Tax Management in Acumatica Cloud ERP

Life, death, and taxes are all guaranteed, but failure to manage the latter could result in the death of your business. From sales taxes to corporate income tax, it’s vital for a business to prepare for and set aside money for each month, quarter, and year.

Planning for taxes requires a lot of small and often laborious calculations for users, and for those relying on manual processes to track and monitor the tax bill, inaccuracy and manual work can leave you lost. But the right tax accounting software will let you configure tax rates, perform tax accounting, and generate tax reports all in one place. 

Built in the cloud and put into action by expert ERP partners in the Donas Group, Acumatica’s Tax Management functionality gives users the ability to connect a variety of solutions and calculate taxes correctly in every transaction.

Why Acumatica Tax Management Makes Life Easy

Acumatica Tax Management streamlines and automates the tasks involved with configuring, collecting, managing, and reporting tax. Tax Management integrates with the rest of the Acumatica Financial Management suite, enabling you to centralize your tax information and easily generate the tax filing reports that are required of your business. Here are just some of the benefits of Acumatica’s Tax Management Solution:

  • Taxes Configured on Your Terms: Plan your taxes on your location, business model, and needs. Acumatica’s Tax Management functionality supports a variety of taxation models including sales, use, withholding, VAT, and reverse VAT taxes.
  • Measurement Made Easy: See the big picture with a tax management solution that integrates with whatever you need. Calculate taxes automatically based on the tax zone assigned to the customer, employee, or vendor record, and the tax category assigned to inventory items.
  • Outflows Tracked: By integrating with Accounts Payable, you can easily specify the frequency of payments and set aside money in accounts payable with appropriate ledger postings.

Watch our Acumatica demo to learn more.

Key Features of Acumatica Tax Management

Ready to help you work from anywhere, Acumatica Tax Management is built to simplify configuration, minimize errors, reduce data entry, and pay with ease. Here are just some of the features behind this:

Tax Reporting Flexibility

Configure tax reporting requirements for each tax. Generate summary reports and retrieve tax details for each tax zone. Prepare the statistical information required by tax authorities for filing tax reports.


Transaction Drill Down

Maintain a complete record of each tax transaction, including the originating module and transaction, the taxable amount, tax, reference number, and document type.


Easy to Use Direct Tax Adjustments

Review tax reports and enter corrections directly from the Tax Management module. Corrections update the specified tax liability account in the general ledger as well as the statistical tax information.

Audit Trail

Make sure everything is tracked. The system maintains the details of all tax-related documents, including the originating module, reference numbers, and date of the record. Adjustment can only be made through auditable transactions.

Acumatica has made our financial systems much more efficient. It provides us one integrated system with accurate sales and revenue information providing detailed financial reports that will allow us to accelerate our growth.

– Christy Lin, Operation Director of Antenova Limited

Get to Know Acumatica Financial Management and The Donas Group

Built to integrate with a variety of applications—whether they are made by Acumatica or a third-party vendor—Acumatica’s financial management functionality delivers a strong backbone for your business. As a leading provider of this usable and functional application, The Donas Group can help you make the most of your journey to the cloud. Get to know more about our work and contact us for a free consultation.