Taxware’s 3.4.2 Sales/Use Tax System. Taxware provides a comprehensive solution for automatically calculating and managing sales, use, and consumer taxes for users of PeopleSoft's 8.4 Order Management and Billing system.

As integrated with PeopleSoft Supply Chain Management 8.4, the Sales/Use Tax System includes two key features, VERAZIP and STEP, that enable the system to automatically calculate sales, use, and consumer's use taxes. The Sales/Use Tax System’s Tax Master File covers all US tax jurisdictions and Canadian provinces and is kept current with monthly updates. VERAZIP acts as a pre-edit for address verification matching state, ZIP code, city, and county information to ensure the address is correct and complete so that the correct taxing jurisdiction can be determined. Sales Tax Exemption Processing (STEP) enables error-free handling and reporting of tax-exempt sale and purchase transactions. STEP processes, stores, tracks, and maintains tax exemption certificates, and singles out those certificates that are nearing expiration prior to the date.

Taxware’s says its solution combined with PeopleSoft provides customers with a:

• Cost-effective system that alleviates the need for additional tax or accounting resources;
• Comprehensive solution that eliminates the need for manual tax calculation and the updating of frequently changing tax rates;
• System that provides both a US and Canadian tax solution.

“Calculating accurate sales taxes and tracking the ever-changing tax laws can be time-consuming and expensive tasks,” said Larry Powers, vice president, business development, Taxware. “Taxware products can help to reduce those expenditures, and, when used as part of the PeopleSoft solution, will assist organizations in achieving the necessary competitive edge.”

Taxware's parent, govONE Solutions, offers electronic payment, tax calculation and compliance and IT advisory services to federal, state and local agencies, financial institutions and businesses. GovONE Solutions serves more than two million taxpayers, processing 40 million payments valued at $1 trillion annually.

Earlier this month, taxware announced the release of TaxSolver Enterprise, a transaction tax compliance product that enables businesses to dramatically decrease the time and cost required to produce tax returns, based on its acquisition in August of the TaxSolver assets of ATX, II LLC, a wholly owned subsidiary of United Communications Group Limited Partnership. Taxware said it had completed the integration of TaxSolver to its Sales/Use Tax System in order to provide businesses with an end-to-end solution for sales and use tax calculation, compliance and reporting.

Using TaxSolver enables companies to automatically produce returns in more than 7,500 US sales tax jurisdictions and import data from virtually any source including Taxware audit files; ERP, billing, and payables systems audit files; as well as user-defined text files from spreadsheet products such as Excel. These robust data import and workflow automation and reconciliation tools give companies of any size the flexibility and control needed to reduce tax preparation time.