The
Flexible Solution for Sales, Use and Consumer's
Use Tax
Taxware's
Sales/Use Tax System is tile most robust
ad flexible tax calculation and reporting
system on the market today. Operating
as an integral part of your existing financial
or accounting system, the Sales/Use Tax
System automatically calculates taxes
for sales, purchases, and rentals.
You
can reduce the time your tax or accounting
department spends on complex compliance
processing. Implementing the Sales/Use
Tax System will bring your business the
best available automated solution with
built in functionality to protect against
audits, obsolete data, and changing tax
laws Maximize your internal resources
while improving accuracy, reducing costs
and enabling your tax professionals to
centralize decisions and eliminate time
consuming compliance activities
Updated
at least every month, the system covers
all U.S. and Canadian tax jurisdictions.
All Taxware systems including VeraZip®,
STEP and TaxSolver® interface smoothly
with Sales/Use Tax System, providing a
powerful, comprehensive solution for your
company's needs.
Sales/Use
key features and benefits:
-
Includes
detailed situsing rules
-
Determines
the taxability Of goods and services
through the industry's most comprehensive
Product Taxability Matrix
-
Includes tax reports
-
Permits
overrides
-
Handles
full and partial exemptions
-
Allows
fur caps and thresholds
May be used in conjunction with the WorldTax®,
System for global tax Calculations
The
Tax Calculation Module provides additional
flexibility for companies with complex
tax compliance needs:
-
Completes tax calculations including
exemptions, special rates, and caps,
and thresholds
-
Seamlessly
transmits tax calculation results to
the enterprise accounting or finance
software for presentment on a transaction
document or UI screen
-
Records
tax calculation results, in the SaIes/Use
Tax System Audit File for later reporting
-
Comprehensive reporting with line item
detail
The
industry’s most comprehensive fully
populated Product Taxability Matrix:
-
A unique database of special rules for
thousands of situations, including full
and partial exemptions, special rates,
caps, and thresholds
-
Contains
over 2,000 classifications of products
and services
-
Researched,
maintained, and constantly expanded
by Taxware's tax professionals
-
Clients
can map their products to the Matrix
and add customized product codes for
their business
-
Accommodates
special tax situations
The Audit file contains the detail necessary
for internal and external audits
Resulting
data may be fed into Taxware's TaxSolver
for automated tax returns and reporting.
Consumer’s
use tax for payables addresses tax compliance
for purchases
-
Allows
for tax decisions by vendor, business
location, product service , cost center
, or project
The
Toolkit’s Graphical User Interface
(GUI) provides tremendous flexibility
The Toolkits one-time setup results
in greater functionality for your company’s
tax structure:
-
Product mapping
- Report
generation
- Tax
rate and code updates
The
exclusive NEXPRO module helps administer
tax collection obligation:
-
Establish multiple or separate business
location profiles, even if each location
has its own individual taxing requirements.
-
Turn
off the taxing jurisdictions where your
business does not have a tax collection
obligation.
VeraZip
Procise
Taxing Jurisdiction Assignment
Taxware's VeraZip is a simple and flexible
solution using modern, address-driven
methodology based on ZIP Code.
-
Interfaces with your company's enterprise
system, providing accurate tax jurisdiction
assignment.
-
Identifies ZIP Codes within multiple
counties and/or cities, and outside
city limit conditions.
-
Captures
additional information, such as county
name and code.
STEP
(Sales Tax Exemption Processing)
The Industry’s Only Buy-Side/Sell-Side
Exemption Processing
With Taxware's STEP module, tax professionals
can customize the maintenance of tax exemption
records by storing and tracking exemption
certificates for future use. Integrating
with a client's billing or invoicing system
through Sales/Use Tax System, this easy
to use program helps you avoid costly
exemption errors by allowing you to assign
special tax rules to a customer, or to
your business practices.
Complete
Exemption Flexibility
Automatic exemptions by location, product
or service, customer, vendor, cost center,
business location, project, job or any
combination.
-
Client can customize exemptions for
any client or vendor transaction.
-
Permits
selection of tax jurisdiction level
to which the exemption will apply.
-
Creates
a complete log of tax exempt certificates
-
Allows
total control over tax exempt client
and/or vendor criteria by the tax department
-
Identifies
certificates nearing expiration and
flags them in advance of expiration
date.
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