VAT management Software VATAX has been approved
VAT management Software VATAX, the latest product of garments specialized software company Skylark Soft Limited, has been launched recently. It is a unique application to manage VAT operation smoothly as per the compliance of the National Board of Revenue (NBR) according to VAT ACT 2012. The VATAX has been developed by a unique team and has been defined by a certified VAT Consultant in Bangladesh. It follows the NBR Guideline fully compliant with VAT & SD Act 2012, as of GO-16/VAT/2019
VAT management software is an NBR Approved VAT software system that is used to calculate value-added tax or VAT for an enterprise. In Bangladesh, VAT Management Software is used to record entries related to sales, purchase, inventory, production and payment-related entries and finally generates government prescribed reports. VAT software also helps users to submit a final VAT return to the government system directly. Users can monitor digitally from anywhere they like. It generates reports on daily, monthly & yearly activities that allow users to be aware of their financial status. VATAX is in full compliance with the VAT Act of 2012. This VAT management system gives your business a Real-Time data operating system with accurate reports by following NBR rules & always ensures customer priority with 100% effort and provides quality support.
Why do you use a VAT Management Software VATAX?
It minimizes human error:
This is true. Generally speaking, an automated process is system generated, so the logic here is that whatever is the automated command, it repeats the same cycle. It won’t make any errors unless the method is interrupted, which is the total opposite of the human workforce. Humans as we are, we commit mistakes, so if we are to be compared with machines in terms of errors, it is likely that technology is much effective
VAT returns are processed quickly:
Because everything is automated and system generated, a faster VAT system can be achieved. VAT returns specifically are managed quickly with the automated method compared with the manual way. The sad reality is that when paperwork is done by the human workforce alone, it would take forever to finish them.
Complete tax compliance is achieved:
Technology is rapidly evolving and so is the tax system. Tax rules and regulations are flexible; they can be changed from time to time. So, with the automated tax system, effective and immediate global VAT compliance is positively reached. VAT compliance alone is a big and complex process, so VAT Automation can significantly support the work.
Reports are accurately Produced:
With easy access to the VAT process, financial reports are processed accurately. So, whenever there are audits, hard copies of financial records can be easily accessed and reviewed. Soft copies are not a problem too. Auditors have the convenience to compare the hard copies of financial reports with the soft copies.
It takes away much burden:
This is the obvious advantage of automated VAT. The burden of the manual process is eliminated. Manually doing everything takes a lot of time, effort, and concentration, so with the automated system, all of these will be utilized in some areas that manpower is much needed. Aside from that, the pressure on a lot of people is also minimized.
VAT data is safe:
One good thing about automation is that it keeps records safe. Although there are so many cases of a security breaches, a strong security system is the only solution to this. So, IT Professionals are much needed in this case. As long as you have the right people, you are secured.
Modules of the VAT Management Software VATAX
- Local Purchase
- Debit Notes
- Local Sales
- Credit Notes
- Raw Materials
- Product Receive
- Transfer Raw Materials
- Transfer Products
- First Tofshil
- Second Tofshil
- Third Tofshil
- Products On 15% VAT
- Tarrif Schedule
- VAT Types