CereTax P2P
Analyze Your Tax On Purchases
with CereTax Core Features
Tax Decisions Explained
Explanations for taxability decisions along with statute and citation references are available at a transaction level right through the web portal.
Advanced Rules Engine
Intuitive rules engine handles custom data management needs such as tax determinations, tax overrides and custom tables.
Precise Tax Assignments
Pinpoint accuracy with our industry first, proprietary GIS method – even for remote locations!
Robust Reporting & Analytics
Centralized reporting across all business units with search capabilities rather than static fields.
CereTax Solves Taxation for Purchases
Continually optimize your configurations based on transaction throughput
CereTax P2P gets smarter over time. The more transactions it sees, the more informed it becomes.
Yesterday’s transactions form the basis for today’s tax rule configurations.
Accurately situs your transactions
Minimize ERP customization by deriving location identifiers using available attributes via robust rules engine.
Graphic Information System (GIS) analyzes and displays geographically referenced data attached to each jurisdiction.
Jurisdictions are layered around a pinpoint location to accurately display the boundaries of each authority.
Analyze results to provide guidance to make your workflow smarter
More than a tax calculation platform, CereTax provides robust data analytics tools and integrated data analytics with tax configurations.
Granular visibility into all your transactions and the ability to drill down into the details
Audit Management is centralized through the CereTax platform.
Every transaction can be traced to source data with references to specific authoritative research – statutes, rules, regulations, hearings, letter rulings, etc.
Ensure accurate general ledger entries are generated for use tax accruals
Use tax accrual entries are generated from the same source and feature as compliance output to minimize reconciliation effort.
Provide reporting output to support analysis, audits, and compliance
Flexible report templates enable you to generate output quickly and accurately. You can also create your own report templates for specific uses.
CereTax P2P Solution Workflow
Integrate / Communicate
In milliseconds CereTax receives and returns the information to the purchasing (PO/AP) platform. In addition to a real time API call, a secondary batch upload can provided an increased level of accuracy.
What Data / Mapping
CereTax sends the relevant information back to the purchasing platform or ERP and stores the necessary data for reporting.
Managing Results
Tax Variances - the difference between the tax that a vendor charges and the tax that CereTax calculates - represents a key objective of P2P. Identifying where vendors are over charging or undercharging tax is simple and intuitive.
Reporting & analytics, updating GL, compliance, audit protection
Reporting and analytics information is stored at the transaction level for detailed interactive reports for internal use and audit support.
Revolutionizing Purchase-side Tax Analytics
Flexibility
CereTax is the only true cloud indirect tax solution built to automatically scale to meet your growing needs when you:
- Move into new vertical markets, migrate and merge new systems, or add new products.
- Expand your tax footprint and update your tax profile.
- Need visibility and deep analytics into all of your systems.
All through one platform!
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Certainty
Most sales and use tax errors occur on purchases, CereTax gives you tax certainty so you don't worry about dealing with:
- Recovery fees on underpaid taxes.
- Lost opportunity costs from overpayments.
- Managing an audit alongside the penalties and interest that come with it.
Visibility
CereTax has the unique ability to interpret and tax sensitize subjective purchase transactions through a logical and AI based rules engine. These rules and the transactions they interact with are easily visible down to a granular level.
- View the "what" and "how" for any and all transactions hitting certain taxability rules.
- The rules engine makes the subjective taxation determinations easy to find and adjust.
- The updates to taxability are monitored monthly to make sure what you see is what you get.
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Accuracy
Accuracy is two-fold: the actual tax rate itself and the geolocation of the rate where it applies. With our in-house research staff, comprised of accountants and JD's, we track all changes down to the citation for every taxable jurisdiction in the US and Canada to ensure all tax rates are accurate and constantly updated in the platform.
Maintaining and updating geocodes is a thing of the past. With our industry first, proprietary GIS method for pinpoint accuracy you can:
- Situs remote locations for taxes.
- Allocate taxes across multiple jurisdictions for physical equipment, pipelines, or other real property.
- Benefit from latitude and longitude levels of precision.
Security
CereTax uses a state-of-the-art security matrix to continuously monitor 100+ internal security controls across the organization against the highest possible standards. Which means:
- All connections to CereTax, as well as all customer data in the platform, is encrypted in transit and at rest.
- A user's data is always processed in isolation so there is no risk of overlapping data with other users.
- You get the highest grade protection possible for your business' data.
When it comes to indirect tax, we've got you covered
CereTax and our world class network of partners can solve all your business tax challenges. From sales, to tax on purchases, exemption management, registrations and compliance, we can handle it all.