If you pay more than 20,000 supplier invoices each year and you manually input and calculate invoice VAT line items, then you are very likely making VAT errors. Neither current accounts payable processes or manual checks can fully protect against them but VAT Checker™ can.

VAT Checker™ module is part of FISCAL’s AP Forensics® software suite and identifies a wide range of VAT errors in accounts payable data. It is easy to use and is designed to be run on a daily or weekly basis to prevent errors and fraud.

VAT errors are primarily caused by incorrect supplier invoices, input errors, VAT miscalculations and misallocations, and multiple changes in VAT levels. The reasons for this are wide ranging, from human error to poor processes, controls that can be overridden and the fact that accounting systems can only carry out basic checks. The problem gets proportionately worse as the size and complexity of an organisation increases, regardless of how good its Accounts Payable (AP) processes are. VAT Checker™ carries out multiple checks on invoice header amounts and line items before a payment run. It then generates a number of reports to help identify errors, improve processes and increase control.

VAT Checker™ includes:

• A series of AP checks
• Tests against multiple VAT rates
• Analysis of header and line items
• VAT check on credit notes
• Multiple exception reports
• Direct imports from Duplicate Payment Finder™ module
• Data import validation
• Option to include European rates

Working alongside the existing modules of FISCAL’s AP Forensics® Suite, VAT Checker™ provides the extra level of protection needed by large organisations. Most accounting systems only carry out basic checks but using VAT Checker alongside their existing system allows organisations to increase their AP control, cut costs and reduce risk and fraud. VAT Checker can be used retrospectively to interrogate several years of historical AP files across several business units but more importantly, used on a daily or weekly basis, it helps prevent VAT errors from happening again. As an accounts payable audit tool, it not only saves valuable AP time and effort and the cost of recovering under-claimed VAT, but it also improves invoice management processes and protects precious working capital.

How It Works

VAT Checker™ identifies potential errors in accounts payable data using proven check algorithms and sophisticated pattern-matching techniques. These are constantly refined and FISCAL has used similar techniques to process millions of transactions over the last 7 years across hundreds of organisations.

• Management Reporting - The software generates a report of potential VAT errors you are about to make, or that you’ve already made.
• Process Improvement – using a unique system of identification, VAT Checker™ highlights improvement that can be made to AP processes.
• Any Accounting System – The software works with any major accounting system. 
• Less Than 1 Hour Per Week - The easy-to-use menu options provide a step-by-step guide and the whole process often takes less than an hour to complete each week. It can be used daily, weekly, or monthly.
• For Any Budget - Depending on your organisational requirements, VAT Checker™ is available in three versions: Express; Business; or Enterprise.

Immediate Business Benefits

VAT Checker™ has been designed to be used by any finance professional almost straightaway. It can be set up to work within any Accounts Payable process in under a day and delivers the following benefits very quickly:

• Increases AP control
• Cuts VAT over or under spend
• Supports compliance
• Immediate payback
• Reduces risk and fraud
• Prevents errors from happening
• Improves cash flow
• Raises profitability

Technical Specifications

VAT Checker™ uses Microsoft Access and SQL Server to save all processes, reports and core AP data. It supports Microsoft Access 2000, 2002, 2003, 2007 and Microsoft SQL Server 2005 and 2008. It also works on Citrix servers that support Microsoft database solutions.


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