News

Added value provided by Deferred Tax software

03 May 2006

The ability to calculate deferred tax balances in Digita Deferred Tax using data imported from Digita accounts production adds specific value to accountancy practices particularly as growing compliance requirements have made speed and reliability of reporting paramount.

Digita Accounts Pro Product Manager, Simon Witkiss said:

"Our deferred tax module works intuitively with Accounts Pro by importing financial data which can then be adjusted for tax, resulting in a fast and reliable estimate of the future tax consequences of transactions recognised in the financial statements for FRS 19 purposes."

"Additionally, the Deferred Tax module interfaces with Digita corporation tax. This calculates accelerated capital allowances automatically from data entered in the capital allowances and fixed asset reconciliation, rolls forward balances, deals with both balance sheet and profit and loss calculations and provides a proof of tax reconciliation report."

Melanie Downton of Bournemouth based practice Princecroft Willis commented:

"Digita’s deferred tax module is user-friendly and accurate. The import from accounts production ensures the correct figures are used for the calculation and the proof of tax provides reassurance that the final figures are precise. It is nice to find a programme which links accounts, corporation tax and deferred tax."


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