KARAT | Information system KARAT | Modules description | VAT
VAT
The VAT Maintenance and VAT Declaration module allows you to work with the recapitulation of tax documents which are created as an integral part of the accounting core. In IS KARAT the VAT is determined from the posted items of the primary documents according to the associated VAT codes with the individual items.
The VAT module includes tools to control individual tax documents (tax recapitulations) with the possibility of direct access to the corresponding primary document and its immediate correction. For larger companies the benchmark controls for individual VAT codes are available as well (however, they include rounding error).
The module includes tools for definition and calculation of regular as well as additional VAT declaration. After creating the declaration, the closing of all tax documents entered the declaration is made automatically. The created declaration generates order to account file which is referenced by financial transaction in the bank. Thus, the disbursements are traced in the account file. Then the declaration is possible to be posted automatically. It means that the declared amount of the sent or received financial performance against the account, which represents liability/receivable to the finance office, will be posted to the opposite side of corresponding 343 accounts. As well rounding performed within the declaration will be posted automatically.
Maintaining and VAT records:
- Recapitulation of tax documents as the part of the accounting core
- Tools for revealing incorrect tax documents with the possibility of direct error correction
- Creation and print of regular as well as additional VAT declaration (including using coefficient)
- Declaration posting and binding to the account file