Tech News: Bloomberg Tax Provision integrates domestic U.S. tax rates for first time

Tech News: Bloomberg integrates domestic U.S. tax rates

September 30, 2022 11:11 AM

Bloomberg Tax Provision integrates domestic U.S. tax rates; Intuit announces new commerce accounting capacities for QuickBooks; Avii offers new core and enhanced versions of Avii Workspace; and other updates from the accounting technology world.

Bloomberg integrates domestic U.S. tax rates

A printout of Congress's tax reform bill, "The Tax Cuts and Jobs Act," alongside a stack of income tax regulations

Bloomberg Tax Provision has now integrated domestic U.S. tax rates in the first integration of Bloomberg Tax Research and Bloomberg Tax Provision. Tax rate data is currently available for federal returns, all U.S. states, Washington, D.C., and New York City. Future rate deliveries will include foreign tax rates from Bloomberg Tax Research, enabling users to keep track of the latest tax rate changes within the software.

New commerce accounting capacities for QuickBooks

Intuit unveiled commerce accounting capabilities for QuickBooks Online, automating accounting across Amazon, Shopify and eBay e-commerce stores. Users will be able to link with these sites to import sales and payout data into QuickBooks and map them to the right accounts; automatically break down revenue, taxes and fees across state channels, mapped to the bank deposits; access insights into sales, revenue and top-selling products; run reports on business performance across sales channels; and use automated financial breakdowns to maximize deductions.

New core and enhanced versions of Avii Workspace

Thumbnail for Video: Finding Value in Portals

Avii, an accounting workspace and portal platform, unveiled core and enhanced versions of its Avii Workspace solution. Avii Core, an entry-level software-as-a-service solution, offers a client workspace plus portal, an employee workspace plus portal, document organization and exchange, document storage on Avii or through integrations with third party storage, project management and dynamic automations. The Avii Enhanced product offers everything that the Core version does, but adds advanced project management and automated pools, tasks and notes, communications, a template system, document routing, newsfeeds, customer satisfaction surveys and an advanced tech toolbox. Users of either can add an Advanced Automations program across Avii tools as well as to-and-from third-party software, which provides a process management system, a workflow management system and a resource management system. There is also a financials add-on which provides time, hours and invoice tracking, budget management and performance reporting.

BillingPlatform announces latest release

Revenue management solutions provider BillingPlatform added new capabilities to its product as part of its Q3 platform release. They include support for B2B e-commerce initiatives directly within BillingPlatform; flexible discounting; improved Thomson Reuters OneSource and Avalara tax connectors; new integrations with Stripe, Stax, Adyen and other payment methods; standard waterfall reports for revenue forecasting needs; multi-select and type-ahead functionality in search fields within the reporting engine; improved configuration tools, productivity enhancements and intelligence dependency tracking; and application-level encryption bolstered by support of encrypted fields inside workflows, reports and data filters.

Partnership and integrations

Cloud accounting provider Xero has entered a partnership with construction management software provider Procore Technologies, Inc. to integrate their apps. The new integration, available on the Xero App Store, enables users and their advisors to connect field and back office teams with real-time financial data in the cloud. … Corporate card and spend management solutions company Brex integrated with Netsuite. All transactions, including credit card, rewards, reimbursements, collections and more, can now be exported directly to NetSuite as journal entries, credit card transactions and CSV files. The integration allows for real-time visibility into spending, including transactions to reduce data entry errors and better detect fraud. Teams can now customize data across all fields, sync their NetSuite transactions across unlimited entities, maintain real-time views on spending with automated categorized data syncs, integrate their Brex to NetSuite data, and flag out-of-policy or duplicate expenses that are under review. … Top 10 firm Grant Thornton announced that Johnson Global Accountancy has agreed to be a reseller of Grant Thornton's qm.x application, which uses cloud-based technology to help accounting firms implement International Standard on Quality Management 1, or ISQM 1. Johnson Global Accountancy will help other accounting firms with their qm.x deployments, including implementation, testing and monitoring. … Ignition, a client engagement platform, unveiled Ignition Smart Billing, a feature that integrates with payroll platform Gusto to automate billing for services priced per employee for accounting firms. Users have access to ready-made proposal templates, automated billing features and auto-population of Gusto client details. … CloudCapcha, a timesheet automation software provider, has integrated with Practice Engine. Firms using Practice Engine can now take advantage of automated timesheets within Microsoft Teams, along with APS Practice Management. … Avalara, which provides tax compliance solutions, announced 18 newly certified integrations with accounting, ERP, ecommerce, point-of-sale, mobile commerce and CRM software applications. They include Apparel, B2B Wave, Cleverbridge, commonsku, HappsNow, Karmak Fusion, LOU, Naviga, Omnia360, One Platform, RainPOS, ResponseCRM, Seradex, shopVox, Softbase Systems 3.0, Thoroughbred Software, TrulinX and vinSuite.