Value Added Tax—the one word somehow manages to get us scared, though we know it’s something that we can’t skip that easily, especially when we’re running a business. But can we entirely blame ourselves for counting it as a fear factor? Thankfully, things are on the verge of change with the best NBR Approved VAT Management Software Solution now becoming available at your disposal.
The world of taxation has never been an easy alley for people all over the globe to walk on. The same goes for the people of Bangladesh as the National Board of Revenue (NBR) has implemented a very rigid VAT policy for all businesses. But they have also come up with a list of approved VAT management software that can ease the process.
The question is, how is it going to make things better? And why do you need a NBR Approved VAT Management Software to manage VAT without using traditional papers? Well, that question of yours is just about to be answered. All you need to do is scroll a bit down.
The Need of NBR Approved VAT Management Software
It’s nothing but human nature to look into the need first before laying their hands on getting anything, and the psychology doesn’t change when it comes to getting a VAT software as well. But as in this modern era, where VAT and taxation are given utmost priority, missing out on VAT software might make an organization lag behind. After all, a good VAT software can put the following advantages on your turf easily.
100% Compliance with VAT & SD act 2012
One of the basic needs that back the implementation of any VAT software in Bangladesh is total compliance with the VAT & SD act 2012. After all, the VAT processing has to be executed abiding by the VAT act, right? That’s why most of the organizations used to get the job done manually, as the whole thing is a bit ‘sensitive’ and any mistakes can lead to legal consequences. But an NBR-approved VAT software makes sure that none of the rules are being violated and the also the NBR is getting all the VAT-related reports they need to have in their database of a certain organization.
Configurable Modules
One of the common things about the best VAT management software is it comes with configurable modules that ensure complete operational flexibility. This means no matter what kind of business you’re running, it can still help you out with the VAT return process without compromising the accuracy.
Highly-secured and Cloud-based
Indeed the VAT and Tax information is one of the crucial parts of any organization. But when the data is being protected in cloud-based VAT software, the user can lean back and relax by counting the VAT data is perfectly secured.
Error-free
There’s a saying – ’To err is human’. But nobody said that about any good VAT management software as that’s built to make no mistake. When people execute the VAT & tax return process, there’s always a chance of mistakes. But a VAT software keeps the return process error-free and automated.
Process Alteration
The thing about VAT & Tax rules is there are often minor changes taking place every now and then. But rather than sticking to any rigid policy, VAT software makes sure that you’re getting complete freedom to process alterations as per the change in rules or tax cut.
Real-Time Data
When you’re stuck in the world of paperbacked documentation, it’s hard to find out the real-time data within a short time. On top of that, you don’t have all the day to dig into that pile of papers just to find out a single number. Well, count that hassle over when you’ve got a VAT software to take care of that part. One or a few clicks are enough to get you any real-time tax data without making you wait too long.
Cost-Efficient
Who doesn’t like that concept of saving a few bucks in their business? We bet you do too. When you’ve got VAT software taking care of all your VAT data and processing system, you don’t need to worry much about wasting extra cash on papers or any additional manpower to take care of the stuff.
What is Prime VAT is offering regarding VAT Management Software?
Clearly, when you realize the Importance of VAT Software, the next thing you’ll look for is the best possible option. Don’t worry; you won’t have to roam around for too long once you get something like Prime VAT on your hand. But why are we calling it the best NBR Approved VAT Software in Bangladesh? Well, because along with getting you all the benefits we’ve just mentioned above, Prime VAT can pull off some other major benefits for you.
1. VAT Management of multiple branches
Prime VAT solution is developed in the most dynamic way to maintain multiple branch of retail businesses as well as numerous Business Identification Number (BIN). As the latest NBR approved VAT management software, it has all the necessary feature to simplify your business VAT management.
2. Detailed reporting with total transparency
You can prepare a detailed report on Prime VAT with total transparency of your business data such as sales, purchase, inventory value, production, raw material purchase related transactions, VAT declaration, return, exemption calculation etc.
3. Minimizing time consumption and effort investment
With Prime VAT, you can automate your VAT management, Mushak challan preparation, file management, calculation and every aspect of your business taxation. This will reduce your employees effort and save time so that they can be more productive with other tasks.
4. Single click Report Generation in All Formats
User-friendliness is one of the biggest advantage of Prime VAT that stands it out of all the other VAT management software in Bangladesh. You can prepare any Mushak form with just one-click. The preformatted challan will be prepared with your data input and will be stored in our cloud-based server with advanced data protection.
5. Highly convenient for performing data migration
Are you thinking now about migrating all your VAT-related data from another server or solution to Prime VAT? The data migration process is excessively smooth and hassle-free. You will not face any inconvenience while performing a data migration operation.
6. Automatic data backup backed by restoration facility
Never lose your valuable and sensitive business data with Prime VAT. In case of any accident or natural disaster, the system uses world famous Microsoft Azure server that comes with multiple layer of data security with restoration facility. Your data will be recovered from backup servers without any stress.
7. Integration with Third party Application
Prime VAT supports advanced integration facility using API with any 3rd party application like accounting software, inventory software, ERP software, production management, warehouse operation management, point of sales and many more functional tools in order to reduce data-entry efforts.
Conclusion
Getting an NBR Approved VAT Management Software Solution is considered a smart move these days. And why wouldn’t we call so? It’s saving you tons of time, money, and mostly, the hassles of extended processing. So, it’s better to transfer your hassle through VAT software and get ease in return.
