Exactor Review

Exactor provides a module that enables users to accurately determine the exact location or the physical address of a transaction. This module is called Exactor Address Verification Service (AVS) Module. This module is very helpful because it allows users to apply the correct sales taxes for their transactions. Because transaction locations have different sales tax rates, identifying the correct address where the transaction is made enhances accuracy in sales tax calculation.

The Exactor AVS Module verifies the address input by a customer and standardizes it in accordance with US postal address verification standards. Thus, if there is an incorrect information in the address, the module will scrub that information and enter the correct one to produce an address recognized by US Postal Service. In case there is a missing address data such as a zip code, the module adds the zip code that matches the address.

Another module offered by Exactor is its Sales Tax Calculation Module. Likewise, this module has the capability to identify the correct transaction location as it calculates sales taxes. Aside from identifying the exact location of the transaction, the module also checks the taxability and sales tax rules for each line item or product sold. Thus, it determines if an item or product is taxed, exempted from taxes, or has a reduced sales tax rate. Because of this, users will be able to apply the correct tax rate for each of their line items.

Meanwhile, Exactor offers a module referred to as Exactor Sales Tax Exemption Module which allows buyers to upload sales tax exemption certificate. Once the certificate is uploaded, users can cross-reference it to multiple transactions. Therefore, buyers no longer need to upload multiple sales tax exemption certificates, as they can use the single certificate they uploaded for their other transactions.

Exactor also enables users to calculate in real time VAT taxes. Through the aid of its Exactor VAT Compliance Module, users will be able to calculate VAT taxes, applying global value-added tax rules. As an example, there are some economic zones where VAT taxes are calculated based on the location of the seller or the place of delivery, while in some economic zones VAT tax calculation is based only on the place of delivery. With this module, users can calculate VAT taxes using any of these VAT rules.

In addition, Exactor helps users track changes made to their transactions so they can prepare sales tax returns accurately and perform sales tax audits quickly. The tax compliance solution also automates their filing of sales tax returns. It automatically imports sales data to sales tax returns. To prevent the late filing of returns, Exactor automatically files returns on their respective due dates.