Why automating tax management?

Controlling maturing taxes, paid ones, credits: specificities of each tax; whether they are federal, state or municipal; gathering documentation to submit it to regulatory agencies… How long does your team spend to comply with company tax obligations manually, across tables?

Hours or even days of hard work, so that everything complies with requirements, terms or double payment is prevented. The week before tax audits or document submission in SPED is a synonym for stress and overtime work, so that everything is organized.

However, it doesn´t have to be like that! Because, as tax management is automated, manual work is no longer required, and it is replaced by quick tax obligation control.

Would you like to understand a little bit more about how it works? This article is for you!

Everything in one place

The taxes a company has to pay rely on several factors, including the activity performed, the city CNPJ is registered, and even the company size. However, controlling these variables manually demands huge efforts. As a supplier is changed, for instance, more than one taxation can change.

As tax management is automated, such information control in SAP Business One becomes quicker, as it is not necessary to exit the system, execute the operation and add the new stage in the system again. All operations will be processed within the tax module natively integrated into SAP.

Cash flow predictability

As payable tax value is calculated in each obligation separately, the company might lose perspective, and not consider some debit or make errors in aliquot percentage calculation. Thus, accounting may only have an estimate of the financial amount to be spent with tax obligation compliance.

Gathering all such information in a single system and having checking reports to follow, accurately, every tax debit and credit is what automation provides. What is more, aliquot percentages and regional fee variations will be automatically available, preventing errors, penalties and the need for corrections.

All that generates a macro view concerning how much companies have to spend with tax obligation payment, preventing surprises and enabling cash flow to be kept in the black.

Other advantages

A tax module linked to SAP Business One can also add the following practical benefits to professional routine:

• Tax book and primary and ancillary obligations simple, safe and transparent issuance;
• Tax data analysis customization and simplification;
• Electronic invoices (NF-e and NFS-e) issued, received and stored automatically;
• Safer and more convenient digital tax coupon issuance to companies;
• Tax automated calculation for invoice issuance;

• Tax document automated validation and management before Treasury.

Therefore, agility, productivity and life standard at work are provided to teams, as activity volume, rework and stress load are also decreased.

One step away from automation

Apart from every benefit mentioned above, it is worth noting that tax management tools assure data confidentiality, ensuring its integrity and compliance with LGPD standards.

The SAP Business One native tax module, like TaxPlus, is capable of registering every tax obligation, integrating company data in a single place, optimizing business management and other essential procedures to business controllership.

Do you have any other questions? Contact and Invent and learn how to take companies to clouds and generate even more value.