Communications taxation company BillSoft Inc. on Thursday announced it has released EZTax Bundler to provide customers with accurate taxation when bundling multiple products and services together.
According to the company, EZTax Bundler helps users create a bundle definition file, which contains a number of user-defined bundles that map a bundled product offering to a number of EZTax transaction and service combinations. Once the bundles are defined, customers pass one transaction and a single dollar amount into EZTax, and the transaction is broken down into the specified percentages.
A growing trend is to offer a number of services bundled as one package, said Vicki Klein, president of BillSoft. Heavy burden is put on billing managers to break down each charge in a bundle and pass a pro-rated dollar amount for each individual component. Aggressive taxing jurisdictions are complicating matters even further. If bundled services are not taxed and presented properly, the jurisdiction may assess fines and penalties. Some jurisdictions are specifically targeting providers that dont tax bundled products accurately. EZTax Bundler provides a simple way in the billing and taxation system to break out these products and tax them appropriately.
BillSoft Inc. www.billsoft.com
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June 12 2019 @ 21:58:18 UTC