8 Reasons to Automate VAT Reporting
Simplify VAT reporting — from data gathering to payment — with an automated system.
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.
Meet VAT reporting requirements with confidence
Learn how automating your VAT reporting can enhance processes so you can meet today’s VAT filing requirements while having the ability to respond to tomorrow’s business opportunities with confidence.GET WHITE PAPER