Use Case
Analyze, organize and manipulate large amounts of data from multiple sources
Get insight into the application of tax codes to R&D costs
Replace spreadsheets with dedicated analytics, spend less time collecting transactions and devote more time to analyzing data
To accurately calculate the credit, tax accountants need to collect data on all R&D activities including staff hierarchies, wages, tax rates and time and materials allocated to R&D. Specifying and collecting the data manually from internal systems is time-consuming, especially when it comes to handling sensitive data from each group. Some tax professionals resort to their own end-user-developed applications (EUDAs) to perform calculations and allow for manual adjustments and allocations.
Automating R&D calculations with analytics allows companies to review every transaction and maximize the tax credit. Operating on sources as diverse as HR data, expenses, tax rates and country data, analytics can follow staff/departmental hierarchies, allow for adjustments and perform complex calculations.
By automating R&D tax calculations, you can:
