Spreadsheets waste a third of your time.
IDC corporation reported in a 2017 study that a third of the time spent using spreadsheets is wasted due to repetitive tasks and manual processes that could be streamlined with better tools.
This applies to your R&D credit computation spreadsheet as well.
SPRX R&D Credit Tip - retire your R&D credit computation spreadsheet and move to an R&D credit computation application.
Busy Work
People often spend days, weeks or even months working on their R&D credit spreadsheet. You may feel productive with that complex spreadsheet open on your screen, but when you look critically at the tasks you are performing you find that a lot of wasted time on tasks such as:
- Cutting and pasting data
- Adjusting the formatting to make it look good
- Checking, re-checking and triple checking the calculation formulas
- Sorting through data errors
- Manipulating the data formats
- Collating edits from different people
- Reconciling differences between different versions
- Saving, renaming, and transmitting copies between team members
- This list can go on and on.
More Time for Analysis
When you retire your spreadsheet, you can reallocate all that wasted time to high-value tax analysis. In the R&D credit universe that means more time available for analyzing research documentation, reviewing contracts, or identifying additional costs.
The R&D credit is a significant and complex tax item. The R&D credit is often selected for IRS exam. Every additional hour you can make for R&D credit analysis is high value.
Right Tool for the Job
R&D credit analysis is much more efficient with the SPRX.tax tool verses using spreadsheets to perform similar tasks.
At SPRX.tax we build the tools that save you time…and money.