The famous quote from Benjamin Franklin, "Nothing can be said to be certain, except death and taxes," rings true.
Everyone dreads the word "tax." Making sure that your company is charging the correct taxes can easily become a full time job and end up costing more money than anticipated. The fear of an audit drives this point even further.
SalesPad GP (now known as SalesPad Desktop) currently supports two main ways to obtain sales tax:
- The main method is to use GP tax schedules and allow eConnect to determine the appropriate taxes. This works well for smaller businesses; however, when your company starts to grow, the maintenance for the tax schedule details also grows. One little known fact is that Value Added Taxes (VAT) is currently supported for sales tax calculation when using GP tax schedules.
- The second method is to use a third party tax service. SalesPad currently integrates with both Avalara and Wolters Kluwer CCH* for calculation of sales tax. The bonus for using these third-party tax services is that you now do not need to maintain tax details.There are also a host of reporting advantages.
SalesPad GP has never tackled purchasing taxes because eConnect never supported purchasing tax calculations.
We are currently in our testing phase for implementation of purchasing taxes. This will also include VAT using the GP tax schedules. Purchase Order Taxes are planned for a Q1 2015 release.
We currently do not support third-party purchasing tax calculation; however, that may change in the future.
*Wolters Kluwer CCH: We currently support CCH Sales Tax Office and CCH Sales Tax Online. There have been talks to support the newer CCH SaaS in the future. Talk to your sales representative if you are interested.
— Trevor Morehead