A report that lists the transactions that were in a foreign currency but from a domestic supplier.
A report that list new non-domestic suppliers so that the correct reverse tax can be checked
A report to list all of your recovery rates – this can be particularly useful for financial institutions where recovery rates change on a frequent basis.
This report is designed to list all the invoices entered that have either had a tax line changed, cancelled or manually adjusted in anyway. This report is intended to be run on a regular basis so that the tax group can identify the transactions most likely to need checking.
We have enhanced this so that the legal entity number chosen is dependent on the Ledger so there is no risk of choosing the wrong combination. We have also added functionality to run all the legal entities from one ledger, particularly useful if you have multiple legal entities under one ledger.
We have created a dynamic report that can be used on any GST/VAT based tax regime that can be used to prepare the data for your tax returns. We have also built in currency functionality so that if a particular bank exchange rate is needed, we can report this.
The aim of eBiz Answers is to change the way tax departments currently prepare their reporting which is usually after month end. Any corrections that they make are done via journal entry. Instead, we have designed a solution that will allow them to run regular reports to identify the issues and then correct them at source.
When it comes to month end, there won’t be any issues to deal with and no manual journal corrections that have no drill back functionality because all the corrections would have been made to the incorrect transaction. This early warning system not only allows for the data to be corrected but also for users entering the data to be pulled up and corrected so they don’t make the same mistakes again.