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Tax Management

Centralize tax settings, tax accounting, and tax reporting.

How Tax Management Can Work for You

Configure, collect, manage, and report tax. Integrated with other financial modules to centralize tax information and generate required tax filing reports.

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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 in the tax accounting 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.

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Important Features of Tax Management

  • 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 from the Tax Management module. 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.

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