If you operate an ERP or accounting platform and generate a high volume of transactions to calculate your VAT report, ensuring each transaction is accurately accounting for VAT can be a challenge. Many transactions could be incorrectly rated for VAT or mis-posted which inevitably will lead to errors on your returns.
Moreover, these errors represent risks in case of FTA audits where your internal data is assessed. Ideally you should validate all your internal transactions independently to highlight and correct possible errors to ensure your transactions and reporting are accurate.
Our service can validate your internal VAT postings and rating by processing all your data and validating each accounting entry to provide greater confidence on your VAT returns.
- Once we set up your account, you provide us all your data for a given tax period. All transactions can be provided, we can process 100,000’s of entries.
- Every entry is validated against our library of tax rules to ensure each line is processed for greater confidence.
Highlight & Report
- Our report will highlight errors with your tax determination and rating. This can be double checked and corrected in your platform to ensure your system reconciled.
- These errors can possibly highlight systemic issues that should be corrected in your processes, operations or system.
- Ideal for checking the accuracy of any filed or pending system VAT report
- Cost effective and comprehensive support for your finance function
- Common errors can highlight risks for correction in system or processes