SuiteTax
- Category: ERP/Accounting Engine, Billing Engine
- Business Process Area: Order-to-Cash
SuiteTax is an indirect tax solution used to determine and calculate taxes across multiple tax jurisdictions (US, VAT countries, Brazil and India). Natively built on the NetSuite platform, SuiteTax drives efficiency by integrating transaction tax calculations and reporting functionality within the same suite that companies use for sales, billing, revenue recognition, payment processing and much more. The related SuiteTax API is used by best-of-breed tax-service partners to integrate their solutions with NetSuite. Users have the ability to choose either a single tax partner for all their global tax calculations or from multiple partners.
Key Benefits
- Eliminate manual tax calculations with built-in tax logic that automates and determines taxability and calculation on every sales and purchase transaction on every item.
- No need to monitor tax rates as rates are automatically updated to NetSuite accounts each month1.
- Use multiple tax partner engines to tailor a solution to geographic requirements, including the use of multiple tax jurisdictions per subsidiary.
- Ensure compliance with indirect tax and transactional tax obligations.• Flexibility to import transactions from multiple systems that have their own tax logic.
- Provide greater visibility for audits with drill-down reports through to transaction-level data and system notes.