Avalara MTD Reporting for Unit4 Financials

Making tax compliance less taxing

As tax authorities globally look to monitor VAT/GST liabilities in real time and move to digital transaction reporting the onus on organisations to create timely and accurate, digitally formatted VAT returns has become ever more pressing.

The Avalara MTD reporting solution offers the ability to file VAT Returns and other indirect tax compliance reports in 43 different countries. In doing so the solution addresses the complex automation needs of organisations by increasing compliance accuracy, significantly reducing dependency on manual end user computing processes while at the same time dramatically reducing the operational risk associated with these manual tasks.

Using the Unit4 Financials Structured Output (available from Version 13 onwards), Avalara is automatically populated daily with sales and purchase transaction data. A data checking and validation rules engine identifies possible errors and anomalies that can usually be fixed within the period rather than requiring retrospective adjustments to the be made to returns.

VAT returns are submitted electronically to meet compliance with individual countries’ specific filing formats and returns can also be displayed and saved in PDF format in the relevant local language or translated to English.

Learn how to make Tax Digital using Avalara for Unit4 Financials

In this video we provide a brief overview of the Masters required for the structured output module and show how to create the files in Unit4 Financials, for digital tax submission using Avalara. This is available using Unit4 Financials from version 13 onwards.

We will be covering four key areas:

  • Selection – identifying transactions to be included
  • Mapping – Unit4 Financials to Avalara
  • Transformation – mapping may not be straightforward
  • Output – where the files are sent
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