Fully automated VAT determination of AP and AR

Taxmarc™ Tax Engine enables – without extra interface – a fully automated VAT determination of all sales and purchase transactions in SAP. All VAT relevant data of all legal entities (at client level and not at company level) are gathered first in order to ensure the correct VAT determination with integrated tax control framework in SAP

Taxmarc™ Tax Engine can be implemented in all recent versions of SAP (R/3 or ECC)

1. Fully automated VAT determination of outgoing invoices (AR) on the basis of 30 parameters instead of the 4-8 parameters in standard SAP;
2. Automated VAT determination of incoming invoices (AP) based on purchase orders and actual vendor invoices;
3. Fully automated VAT determination of chain transactions in SAP with the assurance that the VAT code on sales transactions always correspond to the VAT code on purchase transaction;
4. Integrated Tax Control Framework which ensures that transactions that fail to comply with fiscal requirements are automatically blocked. Blocked transactions can be released but are always logged for review;
5. Time-stamped tax code structure: no new tax codes are required when VAT/GST rates are changed;
6. Taxmarc™ prevents that time-consuming manual processes outside of the system are necessary;
7. Taxmarc is fully table-driven and there is no “hard-coding” of tax rules, which results in easy maintenance;
8. Integrated VAT number validation in SAP
9. Taxmarc™ Tax Cockpit
10. SAP – IMG: All VAT technical configurations and set-up options are grouped together in the standard SAP IMG
11. Data analysis tool: