We’re pleased to reveal that we have successfully built our very own enhanced VAT solution designed specifically for Dynamics 365 Business Central users.
So just what does Advantage’s new enhanced VAT solution do?
If your organisation is eligible to reclaim VAT on some of the goods and services you purchase for use within your organisation, you will be aware that the process of reclaiming VAT can be potentially very complex. Advantage Business Systems’ Enhanced VAT Solution will manage calculations and postings of transactions for you within Microsoft Dynamics 365 Business Central (the latest version of Microsoft Dynamics NAV).
It will accommodate:
- Non-Recoverable, Fully Recoverable or Part Recoverable VAT accommodated
- Record Partial VAT for AP and General Ledger
- Compatible with the UK VAT100 reports available within Microsoft Dynamics 365 Business Central
What are the benefits of Advantage’s very own enhanced VAT solution?
The following benefits can be achieved by adopting Advantage’s enhanced VAT solution:
Improved Cash Flow
The first benefit is the fact that to some businesses being able to recover VAT has been difficult largely in part to the accounting needed to be able to effectively and efficiently track the VAT that can be recovered. However, this issue is resolved by using our solution whereby the calculation can be completed in your software making it easy for businesses to be able to recover VAT for a lower cost.
Improved accuracy in VAT
The second benefit is when you are submitting your VAT return you can be rest assured that the supporting transaction level reporting will help you to provide a suitable explanation for the return. Furthermore by regularly running audit reports through the solution, you will be able to show the VAT position as well as being able to easily identify transactions that fall outside of the normal recovery percentages and help to reveal miscoded values.
Improved VAT Compliance
The final benefit is improving VAT compliance as when VAT regulations were applied for things such as reverse charges or changes in rates for items, our new & improved solution can help to ensure that you remain compliant and are able to process these regulations through your Dynamics 365 Business Central system.
Next Steps?
If you are a business that is currently using Dynamics NAV and looking to upgrade to Business Central to take advantage of this solution or you are currently using Dynamics 365 Business Central & are looking to discuss this solution in more detail then please get in touch with one of our Business Central experts today who will be able to discuss your specific business requirements.
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