RSM Finance Tax Pro for Dynamics 365

RSM’s Finance Tax Pro for Dynamics 365 leverages the power of base Microsoft Dynamics 365 Finance and Supply Chain Management applications, along with RSM’s custom-developed features, empowers corporate tax teams to effectively complete their tax reporting.

Corporate income tax is a critical part of the finance department impacting financial reporting and tax return filing obligations. Quite often with stand-alone tax software, data and processes are redundant, creating inefficiencies and duplication of effort to maintain data in multiple sources. This increases the likelihood of using inaccurate data for tax calculations and reporting. RSM’s tax reporting solution integrates components of the tax function with broader financial processes, thereby automating tax data collection, management, and reporting.

Key product features:

1. Mapped general ledger accounts to tax software vendor codes to support tax calculations
2. Automated calculation of permanent and temporary adjustments, and the ability to enter in manual tax adjustments
3. Viewable and exportable trial balance with main accounts, IRS tax forms, and tax adjustments data to assist in tax form preparation
4. Tax reports to support detailed analysis for corporate tax provision including trial balance by entity, deferred adjustments, tax provision, and effective tax rate

Key product benefits:

1. Integrates tax and financial processes and data into one solution
2. Creates a single source of truth for book and tax reporting
3. Leverages underlying financial processes and real-time data from one ERP system
4. Improves visibility, transparency, and auditability into the tax cycle preparation process across people, process, technology, and data
5. Shifts the tax team’s focus from manual reconciliation to strategic analysis and planning