Does FTA Accredited VAT Accounting Software is required for Filing VAT? Perfonec


The Federal Tax Authority’s (FTA) needs for accrediting the tax accounting software really reflects the promise of the Authority to simplify the taxpayer's life in adhering to the VAT compliance. This also emphasises the significance of usage of an accounting software in the journey of achieving 100 % fulfilment for businesses.
The major objective which FTA wants to force through the Tax accounting software requirements is that the automation of all tax based everyday jobs of a taxpayer such as keeping track of records, payments, file VAT returns, generating FAF (Audit File) etc.
Once the accounting software is accredited by FTA, it is definite to simplify the VAT compliance for businesses.
The following are some of the key benefits of FTA Accredited Tax Accounting Software.
1.      Generating VAT compliant tax invoice, Debit note and Credit note
2.      Regular generation of VAT return form (VAT 201) with zero or minimum efforts
3.      Auto-generation of FAF (Audit File) in the structure prescribed by the FTA with zero-efforts
4.      With the inbuilt capabilities to prevent, detect and system-assisted correction, you can be rest assured, VAT returns and audit file generated will be complete and error-free.
5.      On-Time filing of VAT returns since the VAT returns and audit file can be generated effortlessly
6.      Saves you from paying hefty penalties starting from AED 1000 to AED 50,000 which will be applicable for non-adherence for various compliance requirements
7.      Maintaining books and all other VAT records for a period of 5 years or 10 years as applicable.
8.      With the automation of all tax based responsibilities, it helps in reducing the compliance cost for businesses
9.      While all the VAT reports are always ready (automated), it creates a platform which makes it easier for you as well as FTA to co-operate in areas such as audits.
10.  With all these benefits, it gives the business owner’s peace of mind and allows you to invest more time concentrating towards your business growth rather than get stuck in the compliance grid.
FTA Accredited Tax Accounting Software included software which helps the businesses in managing their business needs such as managing books of accounts, Accounts payable, Accounts receivable, Billing, Financial reporting, Order management, inventory management etc. and at the same time, helps you to be 100% VAT compliant.
For FTA Accredited Accounting Software’s Contact
Perfonec Computers
www.perfonec.com

Comments

Post a Comment

Popular posts from this blog

Embrace the Future of Hosting with a Cloud Server

Image
 In today’s digital-first landscape, having a powerful, secure, and scalable hosting solution is essential for businesses of all sizes. As technology evolves, so does the way we store and manage data. Traditional web hosting, while still in use, is being rapidly replaced by more efficient systems like the cloud server . Whether you're a small business, an eCommerce entrepreneur, or running a large-scale enterprise, migrating to a cloud-based solution could be the smartest move for your digital future. What Is a Cloud Server? A cloud server is a virtualized computing resource that operates within a cloud infrastructure. Unlike conventional physical servers, it functions across a network of interconnected virtual machines, offering flexibility and scalability in a digital environment. These servers pull resources from a wide pool of physical machines, ensuring consistent uptime, faster processing, and easy scalability. This means if one server fails, another picks up the load—en...
Read more

A Guide to QuickBooks Data Migration Services for Businesses

Image
  Switching to QuickBooks Enterprise from other accounting systems can streamline operations, improve data accessibility, and enable better financial management. However, moving large amounts of accounting data from one system to another is a delicate process that requires precision and expertise. Utilising professional data transfer services can facilitate a smooth transition and ensure data accuracy. This guide will explore the importance of these services, the steps involved in data migration, and tips for safely transferring data. Why Use Data Migration Services? Transitioning to QuickBooks Online can be overwhelming, especially for businesses with a high volume of historical data. Manually transferring data is not only time-consuming but also increases the risk of errors, which can lead to compliance issues, financial discrepancies, and operational disruptions. Engaging professional QuickBooks data migration services helps ensure that the transition is efficient and that ...
Read more

How Cloud-Based Accounting Software Streamlines Financial Management

 Cloud-based accounting software has transformed financial management by offering businesses a streamlined, accessible way to handle their finances in real-time. Unlike traditional software that requires installation on specific devices, cloud-based platforms allow users to access financial data from anywhere, at any time, using any device with internet connectivity. This flexibility means that financial teams, business owners, and decision-makers can monitor cash flow, manage budgets, and oversee expenses without being confined to a single location. Moreover, cloud-based solutions automatically update with the latest financial regulations and software features, ensuring that businesses always remain compliant and up-to-date. Additionally, cloud accounting software simplifies collaboration across departments by centralising financial data. With everyone accessing the same real-time information, errors from duplicate entries or outdated data are minimised, and decision-making becom...
Read more