Invoicing, Payments, & FinancePurpose
1.2. Streamline and automate extraction of taxable invoice data, calculate state, county, federal tax rates, and apply the latest regulations automatically.
1.3. Automates submission of tax reports, generates audit trails, and ensures drilling equipment suppliers comply with construction tax rules, reducing penalties and manual errors.
Trigger Conditions
2.2. Automated trigger when payment is posted or a purchase order is completed.
2.3. Automator initiates upon update in compliance regulations or tax rate datasets.
2.4. Scheduled automation for tax filing cycles (monthly, quarterly, annual).
Platform Variants
3.1. Avalara
• Feature/Setting: AvaTax API – automate tax calculation on invoices; configure via "CreateTransaction" endpoint.
3.2. Vertex
• Feature/Setting: O Series API – automate end-to-end tax determination by integrating with "CalculateTax" functions.
3.3. QuickBooks Online
• Feature/Setting: Sales Tax API – automate tax rules on invoice creation; auto-configure jurisdiction mapping.
3.4. Xero
• Feature/Setting: TaxRates endpoint – automate tax assignment to invoice lines; trigger through invoice POST event.
3.5. Sage Intacct
• Feature/Setting: Tax Detail API – automate filed tax breakdowns; configure "GetTaxDetail" for compliance.
3.6. Zoho Books
• Feature/Setting: Tax API – automate collection and remittance tracking; configure using "List Taxes" and "Create Invoice".
3.7. SAP S/4HANA
• Feature/Setting: Tax Services module – automate compliance checks and returns; set up "Automatic Tax Calculation" feature.
3.8. NetSuite
• Feature/Setting: SuiteTax API – automate and validate tax on every transaction; configure via "Tax Calculation" scripts.
3.9. FreshBooks
• Feature/Setting: Automated tax fields – auto-calculate and apply rates on invoice generation.
3.10. Microsoft Dynamics 365
• Feature/Setting: Tax Automation Service – integrates automated tax code assignments via Finance module automation.
3.11. TaxJar
• Feature/Setting: SmartCalcs API – automate sales tax calculation at checkout; configure with regional settings.
3.12. Intuit ProConnect
• Feature/Setting: Automated e-filing – automates periodic tax submissions through API endpoint setup.
3.13. Stripe
• Feature/Setting: Stripe Tax – enables automated calculation and collection at payment; configure through dashboard automation.
3.14. Bill.com
• Feature/Setting: Automated invoicing engine – automates inclusion and tracking of applicable tax on bill creation.
3.15. Oracle Cloud ERP
• Feature/Setting: Tax Calculation Engine – automate indirect tax configuration, set up using Invoice Tax Defaults.
3.16. Salesforce CPQ (Configure, Price, Quote)
• Feature/Setting: Automated Tax Plugin – automates tax estimate on each quote; set automation triggers on quote approval.
3.17. ADP SmartCompliance
• Feature/Setting: Tax Credits Module – automates management and submission of tax compliance data for suppliers.
3.18. Gusto
• Feature/Setting: Automated tax filing – automates payroll tax calculations and submissions; configure in compliance section.
3.19. BlackLine
• Feature/Setting: Automated Reconciliations – schedules automation for tax account validations and compliance matching.
3.20. Coupa
• Feature/Setting: Tax Configuration – automates validation and reporting on purchase orders and invoices; set automated workflows.
3.21. Billtrust
• Feature/Setting: Automated cash application – automates tax processing for each received payment.
3.22. Shopify
• Feature/Setting: Automated Sales Tax Settings – triggers tax calculation workflows on order; configure zones and rules.
Benefits
4.2. Minimizes risk of human error and tax penalties by using automated workflows.
4.3. Enables automated updates to tax rates and rules as regulations change.
4.4. Centralizes compliance documentation, creating automated audit trails.
4.5. Ensures consistency and accuracy across global and local tax calculations for the drilling equipment sector.