VATCalc automates validation of pre-filled VAT returns against transaction-level data
Tax authorities are moving to pre-filled VAT returns built from e-invoicing and e-reporting data. In Europe, countries like Italy and Spain lead the way, with many more coming as their domestic e-invoicing regimes launch.
Your VAT position will be calculated for you. Your job is to prove it is correct. VATCalc’s e-Reconciliation you get that done.
New control layer to manage a flip in VAT compliance roles
Pre-filled returns change the role of the taxpayer.
The authority compiles the VAT return from reported transaction data (pre-clearance e-invoices; e-reporting; Control Statements; SAF-T; customs information) and presents it for review. If it is wrong, the burden is on the business to identify and correct it. Differences arise for many reasons: timing; errors in e-invoicing, e-reporting, SAF-T etc processes; misunderstandings on in-scope transactions; credits; manual adjustments and special tax regimes; and more.
That requires a new capability: systematic reconciliation between what was reported, what was received, and what sits in ERP. VATCalc is the only tax tech vendor that can provide this because of its single tax engine and VAT returns application.
Introducing VATCalc pre-filled returns e-Reconciliation
Delivers errors and omissions from government VAT returns to investigate
A clear, auditable answer to a simple question: is the tax authority’s version of your VAT return correct?
Users get a focused list of transactions to review, not a high-level variance to investigate. Every difference is traceable from VAT return position back to the underlying invoice and reporting flow.
How pre-filled VAT return reconciliation works
VATCalc ingests the pre-filled return and traces it back to the underlying transaction data. It then re-determines VAT using legislation-coded rules and matches:
- what was reported to the authority
- what was received from suppliers and customers
- what is recorded in ERP
Differences are identified at invoice level and explained before the return is accepted or adjusted.
Why VATCalc leads – world’s only single tax engine & reporting application
Pre-filled returns are built from reported data. Most solutions from legacy VAT tech providers stop there.
VATCalc goes further with its single application with three products:
- re-performing VAT determination in VAT Calculator
- validating reporting outcomes in VAT Auditor; and
- reconciling directly to the return in VAT Filer.
All within a single app.
Adopting our e-reporting functionality
VATCalc already provides this control through its e-Reconciliation function for matching e-invoices and e-reporting to return. It connects:
- pre-filled VAT return data (via API or download)
- submitted e-invoicing / e-reporting data
- ERP transactions (AP / AR)
and combines them into a single, explainable VAT position.
