Product

Tax Accounting Software

The right tax accounting software will let you configure tax rates, perform tax accounting, and generate tax reports all in one place. It will also integrate with your financial management modules to let you calculate taxes correctly in every transaction. Find out how better accounting software can save you time and money.

How Tax Accounting Software Can Work for You

Acumatica Tax Management streamlines and automates the tasks involved with configuring, collecting, managing, and reporting tax. Tax Management Software integrates with the rest of the Acumatica Financial Management suite, enabling you to centralize your tax information and easily generate the tax filing reports that are required of your business.

Key Benefits of Tax Accounting Software for Your Company

  • Configure Taxes the Way You Want

    Support sales, use, withholding, VAT, and reverse VAT taxes. Specify multiple rates with different start and end date, and minimum and maximum tax amounts. Calculate on each line item or the entire document amount.

  • Integrate with Financial Modules

    Calculate taxes automatically based on the tax zone assigned to the customer, employee, or vendor record, and the tax category assigned to inventory items. Make manual tax adjustments. Tax is posted to a GL tax liability account and to designated accounts within the software. The Tax Management module is integrated with all Acumatica modules that require tax calculation.

  • Offset Automatically with Accounts Payable

    Specify the frequency of tax reporting and generate tax reports. Automatically generate a bill in accounts payable with appropriate ledger postings.

Important Features of Tax Accounting Software

Flexible Tax Reporting

Configure tax reporting requirements for each tax. Generate summary reports and retrieve tax details for each tax zone. Prepare the statistical information required by tax authorities for filing tax reports.

Tax Transactions Drill Down

Maintains a complete record of each tax transaction including the originating module and transaction, the taxable amount, tax, reference number, and document type. Reconcile calculated tax with GL postings and drill down to the original transactions.

Direct Tax Adjustments

Review tax reports and enter corrections directly in your tax accounting software. Corrections update the specified tax liability account in the GL as well as the statistical tax information.

Audit Trail

Maintain a complete audit trail of all tax related transactions. The system maintains the details of all tax related documents, including the originating module, reference numbers, and date of the record. Adjustment can only be made through auditable transactions.

Connected Sales Tax and Compliance Solutions

Avalara AvaTax and Vertex Sales Tax solutions work inside of Acumatica Sales Order Management and Retail Edition to deliver sales tax decisions based on precise geo-location in more than 11,000 taxing jurisdictions. Order entry staff have nothing extra to learn. The systems automatically consider thousands of taxability rules and the latest jurisdiction boundaries to deliver the right rate and tax calculation—every time. In addition, the returns filing process monitors deadlines with automated returns and remittance.

Learn more about Avalara AvaTax  (Learn about Acumatica’s integration with Avalara)

Learn more about Vertex Sales Tax

Streamlined Tax Zone Reporting

Automatically assign tax zones to new sales orders and invoices based on country, state, and zip code.

Sales Tax Exemption Certificates
Manage tax exemption certificates. Automatically calculate sales and VAT taxes and prepare for tax filing reports. Customer default tax zones can be overridden during document entry. Supports multiple tax items per document line, deduction of tax amount from the price, and tax on tax calculation.

See what Acumatica customers are saying

"We can scale without extra costs because the fee structure isn’t prohibitive. With other software, every time you want to add a new user or feature, they charge you huge amounts of money. Acumatica has extra modules that only cost a few thousand dollars and you can be up and running in a few hours. It doesn’t take weeks to train multiple parties."
Andrew Black, Vice President of Finance
PayWith
"Instead of spending time maintaining our in-house solution, Acumatica has allowed us to use that time on things that improve our bottom line and focus on making new and better products for customers."
Chad Lockwood, President and CEO
Lockwood Products

Ready to put Acumatica to work for you?