Tech News: Avalara unveils sales tax calculator for ChatGPT

June 16, 2023 9:00 AM

Avalara releases ChatGPT plugin for calculating sales tax; Deloitte launches a cloud-focused security and compliance service; and other accounting technology news.

Avalara unveils ChatGPT plugin

Avalara CEO Scott McFarlane, center, at the company's 2018 IPO on the floor of the New York Stock Exchange.

Michael Nagle/Bloomberg

Tax compliance solutions provider Avalara launched a new plugin for ChatGPT that allows users to calculate and research sales tax rates based on their location. Those using the plugin can then ask the chatbot things like how much sales tax should apply to the $150 sneakers someone is selling or buying in Seattle (answer: $15.37). Businesses and consumers who have ChatGPT Plus accounts can install the Avalara plugin from ChatGPT's plugin store. Once the plugin is installed, users can ask ChatGPT for sales tax rates by location or to calculate sales tax on a specific sale by location. ChatGPT will choose when to use the plugin based on the question and conversation. Users will also be able to enter further prompts or request additional tax rates or calculations. Avalara worked directly with OpenAI (the company behind ChatGPT) to develop the plugin; it is the first tax compliance software provider to do so.

Deloitte launches cloud-focused security and compliance service

Daniel Leal-Olivas/AFP/Getty Images

Big Four firm Deloitte announced that, in cooperation with Amazon Web Services, it has launched a cloud-focused security and compliance service called ConvergeSecurity. It aims to help enterprises accelerate their cloud transformation efforts through a combination of AI-enabled cloud security and compliance product solutions, consulting expertise and tailored resources leveraging security threat intelligence and Amazon Security Lake, all in conjunction with the AWS Global Partner Security Initiative. By leveraging Amazon Security Lake and Amazon Bedrock, a Foundation Model API Service, and Deloitte's security and compliance services, ConvergeSecurity is designed to allow enterprise customers to analyze large volumes of data, allowing threats to be detected earlier and incidents to be resolved through automation.

Thomson Reuters enhances tax and accounting products

Thomson Reuters, which among other things provides business software, announced recent innovations and improvements to products in its tax and accounting suite. The recently acquired SurePrep now sports enhanced integration with GoSystem Tax RS, which allows for real-time data exchange between these two applications; Checkpoint Engage Single Audit has been streamlined and simplified; Checkpoint Engage Single Audit now lets users access Advisory Maps that provide an end-to-end workflow for delivering tax planning and advisory processes, which provides step-by-step guidance and implementation aids; and UltraTax CS includes additional on-screen prompts, links to key help topics for over 150-plus common e-file rejections, and a new forms and e-file approval dashboard where customers can see real-time updates on the availability of the products they use.

NetSuite Account Reconciliation released as part of cloud ERP suite

Business software software provider NetSuite released its NetSuite Account Reconciliation solution. The new solution automates the reconciliation process for accounts payable, accounts receivable, bank and credit card transactions, prepaid accounts, accruals and fixed assets accounts, intercompany transactions and other balance sheet accounts. It provides visibility into the reconciliation process, sorts information for global auditability, sends notifications to help keep teams on track and audit ready, and uses dashboards to see the real-time status of reconciliations and variance details. It also features 20 prebuilt templates and formats, a transaction-matching engine and a secure document repository.

QBOA goes global

Intuit's Ariege Misherghi speaking at QuickBooks Connect

Intuit announced that QuickBooks Online Accountant will now have free global online access, allowing professionals in over 170 countries to use the platform. Developed with a select group of accountants globally over the past 12 months, QBOA - Global Edition features a suite of benefits to help professional accountants move to the cloud faster and drive greater efficiency and scalability of their firms. The Global edition of QuickBooks Online Accountant has the same workflow features U.S. accountants have been accustomed to using in order to drive practice efficiency and streamline client communication, according to an Intuit spokesperson. The platform also supports wholesale billing in four currencies ( USD, EURO, MYR and HKD ) to set up new clients. Similar to other regions, training and certification are also available in products providing users with self-paced learning with the option to take a certification exam. The product remains free of charge for accounting professionals.

New product uses AI to anonymize, redact and mask

TrialAssure, a clinical trial transparency and data sharing solutions provider, released its new Trusano product, which uses AI to anonymize, redact and mask information in a document. Users upload a document, and then Trusano's AI engine scans the text for any potential personally-identifying information, including names, dates, addresses, and other key items. The software then categorizes these findings and generates a set of recommended anonymization rules that allow the text to be transformed in a way that retains as much utility as possible, while protecting the identity and privacy of individuals. Before finalizing changes, users can review all suggested anonymizations and the system will auto-update the rule set applied to the document based on reviewer feedback.

Other news

LeaseCrunch, a lease accounting solutions provider, announced its upcoming webinar "GASB 96 Survival Guide: Navigating the Maze of Compliance with Confidence." The webinar is taking place June 21 at 1:00 p.m. CDT and will offer an implementation road map to help participants navigate the complexities of GASB 96. Led by Jess Vento, senior director of accounting at LeaseCrunch, the webinar will delve into the clear responsibilities that each team member should undertake, to ensure a coordinated and efficient implementation process… Crypto accounting platform Ledgible said it has joined The Alternative Investment Management Association (AIMA), the global representative of the alternative investment industry. With around 2,100 corporate members in over 60 countries, AIMA's fund manager members collectively manage more than $2.5 trillion in hedge fund and private credit assets. Ledgible will support and educate AIMA members on tax and accounting for crypto to support crypto asset management and adoption.