fbpx
 

Sales Tax Accounting

Accurate tracking, reporting, and payment to the Sales Tax authorities.
bt_bb_section_bottom_section_coverage_image
https://www.penycount.com/wp-content/uploads/2020/08/floating_image_04.png

01Accurate Reporting

We offer continuous reports that detail the amount of sales tax you have paid within a specified timeframe.

02Automatic Payments

Through different platforms, we offer the ability to make ongoing automatic payments to required tax authorities

03Compliance

Making sure to keep up to date with your sales taxes is vital to make sure your business stays in compliance

https://www.penycount.com/wp-content/uploads/2020/08/floating_image_05.png

What is Sales Tax Accounting

At Coastal Bookkeeping, our services extend beyond mere recording of sales tax. In addition to accurately inputting sales tax into the accounting software, we also provide ongoing reports and facilitate the setup of automatic payments to the necessary tax agencies. Our comprehensive approach ensures that your sales tax obligations are efficiently managed and streamlined.
bt_bb_section_top_section_coverage_image
bt_bb_section_bottom_section_coverage_image
https://www.penycount.com/wp-content/uploads/2020/08/floating_image_04.png
https://www.penycount.com/wp-content/uploads/2024/01/sales-tax.jpg

Sales Tax Collection

Sales tax accounting involves accurately collecting sales tax from customers on taxable sales transactions.

Tax Rate Determination

Determining the correct sales tax rate applicable to each transaction based on the location and type of product or service is an important aspect of sales tax accounting.

Recording and Tracking

Sales tax accounting includes recording and tracking the sales tax collected separately from the actual revenue generated from sales

Reporting

Sales tax accounting involves preparing and submitting periodic sales tax reports to the appropriate tax authorities, reflecting the sales tax collected during a given period.

https://www.penycount.com/wp-content/uploads/2024/01/compliance.jpg
https://www.penycount.com/wp-content/uploads/2024/01/compliance.jpg

Recording and Tracking

Sales tax accounting includes recording and tracking the sales tax collected separately from the actual revenue generated from sales

Reporting

Sales tax accounting involves preparing and submitting periodic sales tax reports to the appropriate tax authorities, reflecting the sales tax collected during a given period.

https://www.penycount.com/wp-content/uploads/2024/01/pie-and-bar-graph-with-pen.jpg

Payment Management

Sales tax accounting includes managing the payment of sales tax liabilities to the tax agencies within the designated deadlines.

Compliance with Regulations

Sales tax accounting ensures compliance with local, state, and national sales tax regulations, including understanding and adhering to tax thresholds, exemptions, and filing requirements.

Integration with Accounting Systems

Sales tax accounting integrates with the overall accounting system to ensure accurate financial reporting and reconciliation of sales tax transactions.

Book A Call

START NOW WITH A NO-COST CONSULTATION
https://www.penycount.com/wp-content/uploads/2024/01/integration.png
https://www.penycount.com/wp-content/uploads/2024/01/integration.png

Integration with Accounting Systems

Sales tax accounting integrates with the overall accounting system to ensure accurate financial reporting and reconciliation of sales tax transactions.

Book A Call

START NOW WITH A NO-COST CONSULTATION
bt_bb_section_bottom_section_coverage_image