Tax Management

Tax Management

The Tax Management (TX) module provides centralized tax configuration, management, and reporting.

Tax Configuration

Tax Report

Tax Adjustment

Highlighted Features

  • FLEXIBLE TAX CONFIGURATION: Acumatica provides support for Sales, Use, Withholding, VAT and Reverse VAT taxes. For each tax you can specify multiple rates with different start and end dates as well as minimum and maximum tax amounts. Taxes can be calculated on each line item or the entire document amount. Taxes can be calculated on other taxes or only on line item charges.
  • INTEGRATION WITH FINANCIAL MODELS: The Tax Management module is integrated with all Acumatica modules that require tax calculation. Tax calculation is performed automatically based on the tax zone assigned to customer, employee or vendor record, and the tax category assigned to inventory items. Manual tax adjustments are also possible. Calculated tax is posted to a dedicated tax liability account in the general ledger and to designated accounts in the Tax Management module for future tax reporting.
  • AUTOMATIC OFFSET WITH ACCOUNTS PAYABLE: Acumatica allows you to represent tax agencies as vendor accounts. Within the tax vendor account, you can specify the frequency of tax reporting and assign a vendor code to the tax. Each tax period, you can prepare tax reports for the tax vendor and then close the tax period. Acumatica will automatically generate a bill in accounts payable that will offset tax liability for reported period with the AP account associated with the tax agency.
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After our Company tried working with a ‘large consulting firm’ and enterprise software that choked our processes, as CEO, I decided we should return to the hands-on support we had previously enjoyed with Advanced Business Software Corp. and their staff. Three years later I can say with confidence that this was the best decision we have made in the recent history of our nearly 30 year-old sales and distribution company. Advanced Business Software Corp. effectively provided a solution that was practical and economical and returned our Company to a leadership position as a niche player in the Dental industry.

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