Looking to roll out sales tax for the first time? Avoid these common mistakes.
This guide covers the 8 most common sales tax mistakes:
Missing integration points
Failing to notify customers about sales tax
Focusing only on economic nexus
Ignoring home rule jurisdictions
Assigning taxability based on the secondary purchase reason
Not accounting for delayed true-ups in your business
Not automating filing frequency
Getting any of these pieces wrong may result in an inaccurate sales tax assessment and loss of revenue.
The good news is that with the right tools managing tax on software can be straightforward. At Anrok, we have built a sales tax solution specifically for subscription business models. Download the guide to see how you can avoid these common sales tax mistakes.
An early mistake finance leaders make is that they focus too much on the integration source - I need "XYZ" integration - and overlook the other surface areas within that one integration that can modify an invoice.