We are thrilled to announce today that our Xero application, the first business application to automate sales tax compliance and accounting for Xero users in all 12,000 US sales tax jurisdictions, is now available in Xero’s Add-On Marketplace. The new application brings enterprise-level sales tax return filing automation and tax payment reconciliation to accounting professionals and multi-channel businesses using Xero’s online accounting software.
“Small businesses are dealing with increasingly complex and dangerous tax situations, and the solutions that are available just don’t give them the accuracy or coverage they need to stay ahead. We’ve been working closely with Xero to change all that,” said Eric Olson, our VP. “This new add-on finally puts small businesses on an even playing field with big business, giving accountants the tools they need to both comply easily no matter where they do business and accurately track and reconcile tax payments in a modern, multi-channel world.”
We collaborated with Xero on the new application, deepening our partnership to help accounting professionals and eCommerce businesses to better manage their business in the cloud. The application is specifically tailored for small businesses, bringing three new capabilities that haven’t been available until now:
- Automated filing in every US sales tax jurisdiction, including counties, cities and special districts.
- Full reconciliation of tax payments and tracking of sales tax liabilities.
- Support for multi-channel sales models, allowing businesses to easily control the flow of transactions from a variety of third-party applications within Xero.
Our Xero application allows transactions to automatically flow from Xero’s software platform into Taxify. Any transactions in Xero will automatically appear in Taxify, though users can select and omit specific transaction sources to avoid duplicate transactions.
“The Taxify add-on is a total game changer for Xero users,” said Scott Scharf, co-founder of Catching Clouds, an eCommerce Accounting services company. “Taxify takes on this dirty job of sales tax management so we can focus on growing our eCommerce accounting business. We couldn’t scale our business or deliver as much value to our eCommerce customers without Taxify as a partner.”
Our software automatically populates hundreds of unique tax schedules on state and local sales and use tax returns, automatically files those returns in the appropriate jurisdictions and remits payments directly from the users’ bank accounts to the appropriate taxing authorities. After remittance, payment details are posted to Xero to offer easy reconciliation with bank transactions. In addition, the payment approach allows users to easily take advantage of vendors’ discounts and early filing credits, a capability that has been largely unavailable on tax compliance software solutions. Our Xero application is a simple, one-click setup, which takes just minutes to implement, and gives accounting professionals and small businesses the ability to focus on their businesses, instead of sales tax compliance.
Our software is built to help businesses grow without fear of compliance-related issues by automating sales tax compliance from end-to-end. The Taxify tax calculation engine provides accurate tax rates for more than 12,000 jurisdictions to shopping carts and integrates with eCommerce platforms, marketplaces, and accounting systems to automate filing in every state and local jurisdiction.
For more information on our Xero Add-On, check out our features page.