CCH launches Global Integrator with integration to ProSystem fx Tax
Companies looking to simplify provisioning calculations, eliminate manual processing of direct taxes, and automate global tax data collection can turn to tax compliance expert CCH for its Web-based solution, Global Integrator.
And now, CCH's Global Integrator offers even greater advantages as it integrates with the market-leading ProSystem fx Tax for streamlined tax reporting, compliance and planning from a single platform. CCH, a Wolters Kluwer business is a global leading provider of tax, accounting, and audit information, software, and services.
"Companies that do business in multiple locations - either domestically or globally - face unique challenges related to tax accounting, provisioning, reporting, and compliance," said Thomas Stitt, CCH director of Corporate Market Strategy. "As the global leader in tax compliance, CCH now offers a new solution, Global Integrator, integrated with ProSystem fx Tax, that helps tax professionals overcome those challenges with ease and confidence."
Global Integrator helps multinational organizations ensure accuracy and streamline and automate core tax provision and compliance areas. It's a Web-based solution that provides anytime, anywhere data collection, analysis and tax reporting globally. Global Integrator was acquired by CCH from Ernst & Young, and further advances CCH's capability in serving global corporate customers. And, professionals who already benefit from ProSystem fx Tax can realize even greater accuracy, efficiency, and productivity now that it's integrated with Global Integrator.
Eliminates manual processing
Global Integrator eliminates manual processing of direct taxes globally through a number of automation and control features. These include automated loading of trial balance and fixed assets data, standardization and automation of tax adjustments and loading of late accounting adjustments, automated currency conversion and consolidation, and a flexible tax basis balance sheet.
Simplifies calculations, ensures compliance
Global Integrator also automates and standardizes tax calculations and reporting to processes for improved risk management. This includes enabling multinational organizations to calculate the current and deferred taxes of entities in compliance with local tax rules and International Financial Reporting Standards (IFRS).
It also provides organizations a clear reconciliation from reporting Generally Accepted Accounting Principles (GAAP) to local GAAP, to local basis, and allows companies to calculate U.S. taxes at a federal and state level (including appointment calculations).
Satisfies FAS109 requirements
Global Integrator also helps organizations meet their FAS109 requirements by helping:
- Identify permanent and temporary differences;
- Calculate current income tax expense and deferred income taxes;
- Calculate deferred tax assets and liabilities;
- Determine the need for a valuation allowance;
- Record the calculations on financial statements; and
- Prepare financial statement footnotes.
"Tax directors face significant tax provisioning and compliance challenges, and they need integrated authoritative information and productivity tools to help them," said Stitt. "Companies looking for a combined solution can use Global Integrator and ProSystem fx Tax to allow companies to streamline business tax returns, as well as meet additional corporate tax compliance requirements such as domestic or global provisioning."
For more information about Global Integrator, call (866) 513-2677, or visit CCHGroup.com/GlobalIntegrator.
About CCH, a Wolters Kluwer business:
CCH, a Wolters Kluwer business is the leading global provider of tax, accounting and audit information, software and services. It has served tax, accounting and business professionals since 1913. Among its market-leading solutions are The ProSystem fx Suite, CorpSystem, CCH IntelliConnect, Accounting Research Manager and the U.S. Master Tax Guide. CCH is based in Riverwoods, Illinois. Wolters Kluwer is a market-leading global information services company. Wolters Kluwer is headquartered in Alphen aan den Rijn, the Netherlands. Its shares are quoted on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices.