8 Reasons to Automate VAT Reporting

Why should you automate VAT reporting?

VAT reporting is often perceived to be a routine process easily manageable through a manual, spreadsheet driven process. However, if you breakdown this process into individual steps and take a closer look, it becomes apparent that the overall process can be quite time-consuming and requires specific knowledge. A VAT reporting solution will automatically perform most data validations and other processes, freeing up valuable time and resources. Learn more about VAT reporting in this infographic:

Automatic quality checks, draft returns, and payment processing

VAT reporting technology automatically archives all steps and data in the compliance process into a central repository that can easily be accessed in case of a tax audit. This eliminates the risk of lost data and reliance on employees or third parties. 

Automated VAT technology also has built-in quality checks. Any issues are reported transparently to facilitate manual interpretation and follow-up, creating central insights into end-to-end VAT processes. 

Finally, VAT reporting technology automates payment and monitoring of VAT balances, refunds, and reconciliations.