Eleven will automatically calculate VAT/GST and sales tax, allowing you to easily track, review, and report taxes of any complexity. Handle negative tax or percentages without falling back on Excel.
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You can define tax points: due on invoice or on payment. Eleven will calculate tax rates based on a date, location, type of product, service, or customer. For countries where applicable, taxable amounts in FX will be automatically converted in Base.
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This on-demand report will keep you up-to-date on your taxable and nontaxable sales, all broken down by tax agency. This will include support for tax adjustment entries if needed.
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Once the Tax Report is verified, Eleven can reconcile and generate the tax due Journal entry.
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You can create as many taxes and tax combinations as you need — rates, amounts, groups, withholding tax — and define the basis for the calculations as taxable, on taxable and tax, or on tax.
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Book a personal live demo to see how Eleven can streamline your accounting practice and tasks.
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