In the United States, the government has imposed taxes on cigarettes and tobacco products. Wholesalers and distributors who bring tobacco products to their facilities for the resale of vapes, tobacco, cigars, cigarettes, etc. have to pay the taxes. Also, the retailers and consumers who are engaged in the sale and purchase of tobacco are obligated to pay taxes. However, the sellers collect taxes from buyers during the invoice and have to report the collected taxes to the concerned authority. The GuruWay is offering reliable and fully-automated MSA reporting software which helps tobacco distributors, warehouses, and retailers to prepare weekly reports for presenting accurate data to the Department of Revenue.
Overview of MSA reporting
MSA is Master Services Agreement reporting which is signed between 46 US states and tobacco manufacturing companies. Under this agreement, wholesalers and stockists of tobacco, cigars, and e-cigarettes are required to report sales and activity reports to manufacturers. This is weekly reporting which comprises data about sales of tobacco products to local and out-of-state vendors. It requires sellers to prepare a report with complete batch no, product item, sales status, and tax collection particulars. We provide an ERP system that automates the full reporting process on time and correctly. It helps in tax return filing and notifies errors in reporting prior to submission.
Key features of the ERP system
Appropriate reporting
For many tobacco companies, preparing MSA reporting is a complex task. It comprises detailed information about sales and inventory of taxed and non-taxed tobacco merchandise. Thus, fetching all data manually to make reporting is highly prone to errors. So, our MSA reporting software works to make it precise by automating sales, inventory, and invoicing processes. Thus, you can prepare and submit MSA reports on time and meet all requirements set by trade programs of tobacco manufacturers.
System integration with accounting process
Accounting is the key aspect of the tobacco business since it keeps your operations aligned with sales, invoicing, and tax collection on tobacco products. The ERP software has direct integration to make accounting better and faster than conventional applications. It can automatically save data for sales and invoicing of tobacco in easy formats. Thus, you can derive useful information from saved data to prepare Master Services Agreement reporting. An ERP system can also provide you with the desired format for reporting as per your specific tobacco business type. You don’t have to make time-consuming efforts to prepare reporting formats in spreadsheets.
Cloud-based arrangement
Our enterprise resource planning system is highly secured MSA reporting software. It is a centrally managed system to deliver you a secure platform for reporting. Thus, you will not only get ease and flexibility in preparing MSA reporting for your tobacco business. However, the system also ensures the safety of your valuable data by protecting it from unauthorized access. Hence, it delivers you the neat and clean process of preparing MSA reporting by preserving necessary information. Sign up now for a free demo of our software to understand its seamless working.