How to Simplify Sales Tax Processes

Tracking sales tax can be a headache. Every element of your business is touched by sales tax: products, business processes, accounting, costing, shipping, invoice structure, exemptions, contract relationships and so on. You need clarity on how your services and products are taxed in every jurisdiction you operate in.  So stop suffering needlessly and get proactive.
While the above challenges can make the automation process complex, there are a number of solutions available that can meet the most exacting standards with or without customization.

Here’s how:

Security Challenges

Need to comply with policy, corporate or government, restricting how data can be used online? Not to worry – maintain your tax tables locally. Every month, you will receive any changes in tax rates which can then easily be uploaded to your system. Keeping local tables ensures you meet all tax standards while maintaining security.

Taxes Reported in Multiple Jurisdictions

Automate filing and save time wasted filling out multiple forms. Initially, it may take some legwork to set this up but it will pay off in the end. Why waste hours doing paperwork manually when it can be done with the push of a button?

A sound solution will also maintain those tax rate tables. This is another task that can eat up a lot of time otherwise. In fact, depending on the number of jurisdictions you operate in, simply keeping up with rate changes can be a full-time job. Why waste precious time if you don’t have to?

Part Number Length

Long part numbers can be another challenge as some online systems restrict part-number length on the back end. It’s certainly worth considering, however, we are familiar with a number of options to work around this. So don’t let this discourage you from considering an online tax solution.

Tax Rates Differ by Part Number

Another time-saver is customizing a solution to automate the process of product code and category set-up for your inventory. For instance, with one client we reduced maintenance by grouping over 5,000 parts into 6 item classes. Entering these details manually can eat up a significant amount of time, plus open up the potential for error.

So stop letting taxes get you down. With an automated solution built to meet your needs, staying on top of changes and ensuring compliance can be easy.

You need clarity on how your services and products are taxed in every jurisdiction you operate in.  So stop suffering needlessly and get proactive.

While the above challenges can make the automation process complex, there are a number of solutions available that can meet the most exacting standards with or without customization.

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