After each day, DAVO syncs with your POS and determines how much sales tax you need to set aside for that day’s sales. We need your banking information to transfer the sales tax you collected that day into our secure tax holding account. We will hold the money in that account until your sales tax is due, and then we will file your sales tax and pay it with the funds we have set aside for you.
Your bank account information is also how DAVO’s monthly subscription is paid, except Clover and Poynt systems. Clover and Poynt bill through their system.