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Vertex® Sales Tax Q Series™
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Solution Summary |
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As the Oracle certified solution, Vertex Q Series for Sales and Use Tax, provides E-Business Suite customers a fully integrated solution which is pre-packaged and distributed with Oracle Financials. This product is used to automate sales and use tax compliance and reduce audit exposure. |
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Solution Profile |
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The Vertex Q Series for Sales and Use Tax software completely automates sales and usetax compliance and reduces audit exposure. The software has been designed specifically for Oracle's internet architecture. The system automatically calculates and compiles sales and use tax amounts. The data portion of the system contains current rates for every jurisdiction in the United States and Canada, which are updated monthly by the Vertex research department. The calculation software analyzes each transaction to determine whether the information is interstate or intrastate, and which taxing jurisdictions are involved. Moreover, Vertex's unique Tax Decision Maker enables user to customize the system, including the ability to flag special override rates, exemptions, and maximums at locally administered taxes. Accuracy is the hallmark of Quantum for Sales and Use Tax. Quantum for Sales and Use Tax blends the most accurate and timely state and local tax research in the industry the the advanced open systems and Windows technology to take you to a whole new level of tax compliance confidence. Quantum's architecture includes components designed to: - Supply accurate and timely tax rate and regulatory data - Determine accurate taxability - Calculate all applicable tax amounts - Allow you to customize Quantum to automate handling of your company's special tax requirements - Prapare and print signature-ready state and local tax returns - Report valuable management information - Maintain a clear, detailed audit trail. |
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Distinguishing Features |
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 Q Series Data - Accurate sales and use tax compliance begins with accurate data. Q Series for Sales and Use Tax contains current sales and use tax rates for every taxing jurisdiction in the U.S. and Canada -- more than 7,000 locations -- plus placeholders for more than 60,000 potential taxing jurisdictions. In addition, Vertex's industry leading tax research department helps keep you in compliance through monthly database updates delivered on your choice of media. Q Series Calculation - Q Series automatically analyzes each transaction to determine -- - Whether it is intrastate or interstate - Which taxing jurisdictions are involved - City/county partial/full override rates - The taxability of each line item, using exception information specific to your company - And applicable maximum tax base and excess amounts. Q Series then retrieves the applicable tax rates ... calculates the tax amounts ... and returns these amounts to your financial application for invoicing. Taxable, nontaxable, and exempt amounts are calculated separately at the state, county, city, and district levels - greatly simplifying both reporting and returns preparation. Q Series GeoCoder - Q Series GeoCoder provides the most accurate way of determining local tax jurisdictions, rates and calculation requirements because it is organized the way tax jurisdictions are organized: with state, county and city designations. Consequently, GeoCodes eliminate problems encountered by ZIP code-based systems due to frequently changing ZIP codes, and ZIP and county boundaries that don't match. Q Series Tax Decision Maker - Q Series Tax Decision Maker provides a way for you to directly link tax status to your own product codes, general ledger account numbers, customer class, or customer codes. In addition, you can track exemptions or flag virtually any other kind of exception that requires special calculation. |
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Solution Details |
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| Solution Type: | Software |
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| Solution Availability: | |
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| Company Size Solution is Targeting?: | < 50 |
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| Open Source Solution: | No |
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The partners listed in the Oracle PartnerNetwork (OPN) Solutions Catalog are part of the Oracle PartnerNetwork Program, however Oracle does not endorse any of the partners or their software, solutions, services or training listed on this site. Oracle disclaims any and all liability arising out of your use of the partners, software, solutions, services and training listed on the site. All software, solutions, services and training are provided “as is” and without warranty, unless provided by the authoring partner.
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