Launched this month, Bloomberg Tax Workpapers, combines data preparation, spreadsheets, integrated tax guidance and controls. The application also integrates with modules in the Bloomberg Tax suite—Research, Fixed Assets, and Provision software.

Bloomberg says the product, which features a user experience designed for tax professionals, automates processes specific to tax including. cleansing trial balances, M-1 flux analysis, and period-over-period roll forwards.

Uses start from templates with tax laws, which are automatically updated with links to primary source citations. In addition, there are cell-level reviews and the ability to standardize SOX controls with workbook level sign-offs and status tracking, locking workbooks from further edits when finalized.