ledgers and time periods should be easy to manage by categorization of all relevant income tax data.
Customized Account Charts - Creation of charts of accounts that mirrors a business's own general ledger with complete control over the processes of data mapping.

Information-Based Income Tax Software

Effective corporate income tax services should also be built as an information-based system so that it can do more than just store tax data and produce returns. Corporate tax professionals should be able to access and re-use tax information for other tasks, such as planning, estimating, and projecting. With such a tax solution in place, traditional income tax processing will be transformed by such benefits as:

Audit-Ready Tax Returns - With automated tax return processes that provide clear audit trails, the preparation of tax returns can be incredibly efficient and effortless.
Tax Planning Through Historical Information - The ability to easily harvest and analyze tax data for better planning can significantly lower TCO.
Use of Provision Data for Compliance - The ability to easily share and re-use provision information as a basis for the consolidated tax return provides tax professionals with a starting point when developing returns.
Automated State Returns - The automatic population of data into state tax forms can save time normally spent calculating numbers, manually keying in general ledger data and entering information into electronic forms.

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