Multi Database Tax Consolidation
Abel’s multi database tax consolidation enables you to combine tax data from multiple branch databases into one tax journal for each tax code. This is especially useful for installations with multiple indirect taxes such as the U.S.A. and Canada. You can also create multiple tax journals for the different financial entities within your organization.
Abel’s Inter-Database Tax functionality helps multi-location organizations better manage their indirect tax (GST, VAT, Sales Tax) reporting and tax journal requirements. This functionality:
- Exports summarized tax data from branch databases to a Corporate Office database.
- Enables Corporate Office users to combine tax data from multiple branch databases into one Tax Journal.
- Enables Corporate Office users to create multiple tax journals for different financial entities using data from their databases.
Abel’s Inter-Database Tax features combine with Abel’s External Financial Ledgers to bring the data to where it is needed for tax journals and tax reporting.
All Abel Tax Journals can be configured to automatically include the External tax data. This means Corporate Office users can create Tax Journals that combine data from Branch databases into one tax return per tax code, per tax authority. Corporate Office users can create Tax Journals for each tax entity.
When you create a Tax Journal, you specify the Tax Code of the tax authority. This enables you to create a separate tax journal for each Tax Code that is used. Abel’s Tax functionality helps you manage tax reporting for different countries, or within countries that have multiple tax codes and multiple tax jurisdictions such as the U.S.A. and Canada.
Abel also detects prior period changes that require adjustments and populates the adjustment data on the tax journals.
What our customers say:
Director - NZ Drinks
"For NZ Drinks, automation was a great decision, and Abel’s robustness and flexibility provides us with a great foundation for growth,” Kyle says. “If we wanted to quadruple our business tomorrow, we wouldn’t have to change anything."
General Manager - Disc Brakes Australia
"Once you configure Abel to suit your business processes, it just delivers. You get a system that can handle a very high level of complexity which would cost a lot more if you went anywhere else. I hate to think where we might have been today without Abel."
Director of Information Technology - Alsco
"Abel spent time getting to know how our business works and how to make us better. Our accountants are all amazingly surprised how much the new system has simplified their lives. We’ve already reduced the time for closing our monthly reports from nine or ten business days to four."
CEO - Dairy Products NZ
"Abel was the most engaged company we met. Their attitude is very can-do. A whole team of Abel experts came out to understand our specialist equipment and ensure we got the best out of our system, and we have."
Managing Director - Nautech Electronics
"Abel gives us a forecasting advantage. It knows our future production and material requirements and it can predict our stock requirements and stock shortages, ensuring we can respond more quickly to customer orders"
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