How do I reconcile my sales tax payable account?

To reconcile your sales tax payable account, compare your general ledger balance with reports from your sales tax engine or marketplace. Identify differences, adjust for timing issues, and document variances. Tools like Avex Rec can automate this process and reduce errors.

Why is sales tax reconciliation important?

Reconciling sales tax ensures your business pays the correct amount of tax, avoids penalties, and keeps books accurate. Regular reconciliation also helps catch reporting errors early.

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Sales Tax Payable Account Reconciliation Best Practices

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