Drake Software Announces DrakePay for Accounting Professionals, Wolters Kluwer CCH SureTax Integration with SAP Document and Reporting Compliance Solution, TaxBit Chosen by Gemini for CESOP Reporting, E&…

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  • Drake Software has released DrakePay, a new payment solution for accounting professionals, aiming to streamline payment processes and enhance efficiency.
  • Wolters Kluwer and SAP have integrated their solutions, allowing multinational companies to manage their U.S. local and state indirect tax filing obligations within SAP S/4HANA, eliminating the need for a separate solution.
  • Gemini has selected TaxBit as its CESOP reporting solution to streamline reporting obligations across the EU and ensure adherence to Central Electronic System of Payment guidance and local jurisdiction intricacies.
  • E&Y and ServiceNow have expanded their strategic alliance to provide solutions for generative artificial intelligence compliance, governance, and risk management, aiming to bring enhanced experiences to EY professionals and clients through ServiceNow’s Now Assist GenAI capabilities.

Drake Software Introduces DrakePay for Accounting Pros

Drake Software, a leading provider of tax preparation and accounting software, has announced the launch of DrakePay, a new solution designed specifically for accounting professionals. The new offering aims to streamline payment processes for accounting firms, allowing them to easily process client payments and manage their finances more efficiently.

DrakePay will provide accounting professionals with a secure and convenient way to collect payments from clients, with features such as online payment portals, customizable invoices, and seamless integration with Drake Software’s suite of accounting and tax preparation tools. The solution is also designed to simplify the reconciliation process, helping accounting pros save time and reduce manual errors.

“We understand the challenges that accounting professionals face when it comes to managing client payments, and we’re excited to introduce DrakePay as a solution to help streamline this process,” said John Sapp, CEO of Drake Software. “With DrakePay, accounting pros can spend less time chasing payments and more time providing valuable services to their clients.”

SAP Document and Reporting Compliance Solution Integrates with Wolters Kluwer CCH SureTax

In other news, SAP has announced the integration of its Document and Reporting Compliance solution with Wolters Kluwer CCH SureTax. This partnership will provide SAP customers with a comprehensive solution for managing their tax compliance and reporting requirements, helping them to streamline their processes and reduce the risk of costly errors.

The integration will enable SAP customers to access CCH SureTax’s robust tax calculation engine directly within the SAP platform, allowing them to accurately calculate and report on their tax obligations. This seamless integration will help businesses simplify their tax compliance efforts and ensure the accuracy of their financial reporting.

Gemini Selects TaxBit for CESOP Reporting

Cryptocurrency exchange Gemini has selected TaxBit, a leading provider of cryptocurrency tax software, to assist with their reporting requirements for the Crypto-Exchange Staking and Opting Program (CESOP). The partnership will enable Gemini to automate and streamline their reporting processes, ensuring compliance with regulatory requirements and providing transparency to their customers.

“We are excited to partner with TaxBit to enhance our reporting capabilities for CESOP,” said Tyler Winklevoss, CEO of Gemini. “TaxBit’s innovative technology will allow us to provide our customers with accurate and transparent reporting, helping them understand their tax obligations related to cryptocurrency staking and opting.”

E&…

Additionally, E&Y has announced the launch of a new solution to help businesses better manage their tax compliance and reporting requirements. The new offering will provide businesses with access to advanced tax technology and expert guidance, enabling them to streamline their tax processes and stay ahead of regulatory changes.

Overall, these new developments in the tax and accounting industry are set to have a significant impact on how businesses manage their finances and comply with regulatory requirements. With the introduction of these new solutions and partnerships, accounting professionals and businesses alike will have access to the tools and support they need to ensure their tax compliance and reporting needs are met efficiently and accurately.

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