With state-of-the-art technology and a team of experienced audit recovery consultants, we conduct the industry's most comprehensive analysis of your payments, policies and processes.
A complete A/P audit includes an electronic and manual review resulting in an in-depth assessment of where and why revenues are being lost. From these results, we design customized cost-saving solutions to fit your organization's unique needs.
Electronic reviews are conducted using RSI's suite of proprietary software tailored to the exact specifications of each client's industry, accounting system and data file format. Our clients deliver data in the format and medium that is most convenient to them. More importantly, because data queries are customizable, our software's ability to detect payment irregularities and inconsistencies is unmatched. Through the use of fuzzy matching logic, we identify approximately 50 categories of overpayment errors.
Manual audits are completed by intensive hands-on examinations of relevant documentation. Examples include vendor payments, third-party payments, purchase orders (PO), contracts, freight bills, statements, state tax accruals, masterfile terms, leases, co-op, rebate files, manifests, wires, and escheated funds.
State promulgated business tax regulations are notoriously confusing and inconsistent.
RSI takes on the burden of navigating these extensive and ever-changing rules to identify and recover excise/sales/use taxes.
Our comprehensive state excise tax recovery services are customarily included as part of the A/P audits but can also be customized to your specific needs. These services involve the identification and recovery of overpaid sales and use taxes on goods or services that are exempt from sales/use tax or non-taxable. These overpayments arise from taxes paid to vendors or taxes that are accrued and paid directly to the state. Either way, RSI identifies the overpayments and assembles all documentation necessary to secure the refunds including securing any necessary tax rulings to substantiate the refund.
The collection methodology of overpaid taxes depends on several variables including pertinent state refund procedures, client preference and whether a state audit is already underway. The entire process is usually accomplished without any interruption to your business operations.
And because we want you to benefit from future tax savings, RSI also provides tax-consulting services to help minimize future state tax exposure through the creation and implementation of best practices standards.
RSI routinely provides audit defense services for clients under sales/use tax audits by taxing jurisdictions. We have nationwide tax expertise and our experience in audit defense goes well beyond using obvious exemptions allowed by each state to obtain credits. Our services consist of maximizing savings on non-taxable goods or services, tax exemptions and identifying incorrect rates and taxing jurisdictions. Additionally, we seek to procure additional exemption opportunities.
We have successfully turned million dollar tax assessments against our clients into refunds.
Recovery Solutions, Inc.
2035 FM 359, Suite K
Richmond, TX 77406
Phone: (281) 776-9407
Fax: (281) 776-0001