Accounting Seed Financial Suite has two options for managing sales taxes:

  • Accounting Seed Native Tax Tool - This tool allows companies to automate the calculation of sales and purchase taxes on billings and accounts payable in Accounting Seed. This is also applicable to VAT, GST as well as traditional Sales tax.
  • Accounting Seed Avalara Integration - The Avalara tax tool, which is a third-party tax solution offered by Avalara, provides automated sales tax rate management, address validation, and sales tax calculation. Click here for more information on the Accounting Seed Avalara integration. 

Using Accounting Seed's Native Tax Tool involves the following steps: 

  1. Create 'Tax Rates' (products) in the native Salesforce Product object. For example, create tax rate products for Illinois State Sales Tax, Cook County Sales Tax, Chicago City Sales Tax.
  2. Update existing product records by setting the Tax Type field on the product to "Taxable Product" or "Tax Exempt Product". 
  3. Update Account records by clicking the New Tax button in the Taxes Related List and specify the Tax Type ("Sales," "Purchase," or "Sales & Purchase") and the Tax Rates (defined in step 1) the customer is subject to. (If the Taxes Related List is not visible on the page, you may need to edit the Page Layout to add it). 
  4. After adding billing lines to a billing or payable lines to an account payable, click the Calc Tax button. (If the Calc Tax button is not visible on the page, you may need to edit the Page Layout to add it). 
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6 Comments

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    Rebecca Ralls

    If a customer receives shipments at several locations - in different tax (and non-taxable areas), What is the best method to manage different tax rates for different billing addresses?

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    Tony

    Hi Rebecca,

    We recommend using child Accounts for the different locations and tying them all together with a parent Account. 

  • 0
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    Rebecca Ralls

    Ok.  And just to clarify - do you recommend using the child account as the main account only for the billing?  Or all the way through from the Opportunity -> Sales Order (if there is one) -> Billing?

     

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    Tony

    We would recommend using it for all related transactions, except maybe cash receipts. 

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    Rebecca Ralls

    If you view the opportunity related list on a parent account, does it show the opportunities of child accounts? Or do you lose that visibility from the parent account level?

    What are the other benefits/cons of using it all the way through?  

     

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    Tony

    Rebecca,

    Most reports in Salesforce can be run on the account hierarchy to include parent and child accounts. 

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