What it is?

Reachware Suite Tax is an indirect tax solution used to determine and calculate taxes on customer and vendor advances. Natively built on the NetSuite platform, RW Suite tax drives efficiency by transaction tax calculations and reporting functionality within the same suite that companies use for its sales, Purchase and payment processing. RW Suite Tax is used to manage in special circumstance like tax rates updates and automate tax calculation in advances. Also, it generates the complex tax returns in the format prescribed by the government. Auto applied/adjusted to corresponding Invoices and Bills. Monthly VAT adjustment between Output and Input VAT

Key Benefits

• Eliminates manual tax liability adjustment on month end VAT return process.
• Automated GL impact for Taxes on Advances and Monthly VAT adjustment
• between Output and Input VAT
• Uses the built-in tax logic that automates and determines taxability on every sales and purchase advance transactions.
• No need to monitor tax adjustments on each Sales and Purchase open invoice payments.
• Auto applied/adjusted to corresponding open Invoices and Bills.
• Easily applies partial tax payments to open Tax liability.
• Flexibility to import Tax on advance transactions with applicable Tax rates.
• Separate tax form for Customer and Vendor advance records.
• Provide greater visibility for audits with drill-down reports through transaction-level data.

Key Features

• Cancel manual adjustment
• Monthly VAT adjustment
• Uses built-in tax logic
• No need to monitor tax adjustments on every payment
• Automatic application / modification of open invoices and corresponding invoices.
• Easily apply partial tax payments
• Flexibility in import tax on advance transactions
• Separate tax forms for advance records of customers and vendors.
• Provide greater visibility for audits

Reachware

Reachware is an integration platform in which many individual subsystems are combined into a single, larger system allowing the subsystems to work together. Reachware allows any SaaS systems such as NetSuite, Revel, Vend, Xero, Magento, Zed, Qoyod, Shiji PMS, or any other product to achieve the overall functionality required by the organization.

In most organizations there is a need to improve the efficiency and thus the productivity and quality of their operations, so their goal is usually to get the different applications and systems to communicate with each other to avoid the time and effort involved in manually operation with other systems of the organization. With Reachware, organization will see increased information flow speeds and higher process automation as well as lower operating costs.