Atlanta, GA (May 15, 2014) PowerPlan, the leading provider of accounting, tax and capital budgeting optimization solutions for asset-intensive businesses, has released its latest version, which includes a module built specifically for Master Limited Partnerships (MLPs).
PowerPlan’s MLP module allows for greater accuracy and availability of data for all stakeholders, which improves the K-1 filing process as well as provides necessary financial visibility and reporting for general partners, auditors and unit holders. In today’s environment MLPS are facing compressed timelines between the annual accounting close and the issuance of K-1 forms. Historically, the K-1 process is manual, labor intensive and error prone. With the PowerPlan MLP module, integration between accounting systems, the tax systems and the K-1 filing preparers is automated allowing MLPs to improve speed and accuracy.
“PowerPlan’s tax solution is a great bridge for fixed asset data to flow from the accounting to tax departments. The new MLP module will create a more streamlined data flow from the tax department to the MLP K-1 processor,” says Khrissy Griffin, Senior Tax Manager at Exterran. “In our experience, PowerPlan consistently helps us improve our fixed asset processing and reporting of critical business transactions.”
PowerPlan version 10.4.2 includes new features and enhancements that make it easier to manage and run reports. Specific enhancements for version 10.4.2 include the following:
“We are committed to the growing oil and gas industry and meeting and supporting their unique needs,” says Russell Groves, Vice President of Strategy at PowerPlan. “In addition to our new MLP solution, with the addition of several oil and gas experts to our team, we are focused on strengthening our expertise in this area and creating value for our customers.”
Existing customers can access the latest upgrade by contacting their PowerPlan representative.
About PowerPlan: PowerPlan software provides financial insight into how complex rules and regulations impact your organization – empowering you to make credible decisions that improve overall corporate performance. The integrated solution provides complete visibility starting with forecasting and monitoring to scenario planning and analytics while maintaining financial compliance. For more information, email firstname.lastname@example.org or visit www.powerplan.com.
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