After the sales tax audit, you must get ready for the next audit, especially if any errors were discovered. We discuss this more in our Audit Series Video #9.
If your vendor issues a sales tax reimbursement request on a sale and you have the money, pay it and record that you did. Learn more in our Audit Series Video #8.
After an audit, you can recoup sales or use tax collected by the tax authority if you did not charge your client tax. Learn more in our Audit Series Video #7.
You must understand the entries in the sales tax payable account. Learn about the account and how the account should clear out in this short video, #4 in our Audit Series.
Your internal controls dictate, to a large degree, your audit experience. Learn more in our 3rd video from the audit series.
Episode 2 in our Audit series carries a very important message. If you want a faster audit, provide requested records that are easy to understand. Learn more…
In the first video from our Audit series, we talk about audit document requests. It's a mistake to do an information dump when your auditor shows up...Head to the video to understand what we are talking about.