LoginREDUCE RISK OF MANUAL ERROR IN MANAGED FUNDS
The Managed Funds module of PowerTax Trusts provides accurate and quick trust distributions and tax return calculations, so you not only get it right, you get it right without putting in excessive hours of manual effort.
The software offers automated uploads from your source data and prior period data, with best-practice calculations signed off by one of the Big 4 accounting firms in Australia. The system is 'locked down'', so there's no need to check and re-check calculations, minimising risk and errors.
Features of Managed Funds software
- Handles major trust assignments
- Automates distributions
- Generates tax returns and automatically populates the ATO T Form
- Regularly maintained and updated for legislative changes
- Automates multitier calculations and data flows
- Allows various expense allocation scenarios to suit each trusts needs
- Caters for multiclass trust distributions
- Links and automatically populates data from source systems and prior period calculations
- Links and automatically populates data from unit holding systems
- Calculation of total trust distributionAutomation of interfunding between funds
- Calculates unders and overs
Benefits of Managed Funds software
- Reduces manual entry and risk of error
- Introduces data flow automation
- Reduces tax effort and timeframes to complete distributions and tax returns
- Improves risk profile
- Greater controls over calculations
- Improves audit trails
