Empowering The Tax Department With ERP And Tax Depreciation Integration

Sponsored By BNA Software

Topics:

Accounting > Tax

Business Software > ERP

Finance & Risk Management > Expense Management

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Abstract:

The needs of the financial accounting and the tax accounting processes are very different. The tax code and associated tax treatment of capital assets continues to evolve. We have just seen the reoccurrence of bonus depreciation and are likely to see additional changes to the depreciation rules in the coming years. The ability to change quickly, however, is not a strength of the ERP system. To function effectively in this ERP world, corporate tax professionals first need a way to properly manage fixed assets and depreciation. Second they then need to integrate these tax capabilities with the ERP system for consistent, up-to-date data across the enterprise. The answer is to deploy a best-of-breed tax depreciation system that supports both accounting and the tax departmentıs individual needs and integrates seamlessly with ERP and tax compliance software for a closed loop process. This paper takes a closer look at how this combination delivers the best of both worlds for the corporation.

DETAILS

Sponsored by: BNA Software

Released: September 02, 2009

Length: 4 pages

Format: PDF (511 kb)

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