iXERP TAX Compliance is one of the most important elements that businesses should consider when implementing a Cloud ERP software.
Several countries are working hard to make tax digital and encourage business owners to keep their records digitally for several years, also the tax records should be connected to the invoices which generate the tax record.
Our team are working continuously with compliance offices, consultants and government entities to make sure that any new requirement or rule is covered by iXERP and compliant with most of the governments worldwide. Read more about TAX Compliance Software
How iXERP is TAX Compliance?
The following points summarize how iXERP is in compliance with most governments tax requirements.
- iXERP is keeping your digital records with an unlimited number of years as desired by the government tax authority.
- iXERP is building tax records automatic from invoices and taxable transactions without the user manual intervention.
- Tax rules can be set for customers and suppliers and items depend on your region and country tax rules, and can e changed when the rule change.
- iXERP consolidated several reports to serve tax purpose, like VAT report and income tax report and company financial reports like balance sheet and profit and loss statement.
- VAT report can be extracted from iXERP to include suppliers and customer invoices and calculate the invoices VAT, then gives the total payable tax, this report can be exported to Excel or CSV.
- A very important factor is the language of the country and the tax report output, iXERP is localized per user depends on the country and its language, businesses work across borders with several tax and language requirement can be covered by iXERP.
- Detailed financial statements are prepared automatically and can be extracted anytime to check the company financial status and payable tax in case of profit.
- iXERP provide a detailed tax setup screen to be able to cover all tax rules worldwide, like taxable company shipping, whether the tax included in the price or excluded, tax-exempted products, customers and suppliers, taxable cash transaction and journal entries.