WHAT is SmartVAT
SmartVAT is NBR enlisted specialized VAT software that formulate and accomplishes vat system with user interface and simple dashboard to understand. SmartVAT has been built and facilitate over the time to be compatible with multiple businesses for Group of Companies. Easy Integration, Premium features and positive feedback from client is also makes SmartVAT a game- changer.
Fundamentals of SmartVAT software is built after analyzing the need of business industry over the years. So User friendly, Reliability, Flexibility, Security and Integrating process has been ensured properly during SmartVAT software developing process. Main feature includes-
3rd party Integration
Data Entry Import & Export
System API Integration
Direct Data Entry
Business needs an independent and ready system like SmartVAT Software. It’s easy to deploy and the interface is user-friendly.
Data Import from other System
Systems Data can be imported from any point of business and users can import data from XLS/CSV files with the use of SmartVAT Software.
API Integration with 3rd Party
Although It’s a complicated process but SmartVAT can easily handle integrating with any 3rd party system.
Stand alone deployment is the mechanism through which applications, modules, updates, and patches are delivered from developers to users.
On-Premise software deployment refers to the process of running an application on a server or device. That means software is installed and managed by company’s server. User will have the usable part of the software for work purpose.
We are working on Cloud process to place our system into more flexibility & security. SAAS based model will be deployed soon.
Mushak(VAT & SD Act 2012)
Mushak - 4.3 : Input-Output Coefficient Declaration
Mushak - 6.1 : Purchase Accounts Book
Mushak-6.2 : Sales Accounts Book
Mushak - 6.2.1 : Purchase & Sales Account Book
Mushak - 6.3 : Sales Invoice
Mushak - 6.4 : Invoice of contractual production
Mushak - 6.5 : Invoice for transfer of goods
Mushak - 6.6 : VDS Certificate
Mushak - 6.7 : Credit Note
Mushak - 6.8 : Debit Note
Mushak - 6.9 : Turnover Tax Invoice
Mushak - 6.10 : Purchases/Sales valued 2 lac + Taka
Mushak - 9.1 : Value Added Tax Return
Mushak - 9.2 : Turnover Tax Return
Why Companies Need Vat Software?
All of a sudden, Companies may wonder why they need VAT Management Software after 30 years of manually reporting VAT in paper-based documents. In detail, there’s a two-part answer to the question.
INTRICATE CALCULATIONS MADE EASY:
The process of calculating VAT is quite complicated. The business has to be paid taxes after added value on different steps of production and distribution segment. Similarly, there are some different rules applied on tax calculation for raw materials, finished goods, and on work in progress section. For some reason, the company has to buy same raw material from different suppliers, such as a furniture company buying the same Mahogany wood from different sellers at different prices, in this case, tax calculation would be different in each segment. For this reason, the VAT estimation will be difficult to manage. For instance, SmartVAT Management Software can make the process much more easy, quick, and effective.
RECORD KEEPING AND TRANSPARENCY:
In our country, they are not well trained to calculate the value of recording for keeping goods/services convention. Hence, when NBR willing to see detailed records of any transaction, companies failed to provide those reports. In these situations, VAT software gives strong support for all businesses. Meanwhile, companies can provide each transactions reports as they recorded properly in the system so, the business doesn’t have to worry to provide reports if they faced any audit in the future because the system provided the authentic reports accordingly.