A sales tax auditor will examine your federal income tax return to reconcile the gross sales between the federal return, the sales tax return, and the sales recorded in your accounting records.
Related to Sales Tax: Accounting and Financial Management, Compliance Management, Regulatory and Compliance, Tax Compliance, Tax Preparation and Reporting, Sabrix
But for businesses today, the threat of creating sales tax nexus within a taxing jurisdiction has given the word a new and highly negative connotation. Small- to mid-sized and fast-growing companies in particular are in a double bind regarding sales tax nexus:
Related to Sales Tax: Regulatory and Compliance, Small Business Accounting, Tax Compliance, Tax Preparation and Reporting, Sabrix
The sales tax challenge All companies have a legal obligation regarding tax. Of the survey respondents, 100% reported a sales tax compliance requirement, 70% reported a use tax requirement, and 40% a VAT requirement.
Related to Sales Tax: Accounting and Financial Management, Tax Compliance, Tax Preparation and Reporting, Sabrix
However, the appropriate exemption certificate management (ECM) strategy can help avoid sales tax audit risk while lowering audit assessments and penalties.
Related to Sales Tax: Accounts Payable (A/P), Accounts Receivable (A/R), Credit and Collections, Tax Compliance, Tax Preparation and Reporting, Imaging Science and Services, Inc.
However, solutions are emerging that are uniquely suited to SMB needs for sales tax compliance.
Related to Sales Tax: Accounting and Financial Management, Compliance Management/Sarbanes-Oxley Compliance, Enterprise Accounting, Practices and Business Issues, Tax Preparation and Reporting, Technology Tools and Methods, Avalara, Finance and Insurance
In August 2006, Microsoft conducted a Microsoft Dynamics AX 4.0 standard distribution benchmark to measure the performance and scalability characteristics of the application in a simulated distribution scenario. This benchmark exercised core accounts receivables scenarios around order entry through invoicing, in addition to procure-to-pay processes around purchase order creation through receiving of goods. We look at the methodology and results.
Related to Sales Tax: Application Servers, Enterprise Resource Planning (ERP), IT Infrastructure, Microsoft
The ERP package needed to track sales and commission as well as comply with varying state sales tax requirements on items sold.
Related to Sales Tax: IT Infrastructure, IT Monitoring and Management, Office Application and Automation, Practices and Business Issues, Project and Process Management, Project Scheduling, Systems Integration, VAI, Manufacturing, Retail Trade
Imagine that you need to change the way sales tax is calculated in your enterprise application. In a traditional, monolithic application, you would need to build this new functionality into your application stack, following a process that would be slow and costly. In an SOA-based system you could use your SOA framework to “reach across” to another sales tax module, either internally or across the Internet.
Related to Sales Tax: Enterprise Resource Planning (ERP), Service Oriented Architecture (SOA), IFS, Information, Management of Companies and Enterprises
Currently, India?s population is approximately 1.0009 billion. The middle class is large and still growing; wages were low, but now are some of the best in various industries; many workers are well educated and speak English; and investors are optimistic and local stocks are up. Despite political turmoil, the country presses on with economic reforms. But for potential investors, there?s still cause for worry?find out why.
Related to Sales Tax: Asset Management, Consulting and Services, Practices and Business Issues, Supply Chain Management (SCM), Avenir Management Services Pvt. Limited
What functionality will your organization actually use? You may not need an end-to-end solution that incorporates everything from payroll to field-service management to product-return authorizations to sales tax management.
Related to Sales Tax: Accounting and Financial Management, Decision Making, Enterprise Resource Planning (ERP), Software Selection, Inside Business Finance
is a leading provider of transaction tax management for companies of all sizes, enabling finance, tax, and IT professionals to achieve accurate, timely, and cost-effective compliance for sales tax, use tax, Value Added Tax (VAT) , excise tax and industry-specific taxes and fees.
Related to Sales Tax: Accounting and Financial Management, Compliance Management, Executive Views, Practices and Business Issues, Regulatory and Compliance, Small Business Accounting, Tax Preparation and Reporting, Sabrix
Changing sales tax rates to ensure a system is automated and designed to calculate tax and collect the proper amounts at the state, county, and city-level.
Related to Sales Tax: Accounting and Financial Management, Enterprise Resource Planning (ERP), Inventory Management, Management Practices, Project Accounting, Small Business Accounting, Spreadsheet, Supply Chain Management (SCM), Everest Software Inc.
Some businesses also rely on locale specific sales tax areas which is determined using the Census Place Code and Place Name from a good geocoding solution.
Related to Sales Tax: Data Management and Analysis, Demographics, Market Research, Marketing Automation, Return on Investment (ROI), Sales and Marketing, Sales Management, Melissa Data