Exactor is revolutionizing sales tax compliance by providing the next-generation, end-to-end solution for secure, reliable and accurate sales tax record keeping and tax processing. Exactor's service introduces to sales tax compliance the same high standards and ease of use typically associated with payroll taxes. This allows the merchant to focus on SALES, while Exactor deals with the TAX.

Features

The Exactor Suite is a fully automated, comprehensive, end-to-end compliance system for sales and use taxes owing in all commercial environments. The ASP-based services provided by the Exactor Suite cover all elements of compliance: tax determination; full transaction life cycle tracking (including any changes made to a transaction, such as credits, product returns, or exemptions); providing a comprehensive, verifiable, transactional audit trail; managing exemption certificates; preparing and filing the tax returns; and transferring tax proceeds to the different tax agencies.

By tracking a transaction throughout its entire life cycle, the Exactor Suite can also be used by merchants as a comprehensive tool for sales and use audit purposes, as well as for Sarbanes Oxley compliance. Exactor's reliable, fully automated, audit trail creates a seamless, single, source for these obligations.

The Exactor Suite services are not limited to any single merchant size; all retailers-- large, mid-size or small-- can significantly reduce the burden and costs of sales and use tax compliance by using the Exactor Suite.

Some of the more notable features of the Exactor Suite include the following:

• Seamless, wizard-driven integration, requiring no software downloads or installation, and no technical resources committed to integration. Retailers don't have to buy, learn, integrate or maintain new software packages. No need to use IT teams to work on custom installation.
• Full integration into ERP and financial systems. Transactions are reconciled to the general ledger, and not left hanging. This reduces costs associated with processing, and reduces liability typically associated with human induced error. System tracks transactional data, by line item; including product (SKU); quantity; exemptions (if applicable); and exceptions (discounts, credits; product returns; charge-backs).
• Tax determined by applying the highly accurate address and zip+4 methodologies, and all relevant local rules, tax rates and product taxability matrixes.
• Complete tracking of transaction life cycle, starting with transaction initiation; authorization; fulfillment; capture; credits; returns; exemptions; and any other change made - when and by whom.
• Transactional audit trail provides comprehensive audit solution, including Sarbanes-Oxley ("SOX") and other compliance audits.
• Automaton of labor-intensive manual processes.
• Modular system architecture allows quick adaptation and modification to accommodate new and changing requirements - regulatory and internal. Fully redundant, highly secure, highly scalable system provide for a 7x24x365 up-time system, operating in a safe and secure commercial environment. System evaluated applying standards in compliance with NIST and ISO 17799.

Service Modules

ExactorCalc

Accurately determining the taxability of a sale is a very complex process, stemming from the many issues that affect the tax determination. These issues range from establishing the location of the transaction; the products and services being sold; and the parties involved in the transaction. All of this information is required to determine which of the more than 7,000 taxing authorities will govern the transaction, which rules will apply to the transaction, whether the given products are taxable and at what rate, and whether the consumer might possess an exemption that will render the entire transaction as tax exempt. This is no small task but the ExactorCalc module can do it all, with ease and efficiency and in real-time, too!

The life of a transaction does not begin and end with the placement of an order. Once a consumer makes a purchase, the transaction has just begun. Discrepancies and errors can result in costly out-of-pocket charges to the merchant. Exactor's finely-tuned tracking system, ExactorTrack, will identify any and all changes made to a transaction, the timing of such change by whom such change was made and the reason for the change. All this information is then coupled with the original transaction, ensuring the merchant of preparing an accurate and reliable sales tax return - and, as importantly, avoiding expensive and unnecessary expenses. 

Managing exemptions is often the most difficult part of the sales tax process. While not a complicated task, exemption management can be extremely time-consuming. The last thing that any sales person wants to do is stop a transaction in mid stride to obtain an exemption certificate. The ExactorExempt module is designed to automate the process of creating, tracking & managing exemption certificates, without impeding the flow of the transaction. The module enables uploading of exemption information in real time, either before or after transaction initiation, and provides for cross-referencing of an exemption certificate to multiple transactions. The purchaser is no longer required to produce multiple certificates, but instead can upload one certificate and use it across multiple transactions and with all Exactor-enabled vendors. ExactorExempt can also be fully integrated into an online shopping cart, so that data can be uploaded in real time, as the transaction is being processed.

Filing sales tax returns is a formidable task. It is not the technical, mechanical or physical aspects of filing, but rather the psychological aspect - knowing which returns need to be filed, to which states, and by when. In addition, the filing requirements differ from one filing period to the next. There is nothing consistent about the process. Limited resources and fragmented responsibilities often leave no one individual truly accountable. Why struggle with this process? ExactorFile automatically imports sales data into the appropriate sales tax returns and files these returns electronically when due. The sales tax returns are stored and maintained on the Exactor servers for easy retrieval. Merchants can rest easy knowing that their sales tax obligations are being handled in a timely fashion by a single point of contact -- ExactorFile. 

Product Advantage

• Single solution to address all compliance needs.
• Minimal cost of integration & implementation. – merchants do not have to buy, learn, integrate or maintain new and multiple software packages.
• Automation of manual processes.
• Reducing potential tax exposure.
• Compliance tool (SOX compliance).
• Platform for development to other products.
• System evaluated applying standards in compliance with NIST and ISO 17799.
• Real time, fully automated reporting & filing system.

When you're ready to set up an Exactor account, call your Adhost account manager at 1-888-234-6781 or email exactor@adhost.com.