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Sage MAS 500 - Core and Advanced Financials
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Sales Tax |
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For companies doing business in multiple jurisdiction,
sales tax compliance is a complex nightmare. For
protection against the consequences of non-compliance,
large corporations with IT and tax departments deploy
expensive software systems. The alternative—manually
researching and maintaining rates—is the worst-case
scenario in terms of audit risk. But what happens when
your business can't afford or staff for such IT-intense
enterprise software systems?
Sage MAS Sales Tax, Powered by AvaTax makes automation
for any business simple. This hosted, Web-based solution
automatically performs address validation, sales tax
jurisdiction research, and rate calculation—all on the
fly within your accounting application, with no change
to your existing workflow. Fully detailed reports are
always at your fingertips and returns are automatically
pre-populated and generated. Sales Tax takes just
minutes to download and install. Set up nexus and
taxability, and begin accessing this professionally
maintained tax engine over a secure internet connection
to apply address, jurisdiction, and rate information to
every transaction—within the same order-entry or
customer set-up screen you've always used.
With Sales Tax you get the big-business protection of
sales tax automation without breaking your budget,
straining your internal resources, or compromising on
functionality. The cost benefits of streamlining
order-entry and remittance processes—and your peace of
mind—could make this module the best technology
investment your business makes this year.
Comprehensive, Accurate Calculation
A correct sales tax calculation starts with
identification of all applicable taxing jurisdictions to
a street address. For every calculation, Sales Tax
performs address verification, and then locates the
exact street address within a jurisdiction using a
geo-coding mapping system. The calculation is made,
referring to pre-set user configurations including
nexus, tax jurisdictional issues, exception processing,
product taxability rules, sourcing rules, split rates,
and maximum tax. All of this happens transparently in
the background, automatically updating your accounting
application.
Automated Reporting and Returns Generation
Easily-accessible user interface and reporting platform
provides detailed, summary, and exception reports to
exceed statutory tax return requirements. Views and
drill-downs encompass customer/invoice, product, reason
for exemptions, jurisdictional information, and a
detailed breakout of rates and taxes by jurisdiction. An
incorporated returns platform provides sophisticated
selection of required forms, pre-population of tax data
for a specified filing period, and intelligent
calculations within the form. A revision /approval
process is included, permitting Sales Tax to maintain
records of adjustments.
Sage MAS 500 Sales Tax Highlights:
- Reduce audit risk
- Automate sales tax calculation, reporting and returns
- Real-time Address Verification
- Receive completely accurate sales tax charts
- Simplify your work with the instant online tax calculator
- Seamless integration with your Sage MAS ERP solution
- Eliminate the need for manually selecting or
assigning a schedule or detail
- Set best practices in sales and use tax compliance
Download the spec sheet for more information on module
features and reports.
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