PANTHEON Features – VA
PANTHEON makes it possible to keep tax records in accordance with valid laws and regulations. The VAT module includes:
- Tax records: Ledgers of invoices issued and received, import invoices
- Ledgers of prepayments made and prepayments received
- Ledgers of invoices and prepayments for the European Union
- Automatically create VAT accounts
- Automatically create state-mandated forms and attachments for VAT
- Edit data in state-mandated VAT forms including attachments
- Quarterly reports
- Reports on supplies
- Automatic VAT posting
- Supports country-specific VAT regulations
- Control reports
Tax Ledgers
Tax ledgers in PANTHEON are created automatically based on data entered into the Goods module. The data are classified in the tax records according to the selected tax rate and the type of purchase or sale (e.g. domestic and foreign purchases, and sale to end customers).
The ledgers of invoices include: ledgers of issued invoices and received prepayments for domestic and EU issues, ledgers of received invoices and prepayments made for domestic and EU purchases as well as imports. The software also supports the automatic creation of custom forms, specific to any country.
For analytical and control purposes, the tax ledgers can be used to create reports for periods other than the tax period (e.g. for a particular week, partner, department).
VAT Account
VAT Accounts are created automatically in PANTHEON. They can be printed out directly from the program or exported into e-tax systems. Additionally, you can create all required supplementary documentation automatically in the rpogram. When the VAT forms are filed, you can lock down the tax period preventing further changes to the data in the system. VAT filed in such a way is automatically posted in PANTHEON.
Quarterly Report
Taxable persons that supply goods to other taxable or legal persons liable for VAT in another EU member state, has to report the provision of goods in the EU in the Quarterly report, which is created automatically in PANTHEON. If you find that there is incorrect information for an older period, you can manually correct it in a form specifically designed for this purpose.
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