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Compass VAT Solution

Compass VAT was designed and built to fit to all the regulations, treatments, and reporting required by the UAE and KSA governments.

Data checking and validation identifies possible errors and anomalies (Exceptions) that can usually be fixed within the taxation period rather than requiring adjustments to the returns. If adjustments are required, such as bad debt adjustments, they are made in a controlled, structured, and easily visible manner.

Compass VAT Reporting separates duties between preparers and reviewers with a tax calendar powered dashboard for tracking completed and due filings

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Why do you need Compass VAT?

  • Compass VAT will automatically import data at predefined schedule from sales and purchase transactions directly from your financial/ERP system like SAP, Oracle, Sage, etc.
  • You can import data in multiple formats such as txt, csv, xls, and xml.
  • Compass VAT will integrate seamlessly with any system.

DATA EXTRACTOR

VAT CALCULATIONS

  • per product type or per vendor.
  • use different rate calculations.

VERIFICATION

  • Data checking and validation identifies the errors and conflicts that can usually be fixed within the taxation period rather than requiring adjustments.
  • More than 100 data checks during data extracting to have VAT returns as accurate as possible.

EXCEPTION HANDLING

  • Handle all exception and solve them after verification module.
  • Errors are pushed to an error list to review.
  • Daily extracts identified errors which can be corrected in the ERP.

ADJUSTMENT

    • Adjustments are made in a controlled, structured, and in an easily visible manner.

    REPORTING AND RECONCILIATION

      • Intercompany reconciliation processes.
      • Direct drill down from the return boxes to the underlying invoices.
      • Tracking paid or refund vat amounts.
      • All reports are in Arabic and English.
      • Data mining tools and Dashboard.
      • Automated support for VAT to GL reconciliation.

      ERP INTERFACE

      Compas VAT will interface with any ERP or accounting system, or several of them at once.

      WEB BASED

      You only need an internet browser to run the system

      Features

      Multi-Company

      Seamless Integration

      Cloud Based

      GCC

      Compatible with GCC regulations for Value Added Tax.

      Compass will always be up to date reflecting all and any changes in the reports and calculation rules.

      UPGRADES

      BENEFITS

      Take a look at all the benefits offered by Compass VAT!

      We provide local support in:

      • Saudi Arabia (KSA) including Riyadh and Jeddah.
      • United Arab Emirates (UAE), including Abu Dhabi, Dubai, Sharjah, and all major cities.

      LOCAL SUPPORT

      Transtek Systems © 2017