What is it?
Deloitte’s Abacus VAT software is a new addition to the suite of Abacus solutions and is built using the market leading Abacus technology.
Abacus VAT is a comprehensive solution incorporating end to end automation of VAT compliance. It starts with a link to, and automated upload from, the source accounting system, progressing to an automated analysis and exception reporting engine, and finishes with automatically populated VAT work papers and VAT returns.

What makes it special?
The software covers VAT filings across the EU, and can also automate European sales lists filing. The technology is also enabled for e-filing.
Abacus VAT includes comprehensive risk management processes including protected system formulae and a full audit trail and track changes functionality. There are a number of standard tests to provide automated checking of data including:

• Standard rate not applied on domestic purchases
• No self-assessment on EU acquisitions
• Duplicate invoices
• Standard rate not applied on domestic supplies
• EU sales with no VAT registration number

Full prior period and prior year comparative figures are also included, and users can also create bespoke tests on the data captured in Abacus VAT.
The software also includes a range of work papers to support the return enabling the user to make adjustments to the accounting system  figures in a systematic and visible way.