As small and medium-sized businesses undergo rapid expansion and growth, they are often faced with a myriad of sales tax challenges, particularly within the retail and e-commerce sectors. The complexities of managing sales tax compliance can be overwhelming for smaller businesses, especially when juggling various omnichannel strategies to handle their financial operations.
This can leave room for errors and inaccuracies, ultimately leading to potential issues such as back taxes, penalties, and interest that could severely impact the financial health of the business. To avoid such pitfalls, businesses must streamline their tax processes and ensure compliance to mitigate any potential risks.
How Can Avalara Help?
Upon evaluating their options, businesses often quickly recognize Avalara as the ideal solution for automating sales tax calculations, managing exemption certificates, and handling returns efficiently.
With Avalara AvaTax in place, sales tax is applied in real-time during transactions, utilizing up-to-date rates and ensuring accuracy at the point of sale. This seamless process allows for easy adaptation as businesses grow and even expand into new locations.
When it comes to returns, the transaction tax data seamlessly flows from Avatax into Avalara Returns, where returns preparation is automated, simplifying filing processes across all jurisdictions and consolidating payments effectively.
In addition, Avalara CertCapture empowers businesses to manage exemptions effortlessly and confidently. Tax exemption certificates are stored securely in the cloud for easy access and audit readiness. Automatic tracking of expirations and renewals, along with proactive reports on missing certificates, ensures compliance and peace of mind.
Easy Integration & Great Results
Avalara connects directly with NetSuite, QuickBooks, and more so it makes integrating it into an existing business super easy, turn-key process. From startups to multinational corporations, Avalara has become a trusted partner in simplifying tax calculations and ensuring compliance.
Eliminating the need for a full-time tax accountant, saving money in back taxes, interest, and penalties, and handling growth are just some of the great benefits of integrating Avalara into a business's operations.
Pairing that with the benefits of an outsourced client accounting service provider like AccountingDepartment.com would immediately set a business up for success in its bookkeeping and accounting, preparing it to scale and overcome tax challenges with ease.
