TaxSolver 4.2 Reduces Manual Sarbanes-Oxley Compliance


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Sarbanes Oxley : Finance

TaxSolver 4.2 Reduces Manual Sarbanes-Oxley Compliance

Jayme Fishman
Sr. VP of Sales & Marketing
Taxware

Taxware, a leading provider of tax calculation and compliance solutions and subsidiary of First Data Corp. (NYSE: FDC), today announced the launch of TaxSolver 4.2, the industry?s first tax return generation software package to include Sarbanes-Oxley compliance functionality. With this new release, users easily can view their current liability (i.e. tax calculated) versus compliance profile (i.e. tax remitted) from a sales tax return perspective. These new abilities make possible both the creation of reports for audit purposes and an unmatched level of control for tax directors working to meet upcoming compliance deadlines.

?Our customers believe that Sarbanes-Oxley compliance is the most critical issue they encounter,? said Jayme Fishman, Taxware?s senior vice president of sales, marketing and business development. ?With TaxSolver 4.2, enterprises are presented with a streamlined summary of their compliance situations, allowing them to identify quickly any trouble areas, and deploy resources accordingly.?

Compatible with Taxware?s Sales and Use Tax System, as well as non-Taxware tax data sources through import capabilities, TaxSolver processes and converts imported data to automatically generate tax returns, allowing an enterprise?s accounting staff to focus on high-value financial activities, while automating tax form completion. TaxSolver will assign and track payment information, schedule filing frequency and estimate payments, while automatically incorporating updated tax forms and rates each month.

TaxSolver Product Highlights
• Addition of ReportSolver, which quickly provides a Sarbanes-Oxley compliance profile as well as current liability
• Support for non-Taxware data imports through a connector feature
• Enhanced print payment requests feature for printing paper check requests
• Ability to create electronic payment requests for exporting payments
• New payment account maintenance screen provides the ability to pre-assign appropriate accounts to their tax liabilities
• New vendor mapping feature allows the assignment of vendor ID numbers
• New user entrances feature gives an alternative way to update large numbers of company-specific records at once
• Enhanced user exits feature that provides a means for retrieving data for use in external report writing applications, including Import Validation, Accounts Payable and Vendor ID reports

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