Establish a variance so that you can quickly identify inconsistent and unexpected data within your Compliance reports after each bill cycle.
Before you begin
Review and reconcile the previous bill cycle.
- Establish an expected growth rate. For example:
- 5% growth based the previous month's totals
- -2% growth to account for seasonal fluctuations
- Run a compliance report and review the total liability for each jurisdiction and tax type.
- Compare the totals for the current bill cycle to previous bill cycles to identify variances using the Explorer Compliance Report.
- Use the variance as a starting point for reconciliation. The variance could be impacted by a number of scenarios:
- Unexpected changes in your business.
- Updated tax rates.
- New account customizations applied to your account.
- Review the variance prior to each reconciliation and adjust as needed.