Reviewing total taxed sales versus tax due offers valuable insights into a business's growth trajectory over time. By analyzing these figures, you can effectively gauge the evolution of sales performance while understanding the pace of business expansion. This comprehension is crucial for anticipating the timeline for tax compliance, as accelerated sales growth often corresponds to an increased tax obligation.
- Taxed sales — refers to the portion of a company's total sales subject to taxation. Anrok derives this figure after accounting for exemptions, deductions, and other factors that might impact the taxable portion of the sales revenue.
- Tax due — signifies the actual amount of taxes a business owes to the government based on its taxable income. It culminates of various tax rates applied to the taxable sales figure.
These metrics serve as indispensable tools for reporting purposes, offering a comprehensive overview of the business's financial health to stakeholders, investors, and regulatory authorities.
Use the Taxed sales report
You can utilize the Taxed sales dashboard to facilitate informed decisions about scaling operations and ensure adequate compliance with tax regulations.
Try reviewing your Taxed sales in the demo above ☝️
- In the Anrok app , go to Dashboard. Take me there!
- Under Taxed sales, select a lookback period or choose a custom start and end date.
- Review the total taxed sales and total due.
- Click on the chart to see how taxed sales and tax due have changed each date.
- Click View details to view your sales across all jurisdictions.
If you have any questions about how to use the Taxed sales report, feel free to reach out to us at email@example.com for more information.