Leading cloud-based working papers solution MyWorkpapers is adding the numbers to its Personal Tax functionality by incorporating income statements into its popular platform.
Already used by thousands of accountants, auditors and advisors across the globe, the latest feature allows users to take full advantage of all the features of MyWorkpapers by bringing tax return data directly into the software.
The new feature provides an accounting structure and chart of accounts that map the items in a personal tax return, allowing for greater standardisation of the tax return process.
This new powerful ability is based on feedback from a number of user groups launched by MyWorkpapers in recent months, where it was a highly requested item from existing users.
“Having spoken to some of our top users it was clear that this feature was in demand within the industry,” said Rich Neal, MyWorkpapers CEO. “As a result, we have acted quickly and expedited this change so our users can achieve even more with our Personal Tax functions.”
The Personal Tax manual has long been a collation point within MyWorkpapers, a place where accountants and advisers can file the supporting information and the final return to keep everything in one place.
Activating the financial data is going to enhance the current process by rolling forward comparatives immediately, highlighting changes from one year to the next.
Rich Neal added: “Adding the financial data to our personal tax offering is a major step in becoming an essential tool in preparing and collating data ready to prepare the personal tax return.
“Having the numbers referenced against the supporting documents is going to allow the practice to have a more robust and cross-referenced process and ensure quality work”.