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Things to know before buying a sales tax software

Tax filing and compliance can be a challenging process to undertake manually, especially for a large-scale organization. Factors like jurisdiction, compliance procedures, and stringent filing deadlines can truly make sales tax and VAT computations a major headache. The solution is to purchase premium tax management suites that automate the process from start to end and provide a truly hassle-free experience.

Things to know before buying a sales tax software
Here is a brief overview of the key features to look out for and the five best software you can consider for the business.

Key features to look for in sales tax software
With software automation, your business can adhere to compliance requests and never miss a deadline for filing. Read on to know the key features to look for in a sales tax software.

  • Ease of use
    One of the most important points to consider is the ease of use. All employees in the organization must be able to use the software and integrate it into their daily workflow. Employees must be able to upload data, compute taxes, and reconcile all finances easily.
  • Accuracy
    Automation software is updated regularly to include plugins for online validation. This way, all recent amendments to the tax structure can be incorporated, keeping your business audit-ready.
  • Nationwide jurisdiction
    Sales tax is largely applicable in all 50 states. The software you choose should allow your company to register nationwide so that sales tax can be calculated for all the states. This also makes it easy for the company to account for and reconcile balances.
  • Customer support
    Customer support to address any technical issues or matters with regards to compliance is a key feature to look for in sales tax software. Opt for premium plans and pricing options that guarantee 24/7 executive support and priority consults to address any and all software management issues.
  • Pricing
    Affordability is another major factor to consider before taking a premium plan. Consider all additional costs, operational expenses, and charges for using the software. Ensure that you do not pay for solutions that are not necessarily needed in the long run. Pay for only what your business needs.

Continue reading to know more about popular sales tax software in the market.

  • TaxJar
    TaxJar ranks among the best sales tax automation software for commercial compliance. The software covers nearly 11,000 jurisdictions to ensure that all state-wise records are maintained error-free. The software allows seamless integration across multichannel sales and tracks all tax receipts with a single dashboard in real-time. It is also possible to directly integrate the software with any existing enterprise resource solutions (ERS) your business uses. Moreover, the customer service team is always at the ready to provide assistance for any product-related queries, technical issues, and general grievances. With TaxJar, it is easy to calculate, generate reports, file taxes, and never miss a crucial filing deadline.
  • Davo Sales Tax
    Davo provides automated sales tax software for small businesses to calculate, file, and reconcile sales tax for daily transactions. The software can be easily integrated with some of the most popular points of sale systems in the market, including clover, Square, Toast, Lightspeed, Intuit Quickbooks, and Ovvi, among others. All you have to do is provide detailed sales transactions, and the software will automatically set aside the amount of sales tax due daily. The calculation is done in real-time, with automated filing enabled for the due date. All data is stored in a secure encryption server, with the latest SSL and web interaction certificates enabled for maximum data security. Additional features also include cloud backup and rapid data recovery.
  • Sovos Taxify
    Sovos Taxify provides exclusive enterprise solutions for sales tax and VAT compliance. The software is designed to simplify compliance, capture tax computation from all operations, asses and control exemptions, and automatically file with the proper tax authorities. Sovos can be integrated with existing ERS and POS systems. It is also possible to determine accurate rates, validate invoices, manage all exemptions, and automate filing for the enterprise. You can additionally manage all VAT obligations with real-time updates, automated data processing, data analytics, and automated uploads with the governing tax body.
  • Lovat
    Lovat offers smart sales tax and VAT solutions with support available in 57 different countries. The software is ideal for enabling all business expansion plans for global sales. Lovat also covers a large network of jurisdictions for error-free and timely tax compliance. It offers an all-in-one solution for global sales and VAT calculations with accurate reports, so you never pay more than what is due. It also ensures that you never miss a filing deadline as the software is designed to automatically check, compile, and file on the due date. The software can generate reports in all compatible formats so that your business can be audit-ready at all times.
  • CSC Corptax®
    CSC Coprtax® offers all-round tailored automated tax solutions for global sales tax and VAT compliance. Businesses can opt for the CSC Corptax® Single Solution, Corptax® Provision, Corptax® Compliance, and Corptax® Transformation suite technology. These suites are designed to provide a specific set of monitoring tools and resources to ensure streamlined end-to-end tax services. Key features include one-click data access custom automation and workflow, easy cross-platform and industry information exchange, and complete analytics for audit. CSC Corptax® provides solutions for both Federal and State tax filing.

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