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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Prior to meeting with Advanced Business Software Corp, The City of Garden City was planning to replace Dynamics GP due to a lack of support from the previous VAR and their poor implementation. Once we engaged with Advanced Business Software they were able to reconfigure Dynamics GP to our needs and their staff gave us the training and resources we needed to do a proper implementation. Advanced Business Software has become our consulting and support team and we are extremely pleased with how efficient and prompt they are in handling all of our accounting questions and implementation needs. I would recommend ABS services and support personnel to anybody considering purchasing Dynamics GP.

Finance Director, City of Garden City

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