Press release
PowerPlan Announces Launch of Tax Fixed Assets (TFA)
ATLANTA, Dec. 07, 2022 (GLOBE NEWSWIRE) -- PowerPlan, Inc., a leading provider of financial software and solutions for the energy industry, announced the
About this update from Roper Technologies, Inc.
[{"type":"text","content":"ATLANTA, Dec. 07, 2022 (GLOBE NEWSWIRE) -- PowerPlan, Inc., a leading provider of financial software and solutions for the energy industry, announced the launch of its newest SaaS technology solution today, Tax Fixed Assets, or “TFA.” TFA is PowerPlan's next-generation income tax depreciation and deferred tax solution designed specifically for the demanding reporting requirements utility and energy companies face in meeting regulatory standards and in business planning. TFA provides a modernized user experience with streamlined workflows, time-saving data validations and curated insights to surface vital information quickly. “We’re thrilled to bring this next-generation tax solution to the utilities and energy industry,” said PowerPlan Chief Executive Officer, Joe Gomes. “Tax Fixed Assets builds on the strengths of our first-generation tax solution, PowerTax, and layers in powerful new features tax teams need to support their organization’s data strategy, compliance reporting and overall financial performance. This product is a direct reflection of PowerPlan’s continued investment in innovation, which is laser focused on giving our customers purpose-built, industry specific solutions that offer flexibility and confidence as they move their critical enterprise software systems to the cloud.” TFA is deployed using a SaaS (software as a solution) delivery model and integrates seamlessly with on-premise or cloud-hosted PowerPlan Asset and Project Accounting to give users immediate, actionable, and reliable insight. The software brings together essential fixed-asset-related tax functionality, which includes the following: Book-to-tax reconciliationTax depreciation and gain/loss calculationsCost of removal and salvage requirementsBonus depreciationDeferred taxes for fixed assets This granular data helps tax departments easily manage multiple sets of books, improve efficiency, mitigate compliance and business risk, recognize more tax savings and optimize cash flow. “The launch of PowerPlan’s Tax Fixed Assets (“TFA”) shows the company’s commitment to continually innovate new products,” said Suzanne Ward, Senior Vice President of Product Management and Marketing. “This exciting cloud-based software will be a game changer for tax departments across the energy sector in enabling them to use detailed data to manage the tax function more eff...