If you do business in several tax jurisdictions, or in complex states, it can easily become more than a full-time job just to keep up with the ever changing tax rates and product taxability rules. Not only is compliance difficult to maintain, but even the simplest of mistakes can cost you thousands of dollars if audited.
Although you, or Tridea Partners as a Dynamics partner, can configure Dynamics GP or Dynamics AX to handle complex tax tables, we recommend using one of the third party solutions that handles the tax updates automatically.
One of the leading solutions is by Avalara (www.avalara.com), the creator of AvaTax – a cloud-based system – to help address your unique sales tax challenges. With complete integration to Microsoft Dynamics GP and Dynamics AX, AvaTax removes the difficulty of managing sales tax compliance by helping to eliminate the tedious work and complexity that goes into calculating, reporting, filing and remitting taxes.
Sales tax automation software can help:
• Achieve full end-to-end sales tax compliance
• Automate manual processes involved with managing tax tables and updates
• Eliminate compliance holes associated with using a flat state rate or zip code-based systems
• Reduce your audit exposure through ‘bullet-proof’ compliance
• Outsource all of your sales tax filing requirements
• Automate the paperless collection and management of certificates
Managing sales tax can be complex and time consuming. Depending on your unique requirements, a sales tax software application may dramatically simplify things for your organization.
Microsoft Dynamics AX is positioned in the Leaders quadrant of the latest Gartner Magic Quadrant (Magic Quadrant for ERP for Product-Centric Midmarket Companies, December 2010). Microsoft Dynamics AX’s ability to execute is proven by a long track record and above-average growth rates in the midmarket, its intuitive user interface, and by its functionality. The new Gartner Quadrant is scheduled to be released later in 2012.
Gartner’s report highlights Microsoft Dynamics AX as specifically being targeted at midmarket and upper midmarket organizations. It offers broad and robust functionality in distribution, manufacturing, professional services, retail and public sector, and delivers low TCO through bi-directional integration with other Microsoft products and technologies. Microsoft Dynamics AX can serve multinational companies in the core and the upper midmarket with out of the box functionality. Microsoft Dynamics AX allows support of multiple sites or business units in one single instance, including those that operate in different countries and need country-specific localizations and currencies.
Magic Quadrant for ERP for Product-Centric Midmarket Companies
Financial Dimensions in AX 2009 and AX 2012 provide a means to create additional segments to the main or natural general ledger account in order to track revenues, costs or expenses by a specific attribute, without having to have the segment be imbedded in the natural account itself. Additionally, these dimensions can also be linked to vendors and customers in order to facilitate the dimension tracking for a multitude of transactions.
Standard functionality in AX 2009 offers the three predefined dimensions of Department, Cost Center and Purpose. A big upgrade in AX 2012 is the ability for users to create an unlimited number of Financial Dimensions and link them in any combination to vendors, customers and the chart of accounts, creating one or more Financial Dimension sets or structures. These dimension sets can then be used to establish reporting structures, as well as in the validation of data entered for transactions, minimizing errors. Financial Dimensions offer the flexibility to continue to customize your chart of accounts and data analysis based on your business’ growth and needs.
Please Join Microsoft and Tridea Partners for the San Diego Microsoft Dynamics AX 2012 Launch event on October 11th, 2011 at 8:30am. Come see some of over 1,000 new features and enhancements included in this latest release of Microsoft’s leading ERP application. Microsoft Dynamics AX 2012 is a single, powerful enterprise resource planning (ERP) solution that is simple to learn and use so you can deliver value faster, take advantage of business opportunities, and drive user involvement across the organization.
Come to this Launch event to see:
Powerfully simple product demonstrations:
- Workflow: Create custom workflows that support your business processes
- Analytics and Reporting: Use Report Builder to create meaningful, graphical reports with quick drill-down to transactional data
- Role-Tailored menus and actions through client or browser
- Microsoft Office Integration: Instant, real-time data access in Excel
Review the new simplified pricing model, extending the application to all users
Learn about the latest, most innovative ERP application in the market