Regulatory compliance, no matter how nit-picky and annoying it may be, is a fact of life for all accounts payable organizations. And doing it incorrectly is not an option. It can result in increased scrutiny by regulatory authorities, fines, penalties and ultimately more work in accounts payable as you sort out the mess created by the non or incomplete compliance.
The most common tasks, falling onto almost all organizations are the proper collection and verification of taxpayer identification numbers (TINs), the management of the sales and use tax information and payments and reporting and remitting unclaimed property. At least with the last one, if you take the proper steps (which we will discuss in our webinar) you will be able to reduce that workload.
After this session, you will be able to:
•Understand why you should be collecting TINs
•Identify best regulatory practices to be used when TINs
•Weed out practices related to sales tax and unclaimed property that will get you in trouble with state auditors
•Pinpoint commonly over-looked areas where sales tax should be accrued
•Create practices that will allow you to minimize the amount of unclaimed property to be reported and remitted
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