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Vertex Indirect Tax O Series - North America for Leasing

This three-day course provides instruction for using Vertex O Series to calculate sales tax and transaction taxes related to leasing and rental operations in North America.

Status

Open

Level

Beginner

CPE Credits

6

Requirements

You must be an employee of/or consultant to, a currently licensed  Vertex customer or Vertex partner and have:

  • Working knowledge of Sales and Use tax concepts 
  • Working knowledge of your company's (or the Vertex-licensed client company's) tax reporting requirements
  • PC experience and navigational familiarity with various MS Windows Operating Systems  (XP, 7 and/or Windows Server)
  • Experience using an Internet Browser (i.e., preferably IE or Chrome)

Course Description

This three-day course provides instruction for using Vertex O Series to calculate sales tax and transaction taxes related to leasing and rental operations in North America. The instructor-led classroom training includes group discussion and hands-on exercises. It explores Vertex Central menus, tools, and utilities as well as how Vertex O Series works with your financial system. The course uses a case-study approach to research, set up, and test a variety of leasing scenarios. Upon completion of this course you will be familiar with how to set up Vertex O Series to calculate sales tax and transaction taxes related to leasing and rental operations to meet your business requirements.

In general, this course introduces the tax professional and system implementer to the features and functionality in Vertex O Series, thus being able to use and support the product in their daily tasks.

Agenda includes:

  • Vertex O Series components and resources
  • Transaction processing with supplies financial events
  • Taxability management planning documents 
  • Vertex Central user interface 
  • My Enterprise, Tax Setup, Tools, Reporting, and System menus
  • Tax Area ID Lookup, Rate Lookup, and Transaction Tester tools 
  • Taxpayer organizational structure and registrations 
  • Customers, Taxability Drivers, Commodity Codes, and Certificates (non-ECM) 
  • Taxability Categories, Taxability Analysis, and Taxability Mapping 
  • Vertex-defined and user-defined Tax Rules 
  • Flexible Fields, Tax Assist Rules, and Lookup Tables 
  • Data Management tasks 
  • Standard reports and Data Extract reports (templates) 
  • Security Roles, Users, and Partitions 
  • System Preferences, Activity logs, Log files, and About file 
  • Accessing Vertex Central Help 
  • Leasing tools and resources 
  • Leasing case studies

What You’ll Learn

Upon completion of this course, you will be able to:

  • List and explain Vertex O Series components
  • Navigate the Vertex Central user interface
  • Optimize Vertex O Series tax data configuration by realizing the value of taxability management planning documents 
  • Look up Tax Area IDs and standard rates
  •  Conduct transaction tests to verify and troubleshoot tax data setup
  • Define your organizational structure and registration requirements 
  • Create customers, taxability drivers, and exemption certificates (non-ECM) 
  • Define and maintain your company's taxability exceptions for customers, taxability drivers, and jurisdictions in the supplies business event
  • Explain and execute various data management jobs 
  • Generate and interpret standard reports and data extract reports (templates) 
  • Set up and maintain system security roles, accesses, and login information
  • Discuss and execute user interface administration activities
  • Leverage taxability categories that support standard and nonstandard rules and rates for the leasing industry 
  • Set up tax payment type option functionality in Vertex Leasing
  • Set up flexible fields used for Vertex Leasing
  • Create tax assist rules and lookup tables 
  • $908USD