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generate.TAX Solution Spotlight

generate.TAX – A comprehensive suite of VAT solutions

5 minutes to read

Solution Spotlight Issue #5

Designed to easily be connected to multiple Xero organisations including Ledger and Standard plans, generate.TAX is the ideal solution for accountants and finance professionals looking to boost their efficiency with VAT reporting.

generate.TAX is a tax suite that seamlessly connects to your accounting software and helps accountants and finance teams with statutory tax compliance/obligations.

VAT Return Generator

Automates the creation of VAT returns and other VAT declarations across multiple territories, streamlining the entire process and ensuring accuracy and compliance with tax regulations. This feature offers seamless data integration and calculation, allowing for customizable reporting parameters and automatic form generation and simplifying the VAT submission process.

Recapitulative Statement

Offers solutions related to the filing of recapitulative statements (also known as EC Sales Lists) for businesses engaged in cross-border transactions within the European Union (EU).
The recapitulative statement feature streamlines tax reporting by automating data collection and statement generation while ensuring compliance with the latest regulations. It offers flexibility, along with comprehensive reporting and audit trails for accurate and efficient tax management.

VAT Number Checker

A powerful solution for ensuring the accuracy and validity of customer and supplier VAT numbers stored within your accounting software. This feature goes beyond simple validation by providing a certification process that verifies the live status of VAT numbers to ensure accuracy and compliance. It seamlessly integrates with your software, helping maintain up-to-date and compliant VAT records.

User Access Control

The system allows multiple users to be assigned roles such as preparer, reviewer and approver for access control. This enables efficient delegation of tasks and ensures a streamlined workflow with distinct user permissions.

EMEA Tax Software

generate.TAX helps you file VAT returns and other VAT declarations and statements in multiple countries across EMEA and beyond. The countries that are currently supported by generate.TAX include Malta, Cyprus, Ireland, UAE, Isle of Man, Jersey. More countries such as Sweden, Netherlands, Germany and Iceland will soon be supported.

Currency Conversion

The system has in-built foreign currency conversion capabilities based on ECB rates to allow users with the ability to translate transactional data into a different currency and thus allowing for the preparation of VAT returns in a currency other than the accounting presentation currency.

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