Avalara, Inc. (NYSE: AVLR), a leading provider of cloud-based tax compliance automation for businesses of all sizes, today announced the availability of Avalara AvaTax Advanced Transaction Rules (ATR). ATR allows businesses to create, modify, and apply business and taxability rules that can be used before and after a tax calculation occurs. With ATR, businesses can define and relate tax content decisions with enterprise resource planning (ERP), ecommerce, and other billing systems at the business process and transaction level.
Complex transactions require detailed transaction rules to ensure compliance
Large, enterprise businesses process substantial volumes of transactions, many of which include complex scenarios like bundles, multiproduct orders, or products being sold in numerous tax jurisdictions. As transactions become more complex, businesses often must apply custom taxability rules to specific line items within a transaction to improve accuracy in tax calculations. For example, a business that sells holiday gift baskets may have products that contain taxable and tax-exempt products that must all be calculated in a single transaction. For many enterprise businesses, having the ability to easily assign custom tax rules to transactions is key to tailoring calculations across transactions and reducing the costs and time associated with creating custom tax rules within their systems.
ATR offers three core features that are essential to enterprise sales tax compliance
- Find and replace: ATR allows users to create custom rules to modify tax calculation based on line-level fields within an invoice or other transaction values.
- Allocations and aggregations: Products and services that are taxed differently when sold in a bundle or used in multiple tax jurisdictions can now be allocated in AvaTax itself without users needing to customize their existing systems.
- Reference lists: Tax teams can now upload data from their systems to AvaTax and write data-driven rules to ease the setup of taxability rules.
Improve enterprise business and taxability rules with Avalara
AvaTax Advanced Transaction Rules helps enterprise businesses manage and create consistent rules across business systems. This enables businesses to:
- Customize tax calculations: Tax configuration is placed completely in the hands of the organization’s tax professional. Rules can be developed and maintained to deal with a wide array of tax situations resulting in more accurate tax calculation.
- Minimize business system connector modifications: As business rules change, modifications to the systems and channels being used are minimized or eliminated.
- Accelerate product implementations: Since modifications to the business system connectors are minimal, businesses implementation timeframes are reduced.
- Reduce burden on IT resources: Businesses can reduce the amount of time spent configuring taxability within ERP, ecommerce, and other billing systems by providing transaction rules through AvaTax.
“AvaTax Advanced Transaction Rules provides enterprises with a set of business and taxability rules to deliver a more accurate tax calculation based on their business specific needs,” said Sanjay Parthasarathy, chief product officer at Avalara. “Businesses can improve compliance on complex transactions by using consistent rules to deal with all tax situations across all of their systems, while saving time on customization, development, and product implementation.”
Avalara continues to enhance its enterprise capabilities and create the leading content database for tax. This new offering follows the announcement of the acquisition of Transaction Tax Resources, Inc., which expanded Avalara’s enterprise expertise.
For additional information on AvaTax Advanced Transaction Rules, please click here.
Avalara helps businesses of all sizes get tax compliance right. In partnership with leading ERP, accounting, ecommerce, and other financial management system providers, Avalara delivers cloud-based compliance solutions for various transaction taxes, including sales and use, VAT, GST, excise, communications, lodging, and other indirect tax types. Headquartered in Seattle, Avalara has offices across the U.S. and around the world in Brazil, Europe, and India. More information at avalara.com.