The odds that your business will be targeted for a sales tax audit is probably greater than you realize. To make up budget shortfalls, states are increasing the number of auditors on their payroll and the frequency and volume of audits.
Compliance is comprised of four main areas:
Without an automated solution, calculating sales tax within an ERP requires manually entering the city, county, and state where your company is required to collect sales tax, as well as tracking rate, rules, and boundaries changes as they happen.
Electronic Data Interchange (EDI) enables the computer system of one company to “talk” to the computer system of another company and digitally exchange data. Companies that are EDI-enabled can send and receive business documents electronically with their trading partners.