R7VAT Software Solution
A fully automated solution for managing VAT in your organization
Connect Business Systems With Govt. Tax Portals
R7VAT uses a proprietary 7-stage methodology developed by our experts in tax & technology that extracts tax data from various source systems, validates it as per Govt tax rules and prepares it for filing the VAT returns
The R7 Methodology
R7VAT extracts Sales and Purchase data from source ERP and accounting systems using pre-built or custom connectors.
Using data mappers and massagers, R7VAT converts the source data into the required formats
In this step, R7VAT validates the data as per Govt tax rules and acts as a checker to the maker (ERP)
R7VAT produces comprehensive and accurate error reports at the transaction level that helps users to correct them before filing VAT returns.
The VAT returns are auto-populated with the correct data in R7VAT. This can be exported and filed on the Govt Portal.
R7VAT provides an intuitive dashboard to give access to important statistics.
As per regulation, R7VAT maintains all records for upto as many years as needed. It also tracks and records all user activity.
Key Features of R7VAT For UK
Data Remodeling
Remodeling of data to VAT compliant formats using rule-based data processing and conversion.
Heterogenous Data System
Data retrieval from source data systems using pre-built or custom-built connectors. Supports data extraction from multiple ERP systems such as SAP, Oracle, flat files, csv, and data warehouses.
Data Validation
Validation of data as per UK’s VAT regulation, error discovery and checker system.
Reconciliations
Various data reconciliations to assist tax professionals to correct and update the data before filing
Dashboard and Analytics
Dashboards, reports, analytics, audit trail and records archival and maintenance
Payment Transparency
View present and past obligations, liabilities and payment details from the single window
R7VAT Benefits
Fully Automated
VAT returns, Audit file generation and Input tax apportionment can be completely automated
Powerful & Scalable
400+ error checks, ability to skim through millions of records and drill down from summary to line item transaction level records.
Saves Time
Retrieve to record automation, real time data access and increase in efficiency & productivity
Simple & Easy
Access to statistics from dashboard, sales/purchase reports and reconciliation
Saves Cost
Avoid penalties, use less resources, save on costs of delay and resolve errors faster
Mitigates Risks
Complete audit trail ensures you have good governance and control on VAT management
Intangibles
Have peace of mind, improvement in processes and better control and command
Would you like us to assist you with VAT automation?
Feel free to contact us.
