Odoo integration with Vertex Tax

One of vertex partner which is also a consulting firm, has a client who wanted to utilize the functionalities of Odoo and Vertex . So they approached us for the solution as Silent Infotech is the official partner and has years of experience in various third-party software solutions, gateways, as well as APIs integration.

And as a solution, we have developed a two-way synced integrated Odoo module which connects the Vertex tax cloud with the Odoo open ERP framework. However, this module can be used anywhere when there is a challenge to maintain the numerous tax customizations and condition records, irrespective of the industry vertical.

Overview of Vertex Tax

 Vertex is a powerful SaaS solution designed to manage the end-to-end tax lifecycle. This includes tax calculation, return filings, exemption certificate management, and reporting – all within a single solution with an easy-to-use interface.

We can leverage the maximum out of Vertex if we connect it with ERP like Odoo and others to determine taxability and deliver accurate tax calculation on every sales and purchase transaction. 

The system maintains a continually updated database of tax rules and rates for sales and use tax and value-added tax for countries around the world, as well as industry-specific tax content for multi-channel retail taxation. The system also generates signature-ready sales and use tax returns and provides tools to collect, track, and store exemption certificates. 

Vertex delivers robust tax performance with a quick implementation process and minimal IT infrastructure and support needs. It offers flexible options to meet various tax calculation, compliance, and support needs, making it suitable for businesses aiming to streamline their tax operations.

Odoo-Vertex integration

We integrated Odoo open-source ERP with Vertex to deliver a powerful tax technology solution that ensures more accurate and automated tax compliance across the global markets.

To begin with, you first need to create an account on the Vertex website (https://www.vertexinc.com/). Once registered, you will receive API credentials, which you will have to set in the Odoo connector module. 

Benefits of Odoo-Vertex Integration

1. Automated Calculations and Returns: With confidence that all sales tax, VATs, and GSTs are calculated accurately in real time and from your Odoo workflows. All return information will automatically be retained, so your compensated and jurisdictional return will be prepared in audit-ready format.

2. Less Complex Taxes: You can trust all the most recent tax rules & jurisdictions from Vertex, so you rely less on manual error adjustments to simplify compliance complexity, even in your multi-state or grab operations. This will make a huge impact!

3. Value Added Reporting: You will have a better view of your tax liabilities with various reporting options to help enhance your decision-making ability and your overall vision of your tax landscape. 

4. Exemption Certificate Management: We streamline & manage your exempt customers, or we improve your check & process for tax exempt validation to be able to escalate the release to sales with less compliance risk.

5. Many Deployment Options: You can choose Cloud, On-Demand, or On-Premise that fit your organization and IT strategy.

6. Scalability & Accuracy: With the ever-increasing speed of transaction processing by the organizations, you will be able to measure compliance regulations (continue tax jurisdictions based on expansion of your business or internationally) accurately and consistently.

Industry-wise benefits

Financials & Supply Management

This module can be coupled with modern financial functionality to track supplies and streamline order processes
And it’s integration with Odoo Financials & Supply Management reduces the time, risk, and effort associated with manual sales tax processes for your business.

Wholesaling and trading

Odoo is quite capable of handling complex processes of enterprise wholesalers, traders, and retailers. Integration of Vertex with Odoo provides a more accurate and automated way of handling sales tax that ensures compliance.

Complex manufacturing and ETO/ MTO workflows

We can specifically customize Odoo ERP to fulfill complex product manufacturing, ETO, and MTO processes. And one can stay very compliant with tax integration, built for sales and use tax calculation, automation, and returns.

Healthcare & Pharmaceuticals

 To handle exemptions and ambiguous tax rules on medical devices and prescription and/or non-prescription purchases.

eCommerce

One can develop an Odoo eCommerce website and ERP solution and integrate to ensure accurate sales tax calculations and returns to keep online merchants compliant as they grow their business.

Real Estate & Construction

 To handle labor vs. material tax rates, construction contracts, as well as tax obligations at a regional level.

Service Management

Odoo also offers advanced service-focused functionality and company-wide access to data to empower field technicians. We can integrate it with Odoo to keep businesses compliant with sales tax as they grow and scale.

Automotive & Auto Parts

 To support tax compliance for vehicle sales and services and interstate part distribution.

A problem shared is a problem halved, and hence this module is quite important as well as necessary when the company is using Odoo ERP and working across multiple jurisdictions, product groups, and frequent changes in legislation, there is a challenge to maintain the numerous tax customizations and condition records.

If you have any queries or want a free consultation, please contact us.