Billing Control - Tax Reports

How do I get here? Financial Menu ► Billing Control Panel ► Tax Reports
Purpose

Once the bill run is finished and charge transactions have been posted into the system, one of the last steps of billing for the month is to generate and send off tax reports for compliance.

This tab will allow all of the required tax reports to be generated. These are typically generated only after the very last bill run of the month. So if you have multiple cycles that run on various days of the month, this step would only need to happen once per month, after all cycles are complete.

Reports from this tab should be ran, reviewed, exported and then supplied to your tax compliance company. When sending these to the tax compliance company, it is recommended that you include you Precision Account Manager in case there are any questions from compliance.

Security Billing Module
Taxing Impact N/A
Commission Impact N/A
Data Field Definitions N/A

The Tax Reports tab is a reporting tool used to generate the Tax and Compliance Reports required for various Federal, State, County and Local agencies.

These compliance reports are divided into the following sections:

Bill History Tax Reports - These reports are generated based on the Taxes charged during Billing. Unless otherwise requested by your Compliance company, the Combined Taxes report is all that will be needed from this section.

Step 1: Select the appropriate Parameters:

All tax reports can be ran by Base depending on the client's requirements. If this is desired, the report would need to be ran / exported with the appropriate parameters selected for the specific base. If no separation is needed, then no items need checked within the Base checkbox list as it will include everything.

The From Date / To Date should be for the entire month.

Step 2: Run and Export the Report:

Once all the parameters are correct, click the Run Report button to view all the data. Once the data is verified to be correct, use the Export Results button, and select All Records --> CSV option to export all the data in the results to a csv file format. Save the file locally.

TBS Tax Reports - These reports are generated based on account Credits and/or Debits made in the TBS System. Unless otherwise requested by your Compliance company, the Combined Taxes reports are all that will be needed from this section.

Step 1: Check the Combined Tax Credits and the Combined Tax Debits checkboxes and click the Load Parameters button.

Step 2: Select the appropriate Parameters:

All tax reports can be ran by Base depending on the client's requirements. If this is desired, the report would need to be ran / exported with the appropriate parameters selected for the specific base. If no separation is needed, then no items need checked within the Base checkbox list as it will include everything.

The Reported Value (YYYYMMDD) should be for the last bill cycle of the month.

Step 3: Run and Export the Report:

Once all the parameters are correct, click the Run Report button to view all the data. Once the data is verified to be correct, use the Export All Reports button or the Export Results button, and select All Records --> CSV option to export all the data in the results to a csv file format. Save the file locally.

Bill History Line Count Reports - These reports are generated based on Billing Data and break out Product Line Counts for compliance reporting purposes.

Step 1: Check the Line Count Report checkbox and click the Load Parameters button.

Step 2: Select the appropriate Parameters:

All tax reports can be ran by Base depending on the client's requirements. If this is desired, the report would need to be ran / exported with the appropriate parameters selected for the specific base. If no separation is needed, then no items need checked within the Base checkbox list as it will include everything.

The From Date / To Date should be for the entire month.

Step 3: Run and Export the Report:

Once all the parameters are correct, click the Run Report button to view all the data. Once the data is verified to be correct, use the Export All Reports button or the Export Results button, and select All Records --> CSV option to export all the data in the results to a csv file format. Save the file locally.

Revenue by State Reports - These reports are generated based on Billing Data and break out revenue buckets by state for compliance reporting purposes.

Step 1: Check the Revenue by State - Retail and Revenue by State - Wholesale (if applicable) checkboxes and click the Load Parameters button.

Step 2: Select the appropriate Parameters:

All tax reports can be ran by Base depending on the client's requirements. If this is desired, the report would need to be ran / exported with the appropriate parameters selected for the specific base. If no separation is needed, then no items need checked within the Base checkbox list as it will include everything.

The From Date / To Date should be for the entire month.

Step 3: Run and Export the Report:

Once all the parameters are correct, click the Run Report button to view all the data. Once the data is verified to be correct, use the Export All Reports button or the Export Results button, and select All Records --> CSV option to export all the data in the results to a csv file format. Save the file locally.

 

Finalizing and Sending Reports to Compliance

Once all the reports have been ran, verified, exported and saved locally, it is the Client's responsibility to send these to the appropriate Compliance company point of contact. It is recommended that these be sent once per month after all bill cycles have been completed. It is also recommended that you CC: your Precision Account Manager on the email to your Compliance company so they can help with any questions that might arise.