Asset Accountant for Fixed Assets

Have your tax fixed asset reconciliations given you a headache in year-end reporting?

If you are like most corporate tax accountants, then reconciling your accounting and tax base for fixed assets in order to obtain confidence over your deferred tax balances is not easy. The process from record to report for fixed assets is opaque. The lack of reliable source data and absence of structured, systemic, well-controlled maintenance of both accounting and tax data fixed assets is cause for concern.

Some tax teams have tried to remediate the problem through various solutions, either extending their ERP to maintain their tax base or maintaining a separate fixed assets tax book in Excel or some other bolt-on. Generally speaking, these solutions address part of the problem but often introduce others.

There is a clear need for a solution that manages both the accounting and tax bases in a structured form that can be confidently relied upon by tax and finance, improving certainty in deferred tax balances.

Andrew Danckert and Jim Edwards have spent the last 9 months getting to know AssetAccountant™ and speaking with their customers to get their views on the software. We have been very impressed with the findings and as a result, Cumulus Tax is now formally signed up as implementation partners.

Let us know if you want some independent review and advice around your tax fixed assets process including the technology options available to improve control and automation.

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