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Our Strength

Since 1984, IAB has been serving the credit community as an Accounts Receivable and Deduction Management service provider. Our services generate cash to reduce your DSO, DDO and improve your bottom line. IAB delivers a revenue stream while providing valuable reporting and analysis to our Clients. Personalized services truly represent our goal of: PARTNERS. SOLUTIONS. RESULTS!

Sales Tax Exemption Project: A Case Study

Situation

  • Our Client needed to collect and maintain records of their customer’s Resale Tax Exemption Certificates.
  • A database was needed to create and maintain the records of the documents received. This database also had to be accessible for viewing by different departments.

Challenge

  • Mass mailings had to be sent out to the different customers (Over 5,000). Over 8,000 certificates had to be collected.
  • Once the documents were received, they had to be scanned in order to be hyperlinked to the database.
  • Creating a database that could house the information retrieved, along with the hyperlinked items.
  • Once forms were obtained, we had to make sure that they were in compliance with the Department of Revenue in their respective state.

Actions

  • Mass mailing sent to the parent accounts. Many had “Multijurisdictional” certificates which covered all of their “ship to” addresses.
  • Contact information was collected for future updates (expired certificates)
  • An Access database (with hyperlinks to the documents) was created on the clients shared drive (read only) for the other departments to view if needed.

Results

  • Our actions resulted in our client having access to the Sales Exemption Certificates within seconds.
  • Our information successfully assisted in 3 different state tax audits.
  • With the database created, we are able to maintain and update information, and request updates on expired certificates.