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Tag Archive for small and medium businesses

3 “Must Haves” Of Tax Provision Software For Small & Medium Businesses

Stephen Day

Recently published surveys indicate that 50% to 70% of the tax departments in publicly traded companies exclusively use spreadsheets to manage ASC 740 processes. However, the percentage would be higher if the surveys focused strictly on small and medium businesses (SMB). These numbers have held steady the scrutiny of the last fifteen years relative to the tax areas of financial statement reporting and internal controls. The current provision offerings have not met the needs of SMB tax executives. If a technology solution wants to be an answer to the homegrown spreadsheets running the ASC 740 process, it must be accurate and comprehensive while being easy to use.

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