Configure tax reporting requirements for each tax. Generate summary reports and retrieve tax details for each tax zone. Prepare the statistical information required by tax authorities for filing tax reports.
Maintains a complete record of each tax transaction including the originating module and transaction, the taxable amount, tax, reference number, and document type. Reconcile calculated tax with GL postings and drill down to the original transactions.
For most businesses, sales tax is an obligatory, complex nightmare. Automating this process will save you time, money, and effort. Avalara AvaTax works inside of Acumatica Sales Order Management and Commerce Edition to dynamically deliver instantaneous sales tax decisions based on precise geo-location in more than 11,000 taxing jurisdictions. Because it works as part of the standard sales order process, order entry staff have nothing extra to learn. The system automatically considers hundreds of thousands of taxability rules and the latest jurisdiction boundaries to deliver the right rate and tax calculation—every time. In addition, the returns filing process monitors deadlines with automated returns and remittance. Acumatica customers can simply turn this feature on to start calculating taxes—and then look forward to lower long-term costs because Acumatica’s cloud platform enables the connected business.
Review tax reports and enter corrections directly in your tax accounting software. Corrections update the specified tax liability account in the GL as well as the statistical tax information.
Maintain a complete audit trail of all tax related transactions. The system maintains the details of all tax related documents, including the originating module, reference numbers, and date of the record. Adjustment can only be made through auditable transactions.