Over-dependent on spreadsheets for tax reporting?
How to balance your tax technology and Excel
Microsoft Excel has long been the old friend of accountants. Familiar, if cumbersome, it would be difficult to find an Australian business that does not use spreadsheets in some form to handle its data and analytics.
But a lot has changed since it was launched in 1985. As tax compliance and reporting has become more onerous and time consuming, an array of sophisticated accounting software has entered the market to help organisations focus on their core strengths.
While the use of manual spreadsheets as a way of collecting data still has its place, an over-dependence or misuse can have a huge impact on an organisation’s productivity, risk exposure, and bottom line.
We speak to specialists from BDO Australia, KPMG Enterprise, and the Corporate Tax Association about why it is essential to have the right tax and accounting technology tools for easy and accurate tax compliance and reporting, data analysis, interdepartmental collaboration, and to ensure greater data security.