A sales tax report is basically the transactions that one adds during the reporting time. It is a type of generic report used for the tax period that is set for the setting of the finance; the report is used for gathering the information for filling of sales tax. The sales tax report consist of two tabs that are sales tax summary and sales tax audit report
Sales tax summary includes the summary of taxes that consists of the tax rate, tax account type, or the tax component. Moreover, the Sales Tax audits on the sales tax transaction for the return period. The report uses the sales tax setting of the organization's financial settings. Furthermore, it includes the tax rate that is applied for the transactions in that particular period.
Sales tax report is prepared according to the rules of the state. To file the report one has to collect, report, and pay the tax for availing the product or services that one sells.