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2025 Quarterly Tax Estimate (QTE) Process Guide

Table of Contents

Overview

This guide provides detailed instructions for sending quarterly tax estimates (QTE) after the completion of bookkeeping monthly close. The primary goal is to guide users through the process of sending quarterly tax estimates to members, covering standard procedures and addressing potential issues.

Workflow

Step 1: Accessing the Reports

To begin, verify that the financials have been sent using the report from Salesforce. This will notify the tax team that bookkeeping is complete.
Accessing Reports

Step 2: Navigating to the QTE Section

Log into your Collective Hub account. Click on "Hub B2" and then select the "Onboarding" tab. Navigate to the "Tax" section and select "QTE" to proceed.
Navigating to QTE

Step 3: Sending the QTE

Once in the QTE section, search for the member you need to send the QTE to. Ensure there are no foreign registration or state nexus issues. If everything is clear, proceed to refresh the calculation, approve, and send the QTE.
Sending QTE

Step 4: Handling Complications

For members not updated their tax profile, assign the task to the appropriate person (e.g., Drew) for resolution. If state nexus or foreign registrations are listed, verify they match the member's state of residency before proceeding.
Handling Complications

Step 5: Assigning Tasks for Unresolved Issues

If unresolved issues persist, assign the task to the designated person for further investigation. This ensures that all complications are addressed appropriately.
Assigning Tasks

Change Control Log

  • Initial version of the guide created.
  • Updates will be documented here as changes are made to the process.
Ensure to follow each step carefully to send QTEs efficiently and address any issues that may arise during the process.