Automating the Exemption Certifcate Liestyle
Understanding theExemption Certifcate Liecycle
The Exemption Certifcate Liecycle is the recurring processexemption certifcates go through rom their creation, to theirongoing use in uture transactions and audits, to their renewalwhen they expire or are classifed as invalid.
Customer and transaction dataTax decisions (rules and rates)
C u s t o m e r r e c o r d s
C e r t i f c a t e d a t a
Sales and Invoiceorigination
There are three primary components o the Exemption Certifcate Liecycle (Figure 1):ECM sotware, ERP or billing sotware and tax decision sotware. All three are criticalor minimizing non-taxed transaction audit exposure, increasing sta productivity andimproving the exempt customer purchase experience.The Exemption Certifcate Liecycle consists o three primary steps initiated by a salesor invoice origination and certifcate request, but thereater, the cycle really never stops.