VAT Determination - Monitoring and Reporting

Ensure data accuracy for VAT reconciliation reports

Prevent errors and incorrect filings with an automated, comprehensive SAP monitoring and reporting process

International businesses with complex, multijurisdictional supply chains need to ensure their VAT determination decisions are right every time.

Monitoring supply chain transactions creates challenges for tax and IT teams attempting to address determination decisions, especially if done manually.

Whilst SAP leads the way in advanced accounting software, conducting analysis and managing corrections accurately within the off-the-shelf SAP system can be complex. Conducting data checks and changes manually is time consuming and error prone, and SAP’s limitations make monitoring determination processes across the supply chain challenging.

The simple solution for accurate VAT compliance reports

The Monitoring and Reporting module within our VAT Determination suite simplifies data checking and can help to uncover errors before they become an issue.

Sovos VAT Determination is a flexible, automated suite of SAP modules providing efficient, transparent and correct identification of VAT determination processes across chain transactions for sales and purchases, including VAT ID checks, monitoring and reporting. Sovos VAT Determination – Monitoring and Reporting includes two vital elements: a tool for checking data and finding errors for VAT reconciliation and advanced VAT reports for additional data queries and VAT analytics.  

Sovos VAT Determination – Monitoring and Reporting module is a certified add-on for SAP

Instantly monitor and verify VAT determination data for VAT reconciliation reports

Minimise audit risks by comparing general ledger and account balances with postings against specific tax codes

Improve accuracy of data aggregated for periodic reporting including VAT Returns, EC Sales Lists, Intrastat and SAF-T

Increase compliance with accurate, comprehensive report submissions to tax authorities

Cost and time savings with process automation for manual analysis and data correction

Reduce the risk of penalties from incorrect filings with in-depth monitoring and reports

Simplify data checking and error finding for VAT reconciliation with Sovos

Ensure the accuracy of your data and support the resolution of errors with integrated VAT analytics and Advanced Reports.
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