Dec232024
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Simplify Tax Compliance with Acumens e-Tax for Business Central

Tax compliance is a critical element of modern business operations. With the complexities of sales tax rules across different states, industries, and customer types, businesses need a solution that simplifies tax calculations while ensuring accuracy. That’s where Acumens e-Tax (Enterprise) steps in. Designed specifically for Microsoft Dynamics 365 Business Central and Dynamics NAV, this app introduces address-specific sales tax fetched in real-time from external APIs. Let’s explore its features and how they can revolutionize your business processes.

Real-Time Address-Specific Sales Tax Calculation

One of the standout features of Acumens e-Tax is its ability to fetch and calculate real-time sales tax rates based on the document-specific address. By leveraging external APIs like TaxJar, ZipTax, and USGeocoder, businesses can ensure that the correct tax rates are applied instantly. These APIs are subscription-based, giving you the flexibility to choose the one that fits your business needs.

 

Enhanced Address Verification for Accurate Tax Calculations

Tax calculations are only as accurate as the addresses they are based on. Acumens e-Tax integrates with address verification APIs such as UPS.com and Smarty.com to validate addresses before calculating taxes. This ensures that every tax calculation is grounded in precise data, reducing errors and enhancing compliance.

 

Comprehensive Features for Sales Tax Management

Acumens e-Tax comes packed with features tailored to meet the diverse tax requirements of businesses. Here’s a closer look at some of its key capabilities:

  1. Field Change Controls

Changes in tax-related fields on an open document automatically trigger a recalculation of sales tax. Once a document is released, these fields are locked to maintain data integrity.

  1. Sales Tax Exemption

Customizable exemptions can be set up based on Sell-to Customer, Bill-to Customer, or Ship-to Address, allowing for precise tax application across different states.

  1. Multi-Company Nexus

For businesses operating multiple registered companies within Business Central, Acumens e-Tax provides the ability to manage tax liability separately for each Nexus State. This is achieved through the use of Location, Global Dimension 1, and Global Dimension 2.

 

Specialized State-Based Tax Features

Hawaii Labor Exemptions

Labor in Hawaii is subject to taxation regardless of customer exemptions. Acumens e-Tax incorporates this unique requirement, ensuring compliance with state laws.

Reseller Use Tax

This feature caters to resellers by differentiating between taxable items consumed within the company and non-taxable items sold for resale.

Hawaii Reseller Exemptions

In Hawaii, resale items attract a specific tax rate defined by the state. This app allows for these rates to be updated easily whenever needed.

California Farmers

California farmers benefit from a reduced tax rate on state taxes. Acumens e-Tax seamlessly applies this reduction, making it easier to comply with regional regulations.

Retread Tax

California’s unique Retread Tax rule requires 75% of the line item amount to be taxed. This app ensures accurate calculations for such specialized requirements.

 

Addressing Diverse Business Needs

Destination-Based and Origin-Based Sales Tax

Different states have different rules on whether sales tax is calculated based on the ship-to or ship-from address. Acumens e-Tax handles these variations effortlessly, ensuring compliance regardless of the state’s policy.

Credit Sales Tax

Sometimes, tax corrections are necessary. This feature allows businesses to adjust sales tax amounts without recreating the entire sales document.

Override Tax Rate

If the rates fetched from external APIs aren’t suitable, users can define custom tax rates for specific customers. This flexibility ensures customer satisfaction while maintaining compliance.

 

Advanced Taxation Scenarios

Freight and Service Tax

The app supports freight tax and service tax calculations, adhering to varying state rules. Whether it’s shipping or service charges, taxes are calculated accurately to match the regulations.

Extended Taxability

Taxation scenarios can get complex. Acumens e-Tax accommodates dependencies like items being taxable or non-taxable based on their association with specific resources or resource groups. It can even add resources to documents automatically when certain items are sold in specific states.

Exact Tax Reversing

When issuing a credit memo, this feature ensures that the original invoice’s tax rate is applied, maintaining consistency and accuracy.

Updating and Reporting Features

Updating Posted Documents

Businesses can update the taxability or address details of posted documents. These changes trigger a recreation of sales tax entries for accurate reporting, with every change logged for transparency.

Sales Tax Reporting

Reporting is made seamless with features like:

  • Sales Tax Report
  • Sales Tax Report Logs
  • Override Documents for correcting tax liabilities

These tools ensure that businesses can meet their reporting obligations with ease.

 

Seamless Integration and Global Availability

Acumens e-Tax is designed for both the Essential and Premium editions of Microsoft Dynamics 365 Business Central. The app is available in all countries where Business Central is supported, making it a truly global solution. Currently, it is offered in English (United States) to cater to the widest possible audience.

 

Why Choose Acumens e-Tax?

Acumens e-Tax (Enterprise) brings unparalleled precision and flexibility to sales tax management. By automating complex tax calculations and accommodating unique state-based requirements, this app helps businesses save time, reduce errors, and stay compliant with ever-changing tax laws. Whether you’re a reseller, a multi-state operator, or a business with specific tax exemptions, Acumens e-Tax has got you covered.

 

Contact Us Today

Ready to simplify your sales tax processes? For more information, contact SBC Dynamics and discover how Acumens e-Tax can transform your tax compliance workflows. Say goodbye to manual calculations and hello to a streamlined, efficient, and compliant tax management system!