CereTax P2P has the unique ability to interpret and tax sensitize subjective purchase transactions through a logical and intuitive Rules Engine.
Are you paying the right sales and use taxes on your purchases?
Most simply don’t know. Many companies just pay whatever tax their vendors charge. Some companies rely on tedious manual internal reviews. Others have attempted to shoehorn a tax platform that isn't designed natively to adapt to the purchase side of transactions. At the end of the day, the answer is elusive.
This is why state tax auditors focus most of their review on purchases, and why consulting firms focus their refund reviews entirely on purchases. Simply stated, most sales and use tax errors occur on purchases, and these errors are expensive. Recovery fees, lost opportunity costs, audit penalty and interest, and audit management, just to name a few.
Taxability for purchases is typically very subjective. It is driven more by “HOW” products and services are being used rather than simply “WHAT” is being purchased, or “WHERE” the purchased product is being used. In addition, the taxes are not black and white, they are often grey and subject to interpretation.
Download the guide and see how the CereTax P2P solution can help you navigate purchase-side taxation.Get Our P2P Solution Overview
Determine if you have recoverable tax dollars.
CereTax gives you direct insight into your sales & use tax.
With the CereTax P2P software solution you'll have access to tax expertise to help you:
- Continually optimize your configurations based on transaction throughput
- Accurately situs your transactions
- Analyze results to provide guidance to make your workflow smarter
- Collect the right information to make accurate monthly tax filings
- Have granular visibility into all your transactions and the ability to review them quickly
- Ensure accurate general ledger entries are generated for accruals
- Provide reporting output to support analysis, audits, and compliance
CereTax P2P goes beyond basic purchase-side taxation and allows for multifaceted use cases.Download Our P2P Whitepaper
How does CereTax P2P handle your purchase-side taxability?
CereTax P2P has the unique ability to interpret and tax sensitize subjective purchase transactions through a logical and intuitive rule based engine. This Rules Engine uses different combinations of data attributes from your ERP combined with logical operators to create an intelligent decision matrix. The decision is then mapped to proprietary Product/Service (PS) Codes representing taxability across all states, which are updated monthly.
- An Accurate Automated Purchase-side SUT Process
- Company Specific Tax Rules
- Industry Specific Taxability Content
- Visibility to All Transactions
- Complete Transparency from Transaction to Rule to Content
- Robust Reporting to Support Analysis and Audits
- Elimination of Costly Recovery Audits
- Reduced Compliance Burden