Sales and Use Tax Software: Comparing the Leading Platforms Candid Evaluations for Your Next Investment in a Compliance System

Transcription

1 presents Sales and Use Tax Software: Comparing the Leading Platforms Candid Evaluations for Your Next Investment in a Compliance System A Live 110-Minute Teleconference/Webinar with Interactive Q&A Today's panel features: Mike Hayes, Director, The Gagnon Group, Boston Michael Figueroa, Tax Systems Manager, Citadel Investment Group, Chicago Tony Chavez, Director of Tax Technology, Ryan, Burlington, Mass. Tuesday, September 29, 2009 The conference begins at: 1 pm Eastern 12 pm Central 11 am Mountain 10 am Pacific The audio portion of this conference will be accessible by telephone only. Please refer to the dial in instructions ed to registrants to access the audio portion of the conference.

2 Sales And Use Tax Software: Comparing The Leading Platforms Webinar Sept. 29, 2009 Mike Hayes The Gagnon Group Tony Chavez Ryan Michael Figueroa Citadel Investment Group

3 Sabrix Global transaction tax engine that supports more than 170 countries Single tax engine that will support sales, use, value-added and other indirect taxes Web-based interface with simple navigation The ability to apply company/division relationships to nexus and other taxability drivers Mapping of ERP products/skus to product categories Exemption and direct-pay certificates, customer exemptions, product taxability and allocations can be applied against transactions Ability to apply additional fee-based taxes in addition to standard taxability rules Address validation is based upon ZIP+4 Michael Hayes 2

4 Sabrix (Cont.) Ability to extract audit data that can be loaded into a tax compliance system TransEditor provides the tools for creating logic using any combination of inputs to drive specific taxability results Don t go crazy with the number of TransEditor rules WorkBench provides the ability to test taxability rules configured in Sabrix Integration (Sabrix connectors) with all leading ERP systems including SAP, Oracle, PeopleSoft and Ariba Ability to apply additional taxability drivers in Pre Calc and Post Calc Sabrix retail point-of-sale solution Michael Hayes 3

5 Vertex L Series COBOL/RPG-based product Supports sales, use and consumer use transactions Supports simple VAT transactions GeoCodes (nine-digit code) for each specific taxing location Tax Decision Maker (TDM) used to support and maintain nexus, exemption certificates and product taxability Ability to extraction data (TAX2000 file) from register database that can be loaded into Vertex Sales Tax Returns Latest release 4.3 (March 2009) Enhancements Version 5.0 (due to be released September/October 2009) Major enhancement is ability to process ZIP+4 validation Upgrade to Q or O Series Michael Hayes 4

6 Vertex Q Series Supports sales, use and consumer use transactions Supports simple VAT transactions Client/server-based program with a light footprint User interface (UI) easy to navigate and configure Tax Decision Maker (TDM) used to support and maintain nexus, exemption certificates, customer exemptions, product taxability TDM Importer/Exporter provides the flexibility to mass-load TDM rules GeoCodes (nine-digit code) for each specific taxing location Ability to extract data (TAX2000 file) from register database that can be loaded into Vertex Sales Tax Returns Michael Hayes 5

7 Vertex Q Series (Cont.) Integration with all leading ERP systems including SAP, Oracle, PeopleSoft and JD Edwards Common interface issues Sales tax vs. seller use tax Product code mappings Nexus settings for receivables and payables Current releases Version 3.2 and below Version 3.3 and higher Enhancements Version 5.0 (Q4-2009) ZIP+4 validation Conversion program is available that will convert your TDM rules into O Series for easy migration Michael Hayes 6

8 Vertex O Series Global transaction tax engine that supports more than 240 countries Browser-based user interface Expanded tax rule set The ability to apply company/division/department relationships to nexus and other taxability drivers Mapping of ERP products/skus and other data drivers to tax categories Transaction Tester provides the ability to test taxability rules configured in the Taxability Manager Security and Audit Log offers controlled access through role-based security, to ensure your tax management processes are in SOX compliance Michael Hayes, Tony Chavez 7

9 Vertex O Series Tax area IDs are NOT the same as GeoCodes (Vertex L and Q Series) Vertex O Series modules (each module requires a separate license) Sales tax (U.S. and Canada) Consumer use (U.S. and Canada) VAT purchases VAT supplies Leasing POS (available as a light footprint or as data extraction for rates and rules) Tax Assist provides the tools for creating logic, using any combination of inputs to drive specific taxability results Integration with all leading ERP systems including SAP, Oracle, PeopleSoft and JD Edwards Michael Hayes 8

10 Built-in tax rate look-up Vertex O Series Hierarchical entity structure Exemption certificate tracking Integration with Vertex Sales Tax Returns Future integration with Vertex ECM Expanded reporting capabilities Tony Chavez 9

11 ADP Taxware Taxware Enterprise Front-end global transaction tax calculation engine that supports more than 250 jurisdictions Single tax engine for global sales, use, VAT and other consumption taxes User-friendly, browser-based interface with intuitive workflow Multi-entity support with the ability to copy or share nexus or other attributes between business units Comprehensive off-the-shelf global content: Goods, service, entity and usebased rules, rates with the ability to build custom content Easy mapping of source (i.e., ERP) item categories to goods/service codes Content certified by the Streamlined Sales Tax Project governing board Street-level address validation Tax rule customization gives users flexibility to accommodate almost any business need Mike Figueroa 10

12 ADP Taxware Taxware Enterprise (Cont.) Robust, online tax calculator allows for easy transaction testing Calculation results may be fed into TaxSolver (ADP s filing solution), for automated tax returns and reporting A tax department can easily manage an internally hosted system or opt for the ASP model Security that allows for tight restrictions on data access privileges, for the appropriate users Automatic or manual tax research update Integrates easily with client-created systems as well as leading enterprise resource planning (ERP) systems Ability to be run on multiple application server/database platforms Hosted environment resides in a Tier 4 data center Excellent customer support for both software and environment variables Mike Figueroa 11

13 CorpSystem Sales Tax Office Supports sales, use and consumer use transactions for U.S. and Canada Ability to set nexus configuration down to the local and district levels, per business unit Product group and item database based upon CCH industry leading research Specialized product group and item databases: Add-on databases for food, restaurant and durable medical equipment databases, available as annual subscriptions Easy mapping of ERP products/skus to STO product groups and items Data configuration module allows custom data transformation, per business units Flexible to configure almost any business requirement Michael Hayes 12

14 CorpSystem Sales Tax Office (Cont.) The ability to define and configure address-sourcing requirements based upon ship-to, ship-from, order placement and order approval STO GeoCode (12-character code) that uniquely identifies jurisdiction Format -> Country State County FIPS GeoBlock (e.g. US ) Sales tax address validation API - Ensure reliable address information by integrating address scrubbing and validation Integration with the accounts receivable and accounts payable modules for SAP, Oracle and Microsoft Dynamics AX, Dynamics GP and Dynamics NAV The ability to produce an export file based upon audit history tables that can be imported into CorpSystem Sales Tax Returns online Runs on MS SQL server platform Michael Hayes 13

15 Second Decimal - Pinpoint Centralize tax decisions on purchases only for the U.S., Canada and Puerto Rico Unobtrusive process to acquire a robust data set for tax decisions without the need for development of an interface No default tax system Uses algorithmic approach to examine the quality of data for a rule set not quantity Ability to correct and adjust already processed transactions Reports differences between amount calculated by Pinpoint to amounts charged by the vendor Data retention and storage Tony Chavez 14

16 Second Decimal - Pinpoint AP Data Extraction is Created File Tax Returns PinPoint TM User Loads Data File PinPoint TM User Runs Post Accrual Reports for Compliance Data File is Processed Against PinPoint TM Matrices General Ledger Extraction from PinPoint TM PinPoint TM User Runs Suspended and Processed Reports PinPoint TM User Runs Pre-Accrual Report to Analyze Reasonableness PinPoint TM User Reviews/ Processes Transactions in PinPoint TM Tony Chavez 15

17 Vertex Sales Tax Returns Tax compliance software that supports U.S., Canada and Puerto Rico Can easily import tax data from Vertex L, Q or O Series Easily create custom imports from other sources (GL, other tax calculation software, Excel spreadsheets, delimited file) The ability to manually enter data, either on the form or through an adjustment form Identifies, tracks and stores credits Supports EDI filing in 18 states Enhanced reporting ability through management toolkit Tax Calendar Report Writer Document Manager Michael Hayes 16

18 CORPTAX - CORPSales Legacy CORPTAX user interface Excellent import functionality with reformatting capability that allows flexibility to work with multiple front-end systems Gross-up or calc-down sales/use tax, sales and purchases Minimal system requirements Ability to create pre-return processing calculations that post-calculate amounts to the database Ability to customize return calculations Quick and easy data querying from amount database Good security and audit trail Online return review with true drill-down capability Return batch processing Updates available via the Internet Mike Figueroa 17

19 ADP Taxware - TaxSolver Return preparation software supporting 1,200-plus U.S. state/local and Canadian forms Simple import of Taxware Sales and Use Tax System and Taxware Enterprise data Exception reporting for unconverted or mismatched data User-friendly interface with logical workflow Schedules filing frequency, estimated payments, default filings and more Updates automatically or manually each month with correct rates/forms Ability to adjust rates and data on all lines and fields in the return Ability to generate soft- or hard-copy check requests MS SQL Server-based; allows for easy back-end reporting and troubleshooting Allocations and adjustments can be exported into Excel for further analysis Mike Figueroa 18

20 CCH - CorpSystem Sales Tax Returns Online Software as a service Web-based ASP sales and use tax return preparation Initial set-up source file(s), then FTP monthly to vendor Gross-up or calc-down sales/use tax, sales and purchases Review returns online Ability to override amounts on return with audit trail Export to Excel for check request processing Seamless updates available via the Internet Mike Figueroa 19