Global tax

Multitax

As a truly global cloud accounting system, FinancialForce Accounting supports multiple tax methods that can be tailored for each one of your organizations, including Sales and Use Tax and Value Added Tax. Users can populate tax tables manually or import tax rates from an electronic source. Each type of tax can have one or more dates from which different tax rates apply. This is used to set effective dates for changes in tax rates.

Tax reporting

Taxes are calculated automatically when you enter sales documents and they are also applied automatically to electronic transactions being imported through the FinancialForce API. Tax reports can be generated from the FinancialForce Accounting database. Information can be collected for European Sales List reports, 1099 or other jurisdictional reports.