Sales Tax Series Blog 6 – Sales and Use Tax 3rd Party Bolt-On Software
Posted on: December 30, 2019 | By: Andy Vitullo | QAD Financials, QAD Distribution, Microsoft Dynamics Manufacturing
Previous blogs in this series described the complexities of Sales and Use Tax configurations in ERP. If your business requires a 3rd party bolt-on software package, the following requirements should be considered.
Tax Rate Database
o Integration to the tax rate database should be seamless. The software should include a connection to transactions including quotes, sales orders, invoices, purchase orders and accounts payable transactions.
o Tax rate updates should happen exclusively in the 3rd part software. Rate updates should not require any incremental updates in ERP.
o Tax rates should support all jurisdictions in which your business has Nexus.
Certificate of Exemption Management
o Storage of Certificate Documents.
o Easy retrieval of Certificate documents.
o Expiration management of Certificates. As certificates expire, Alerts to customers or tax managers to obtain new Certificates.
Tax Form Filing Services
o Timely compilation and filing of tax forms to the appropriate jurisdictions.
o Remittance of tax due along with tax forms filed.
o Long term document storage of filed documents.
Your business may require some additional features from a 3rd party provider. Logan Consulting can assess your business processes to define any additional requirements before soliciting those bolt-on software vendors.