Boost Your Tax Workflow with Excel Copilot: Asset Management & Capital Allowances 📊

This video demonstrates how tax professionals can use Excel Copilot to manage fixed asset listings, classify assets, and calculate capital allowances efficiently.

Chapters:-

00:02 Setting up the data
- Insert a table into the fixed asset listing
- Check and adjust data types for columns
- Save the file to OneDrive for Business

01:06 Using Microsoft Copilot for classification
- Add a new column for asset classification
- Reference the IRAS website for qualifying assets
- Attach the Excel sheet and generate the prompt

05:02 Verifying classifications
- Check if Copilot classified assets correctly
- Identify and remove non-qualifying assets
- Use Copilot to highlight specific items

07:51 Calculating rates of claim
- Create a new column for the rate of claim
- Differentiate between computer and non-computer items
- Extract and apply percentages to asset values

11:03 Creating a pivot table
- Summarize data with a pivot table
- Include columns for asset type, rate of claim, and claimed amount
- Verify the total claimable amount

This video showcases the practical application of Excel Copilot in streamlining tax-related tasks for professionals.

** Description generated with Microsoft Copilot and edited by Audrey Lin.