Tax Reporting

Workiva supports tax transformation with connected reporting. Collect, manage, disclose, report, and analyze tax data and related documents in a single cloud platform.

  • Shorten your tax close process

    Connected tax data and teams

    Easily connect and exchange data between tax, accounting, and finance sources. Bring structured and unstructured data into a single ecosystem of connected workpapers and reports.

    Import data from ERP and financial consolidation systems. Leverage existing trial balance, financial statement, and other back-office reports.

    Create, manage, and maintain contemporaneous documentation, and collect supporting evidence and workpapers, all within the Workiva platform.

    Efficient tax statement preparation

    Efficiently manage your tax workpapers

    Drive efficiency and controls in your tax reporting process by optimizing the way you collect, manage, and report your tax data, including:

    • Tax provision calculations—federal, state, international
    • Intercompany adjustment calculations
    • Monthly tax account reconciliations
    • Statutory accounts—international tax calculations
    • R&D, WOTC, and other incentive tracking
    • Apportionment
    • Deferred roll forwards

    Streamline analysis and reporting with improved control and transparency of tax data activity going to and from tax point solutions.

    Accurately manage tax provision calculations
  • Deliver disclosures and reports with confidence

    Linked data across tax documents

    Respond to changing regulations quickly by connecting data from existing systems to create customized datasets for internal and external reports.

    Ensure consistency by linking data directly to tax documents without having to import and export to Excel®, Word®, PowerPoint®, and Visio®, including:

    • SEC footnote integration
    • Internal presentations
    • Transfer pricing documentation—master, local files
    • Audit committee slides
    • Org charts
    • Technical memos
    • Tax packages

    Excel, Word, PowerPoint, and Visio are registered trademarks of Microsoft Corporation in the United States and/or other countries.

    Collect and manage data

    Tax automation

    Connect text and data to ensure consistency across memos and schedules. When a change is made, all linked elements are updated. Rather than build reports from scratch every time, automate the roll forward and document duplication process.

    Collaborate securely with users, internal teams, advisors, and auditors from around the world in a single environment of live-linked spreadsheets, documents, and presentation decks. Eliminate version control risks, and ensure everyone is always working on the most recent report.

    Save time and resources
  • Manage transfer pricing documentation

    Collaboration across tax and financial reporting teams

    Connect data from multiple systems, data providers, teams, and locations in a secure cloud ecosystem. Automate data collection from remote users with strict access controls and permission governance, and automatically update all elements with any changes to the source data. Manage reports for multiple entities or regions from a single platform.

    Simplify the preparation, updates, and roll forward of statutory, country-by-country, master file, and local file reports, and more.

    Wdesk cloud platform data integrations

    Streamlined review and sign-off

    Take your processes paperless with built-in digital certification tools tailored for your cycle times. Templates, reminders, and robust tracking capabilities enable signers to review, approve, and sign off on any device without having to print a single sheet of paper.

    Track initial trial balance, adjusted trial balance, and tax reporting entities with full visibility into data history—all the way down to an individual sheet or cell. Outside workpapers are attached directly to the figures they support. Compare document versions side by side with blacklines.

    Easily manage workflow within the platform to ensure that reviews and sign-offs are completed on schedule.

    Wdesk cloud platform connectors and apis
  • Trust your tax reports

    Full data transparency

    Share the same data across legal, tax, and accounting departments without leaving the platform. Coordinate activities and manage due dates to support international, federal, and state timelines.

    Improve oversight on tax data with detailed authorship on data changes. Track changes from initial trial balance to tax entries—all the way down to an individual sheet or cell—with a full audit trail. Direct visibility is available across jurisdictions and tax types. Spend less time collecting and confirming data for tax reporting and more time on tax analysis.

    Full data transparency

    Accessible supporting documentation

    Wdesk provides a single location to quickly access documents. Upload and attach supporting tax workpapers and other evidence, such as fixed asset reports, directly to spreadsheet cells or document text for easy availability to external auditors and regulators.

    Collaborate with internal and external stakeholders, leveraging role-based permissions. Control who can access, view, and edit data and text. Communicate within the platform, and provide feedback using directed comments.

    Easily manage supporting documentation

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  • Using the Workiva solution for our tax provision and reporting process allowed us to shorten our tax close by one week—without replacing our existing financial systems and tax compliance software.

  • From a global perspective, the Workiva platform is the single source that everybody uses. That really makes a big difference in the document.

  • The first thing I'd tell another professional is, 'You have to take a look at Workiva. It saves you time, it saves you effort, and it gives you comfort that you have control of the document from beginning to end. And not only that, once you get the data to populate your reports, it's there to use for a plethora of other types of projects, reports, or whatever.'

  • Consultants and external auditors have seen an improvement in the quality level of our documentation.

  • We’ve expanded the use of the Workiva platform from simple financial reporting to other compliance efforts that help us reduce the cost of complying with those rules and regulations.

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