Use Cases

Utility Tax

Get all the controls you need to prep for your month-end close in mere hours by automating validations and reconciliations before, during, and after the close.

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Utility Tax

Ensure that Tax results across Income, Property, Sales and Use, and Payroll accurately reflect the realities of the business

Utility Fixed Assets

Take the high-level, largely manual, monthly Fixed Asset accounting controls, and automatically execute those controls and provide immediate knowledge of any discrepancies

Utility General Accounting

Provides Corporate Accounting professionals visibility into the validity of all key General Ledger and Sub Ledger processes and data, enabling a seamless financial close and quality results for internal and external stakeholders.

Break free from your (spreadsheet) cells

Utility Tax, more than any other group in Finance, relies on data from other departments. The result of wrangling all those upstream data sources is that teams spend an inordinate amount of time to achieve an acceptable level of confidence. This is no longer the case for tax departments using ASI. With ASI, be audit-ready within hours of pre-tax income being finalized, and sleep well at night knowing that all your data is correct – all with the click of a button.

Tax Basis Balance Sheet

Ensure that all systems and side schedules that impact Tax are working from the same set of numbers, providing full transparency into all items impacting tax accounting, tax regulatory reporting, and the return.

  • Connect to all systems and spreadsheets that impact Tax accounting and compliance
  • Automate the TBBS for Federal and all States
  • Export audit-ready schedules directly from ASI
  • Automatically roll balances from one year to the next

Property-Related Deferred Tax FAS109 Proof

The property-related ADIT balance is one of the most highly scrutinized because of its complexity and its impacts on regulatory reporting and financial statements. ASI provides full, audit-ready confidence in this balance in minutes.

  • Automatically reconcile book fixed assets to tax by function, accounting for any known exceptions
  • Ensure that property-related timing differences are fully supported by Net Book Net Tax components
  • Decrease time to prepare deferred taxes by months
  • Fully reconcile tax depreciation to tax accounting
  • Ensure tax CWIP is not double-counted
  • Link to on-premise or cloud-based tax depreciation software

The 2-Hour Month-End Close

Close the books in hours - not days. ASI customers are audit-ready within hours of receiving finalized Pre-Tax Book Income, saving weeks of employee time every month, and providing staff the time to focus on solving problems instead of finding them.

  • Link to GL, workbooks, and all other sources that drive the Tax accounting entry
  • Run automated controls throughout the month to identify upstream and internal issues that can be fixed outside of the close window
  • Export audit-ready reports directly out of ASI
  • Provide an automated controls "backstop" so that less experienced staff have the freedom to contribute without sacrificing quality

Tax Forecast Automation

Without a targeted solution, most utilities are forced to either spend weeks on each forecast cycle, or significantly sacrifice quality. With ASI, customers can automate the flow and the validation of data from book forecast to tax forecast and back without sacrificing quality, seeing high-fidelity tax forecasts produced in hours where they used to take weeks.

  • Integrate directly with book forecast and tax forecast systems and workbooks
  • Quickly detect any new book forecast data requiring configuration in the tax forecast system
  • Automatically validate book-to-tax data throughout the process, ensuring quality and lightning-fast troubleshooting
  • Ensure that the most recent book forecast data is used
  • Allow for a full book-to-tax process any time the book forecast changes instead of doing one-off "topside" adjustments

Featured Case Study

Tax Modernization at WEC Energy Group

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Tax Transformation: Realized

Are you challenged with doing more with less, and with less experienced resources? Let's discuss how other Utility Tax customers have created a platform for continued success for both their company and their team.

Testimonials

“I can now tell you everything that’s going on in every company, at any point in time. I have truly absolute knowledge of my data. Especially now that more and more people are working remotely, I can now sleep comfortably knowing everything continues to be sane and as designed.”

WEC Energy Group

Electricity and Natural Gas Utility