Have you heard already about Quickbooks? Well, I know tons of you didn’t know yet about it, except if you studied or dealing with business management.

What is Quickbooks, anyway? Quickbooks, according to the Wikipedia, is the most commonly used small-business accounting and management software in the US. It is made by Intuit.

However, our concern on this post is not about Quickbooks but about the add-on for Quickbooks which is used for the automation of compulsory taxation. This product is called the “AvaTax for Quickbooks“.

The AvaTax

To let you know, the Quickbooks really helps businesses in the US on their accounting concerns. I don’t know if there are businesses here in the Philippines that are using this software. However, using the Quickbooks alone in dealing with taxes for the products and services of these businesses is quite time consuming and is not accurate.

And to eliminate that problems, Avalara created the AvaTax. Just like what I said above, AvaTax is just an add-on or a plugin for the Quickbooks.

In other words, you still need to install the Quickbooks application and integrate the AvaTax for you to enjoy its capability regarding the Tax Compliance functions, such as:

1. Address validation. AvaTax is capable of verifying customers’ address in the purpose of validating it so that accurate tax rate can be applied into the transaction made.
2. Tax jurisdiction research. To let you know, the US of America have several and different tax rates depending on the customers’ address. So businesses should have to research what tax rate can be applied to certain customers. With AvaTax, the hassle in researching for tax jurisdiction is eliminated. In your Quickbooks’ field for Tax Jurisdiction, you can just enter the term AVATAX, and everything will be set based on the customers address.
3. Rate calculation. AvaTax makes tax calculation easier. You just enter the required data such as the quantity and the products, and the system automatically calculates including the additional charges and especially the tax.
4. Reporting. Avatax is capable of reporting tax details: Sales Tax Details, Sales Tax Details by Invoice and Sales Tax Summary (all states).

To know more about this Quickbooks addon, please visit the demo on the AvaTax for Quickbooks. Please click here. You can also visit the website of the maker of the AvaTax at Avalara.Com.

Note: This post is sponsored by the AvaTax for Quickbooks via the ReviewMe.

Technorati Tags: AvaTax, Quickbooks, Tax Calculation, Accounting, Business Software