Accounting firms of all sizes aim to provide more value for their clients – and this requires delivering high-quality advisory services. But do you have the tools you need to streamline and automate tax compliance?

Technology can transform tax workflows, but not all accounting software is the right fit for your practice. A flexible, modular solution like TaxLab solves this challenge. It automates tax compliance, streamlining workflows, reducing risks and improving accuracy for forward-looking accounting firms of all sizes and client profiles.

A modular approach

TaxLab’s modular design enables you to streamline and automate tax workflow without needing to replace your entire tax compliance system.

Allen Knight, TaxLab CEO and co-founder, explains that the software is designed to cover the entire tax lifecycle.

“That lifecycle starts with provisional tax and then into year-end reporting,” he says. “Then there’s tax return preparation and electronic filing, plus dealing with Inland Revenue (IR) correspondence to close out the tax year. And you can adopt the whole system or just the parts that suit your practice, so there’s no need for a full system replacement to start seeing the benefits.”

For example, if your most pressing concern is that clients receive the right correspondence from IR on time, you might choose to take up TaxLab’s Tax Inbox+. “It automatically disperses IR correspondence and inherently builds in risk management by making sure tasks are actioned by set deadlines,” explains Knight.

Efficiency and quality

TaxLab’s Provisional tax product is another popular solution. “It’s more advanced than what we see from traditional legacy systems,” says Knight.

“It helps manage cash flow for your clients as well as deal with the administration of making the right payments at the right time. It also takes data feeds not only from IR but from major tax pools, so it allows you to provide the benefits of tax pooling to all your clients at scale.

“TaxLab helps accountants to make better decisions around when to file a tax return and when to tax pool to give your clients the best cash flow result,” adds Knight. “There’s deep functionality that many of our customers benefit from, but a lot of the market isn’t aware of.”

TaxLab is easy to adopt. You can sign up online in minutes and use one product or many, without a full system migration.

“We work with accounting firms of all sizes and what they have in common is the journey they’re going on,” he adds. “They are forward thinking, they’re trying to automate processes to increase efficiencies and the quality of advice they’re providing for their clients, and that’s what TaxLab helps them do.”