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.
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.
Deliver reports with confidence
Document assembly
Simplify the complex transfer pricing report assembly process with Workiva. Automate disclosures from a master file to multiple local files. Drive disclosure updates out across multiple local files, and ensure consistency. This allows for faster updates and a reduction in review time.
Centralize and automate all transfer pricing reporting data, processing, and document production into a common system of work. All the underlying work is in one place, increasing collaboration and governance—and more importantly, protecting the reputation of your business.
Accelerated reporting process
Achieve global standardization of transfer pricing documentation. With the Workiva platform, you can drive collaboration and improve efficiency across globally disparate entities and documents. Eliminate manual e-mail follow-ups by gathering local data from colleagues in a centralized environment. Streamlining regular transfer pricing activities can increase the frequency of running the transfer pricing process for your company.
Streamline internal reviews and local country signoffs. Your team can also provide controlled access to external auditors for a more efficient audit process.
Increased control and scalability
Connected data across systems and stakeholders
Connect data from multiple systems, data providers, teams, and locations in a secure cloud ecosystem. Automate data collection from local teams with strict access controls and permission governance, and automatically update all elements with any changes to the source data. Manage calculations for multiple entities or regions from a single platform. Connect the results of your data to all downstream reports.
Simplify the preparation, updates, and roll forward of statutory, country-by-country, master file, and local file reports, and more.
Greater insight into your transfer pricing data
Ensure process compliance and defense with robust revision history and blacklines. Recordkeeping is transparent and accurate thanks to the ability to attach support documents, comment, and issue approvals within the platform. That means you are always audit ready.
Access real-time status dashboards to monitor the changes and types of intercompany transactions across multinational enterprises allowing oversight of your transfer pricing Documentation reporting progress.
Transparent transfer pricing processes increase the frequency of analysis against benchmarks, which increase your ability to make informed business decisions throughout the year.
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.
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.
