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Half a dozen ways to mismanage sales tax | TaxConnex

TaxConnex

States frequently introduce new sales tax returns, such as Colorado and Minnesota for their new retail delivery fees. General ledger management Your GL is a key reconciliation point to make sure you’re capturing all sales tax that you’re remitting and that you get the credits and adjustments you have coming, such as vendors’ discounts.

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The new breed of audit

TaxConnex

The Minnesota Department of Revenue, for example, bids all a hearty welcome to its Audit Room and Virtual Room , billed as “a secure space online to exchange files and other information with Revenue.” And of course, save paper.

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Accountants Behaving Badly: Police Department Accountant Couldn’t Be Bothered, PPP Loan Fraud, and a Creepy Tax Preparer

Going Concern

In that capacity, Urban was responsible for maintaining the company’s general ledger, preparing financial statements, and reconciling the company’s accounts payable and receivable and bank statements. I sincerely apologize to both women for my behavior. It was inappropriate.”