Bloomberg Tax Introduces Controlled Calculations for Workpapers
Bloomberg Tax has launched Controlled Calculations for its Workpapers, aiming to replace spreadsheet-driven state tax calculations with greater confidence and efficiency for tax teams.
ARLINGTON, Va. – Bloomberg Tax announced today the release of Controlled Calculations for Bloomberg Tax Workpapers. This new capability is designed to enhance the accuracy and transparency of state tax calculations for tax professionals.
The feature aims to substitute traditional, often error-prone, spreadsheet-based workflows. By implementing controlled calculations, tax departments can achieve greater confidence and efficiency in managing state taxes, reducing manual effort and associated risks.
According to Bloomberg Tax, the Controlled Calculations functionality provides enhanced control and traceability throughout the tax process. This is particularly relevant amidst evolving tax legislation that demands precise and up-to-date information.
This new addition is part of Bloomberg Tax's ongoing efforts to deliver comprehensive tax management solutions. It is expected to streamline calculations and minimize errors in complex state tax scenarios.