Web-Based Financial Software centralizes tax reporting/planning.

Wolters Kluwer Financial Services Feb 04, 2011

Press Release Summary:

To simplify provisioning calculations, Global Integrator eliminates manual processing of direct taxes and automates global tax data collection. Integration with ProSystem fx Tax helps ensure accuracy as well as streamline and automate core tax provision and compliance areas. Allowing companies to calculate US taxes at federal and state levels, solution provides clear reconciliation from reporting Generally Accepted Accounting Principles and satisfies FAS109 requirements.

Original Press Release:

CCH Launches Global Integrator, with Integration to ProSystem fx Tax

Now, from a Single Platform: Integrated Tax Reporting, Compliance and Planning

RIVERWOODS, Ill. -- Companies looking to simplify provisioning calculations, eliminate manual processing of direct taxes and automate global tax data collection can turn to the tax compliance expert CCH for its web-based solution, Global Integrator. And now, CCH's Global Integrator offers even greater advantages as it integrates with the market-leading ProSystem fx Tax for streamlined tax reporting, compliance and planning from a single platform. CCH, a Wolters Kluwer business, is the global leading provider of tax, accounting and audit information, software and services (CCHGroup.com).

"Companies that do business in multiple locations - either domestically or globally - face unique challenges related to tax accounting, provisioning, reporting and compliance," said Thomas Stitt, CCH Director of Corporate Market Strategy. "As the global leader in tax compliance, CCH now offers a new solution, Global Integrator, integrated with ProSystem fx Tax, that helps tax professionals overcome those challenges with ease and confidence."

Global Integrator helps multinational organizations ensure accuracy and streamline and automate core tax provision and compliance areas. It's a web-based solution that provides anytime, anywhere data collection, analysis and tax reporting globally. Global Integrator was acquired by CCH from Ernst & Young, and further advances CCH's capability in serving global corporate customers. And, professionals who already benefit from ProSystem fx Tax can realize even greater accuracy, efficiency and productivity now that it's integrated with Global Integrator.

Eliminates Manual Processing

Global Integrator eliminates manual processing of direct taxes globally through a number of automation and control features. These include automated loading of trial balance and fixed assets data, standardization and automation of tax adjustments and loading of late accounting adjustments, automated currency conversion and consolidation, and a flexible tax basis balance sheet.

Simplifies Calculations, Ensures Compliance

Global Integrator also automates and standardizes tax calculations and reporting to processes for improved risk management. This includes enabling multinational organizations to calculate the current and deferred taxes of entities in compliance with local tax rules and International Financial Reporting Standards (IFRS).

It also provides organizations a clear reconciliation from reporting Generally Accepted Accounting Principles (GAAP) to local GAAP, to local basis, and allows companies to calculate U.S. taxes at a federal and state level (including appointment calculations).

Satisfies FAS109 Requirements

Global Integrator also helps organizations meet their FAS109 requirements by helping:

-- Identify permanent and temporary differences;
-- Calculate current income tax expense and deferred income taxes;
-- Calculate deferred tax assets and liabilities;
-- Determine the need for a valuation allowance;
-- Record the calculations on financial statements; and
-- Prepare financial statement footnotes.

"Tax directors face significant tax provisioning and compliance challenges, and they need integrated authoritative information and productivity tools to help them," said Stitt. "Companies looking for a combined solution can use Global Integrator and ProSystem fx Tax toallow companies to streamline business tax returns, as well as meet additional corporate tax compliance requirements such as domestic or global provisioning."

For More Information

For more information about Global Integrator, please call 1-866-513-CORP (1-866-513-2677) or visit CCHGroup.com/GlobalIntegrator.

About CCH, a Wolters Kluwer business

CCH, a Wolters Kluwer business (CCHGroup.com) is the leading global provider of tax, accounting and audit information, software and services. It has served tax, accounting and business professionals since 1913. CCH is based in Riverwoods, Ill. Wolters Kluwer (www.wolterskluwer.com) is a market-leading global information services company.