Flexible Tax Configuration
Intune HR provides support for sales, use, withholding, VAT, and reverse VAT taxes. You can specify multiple rates with different start and end dates, minimum and maximum tax amounts, and tax calculation on each line item or the entire document amount.
Integration with financial modules
Tax Management is integrated with all financial modules that require tax calculation. Calculate taxes is performed automatically based on the tax zone assigned to the customer, employee, or vendor record, and the tax category assigned to inventory items. Make manual tax adjustments. Calculated tax is posted to a general ledger tax liability account and to designated accounts in the Tax Management module for future reporting.
Automatic Offset with Accounts Payable
IntuneHR allows you to represent tax agencies as vendor accounts. You can specify the frequency of tax reporting and generate tax reports. We will automatically generate a bill in accounts payable that will offset tax liability for the reported period with the appropriate ledger postings.
Direct Tax Adjustments
Review tax reports and enter corrections to the tax and taxable amounts directly in your tax accounting software. Corrections update the specified tax liability account in General Ledger as well as the statistical tax information.
Tax Management provides a complete audit trail of all tax-related transactions. The system maintains the details of all tax-related documents, including the originating module, reference numbers, and date of the record. Adjustment can only be done through auditable transactions.
Flexible Tax Reporting
Configure the tax reporting requirements for each tax authority. Generate summary reports or retrieve tax details for each tax zone. With these options you can prepare the statistical information required by tax authorities for filing tax reports.
Tax Transactions Drill down
IntuneHR maintains a complete record of each tax transaction, including the originating module and transaction that was posted from, the taxable amount, the reference number, and the document type of the transaction. Reconcile calculated tax with general ledger postings and drill down to the original transactions.