Point of Rental Software adds tax calculation to offer
By Belinda Smart16 March 2021
Point of Rental Software has added tax calculation to its offering following a new partnership with Vertex, a provider tax software and technology.
The partnership means Point of Rental’s Elite dashboard now works with Vertex Cloud Indirect Tax, a SaaS (software as a service) product that automates the end-to-end indirect tax process.
According to Point of Rental, the inclusion of Vertex Cloud into the Elite dashboard will make rental businesses’ tax, accounting and finance functions easier and more streamlined, particularly when operating in markets with different tax codes.
The system applies up-to-date taxability rates and rules to transactions in real time and produces signature-ready returns.
The addition of Vertex will initially be offered in North America, with Point of Rental planning to expand support for global VAT transactions at a later date.
“For many mid-size or larger rental companies working across states and even countries, tax compliance and management almost require a dedicated accountant just to track the ever-changing rules and requirements,” said Point of Rental CEO Wayne Harris.
“This partnership will help free up time for your team to focus on higher-value work like growing the business and increasing revenue.”
“As the tax landscape continues to become more complex, equipment rental companies need to effectively manage tax rates and rules across multiple products, services, jurisdictions and channels,” added Chris Jones, chief revenue officer at Vertex.
The automated solution would facilitate tax calculations for Point of Rental customers across their rental journey, he said.