VATRAX is an end-to-end VAT exports compliance software solution that automates and controls the VAT export compliance process.  It recognises that VAT export compliance is more than just producing the relevant documentation and therefore addresses all the issues faced by clients at every stage of the VAT export compliance process.

The Imperative for VAT export compliance software

The intricate requirements of South African VAT Legislation, and its growing complexity and stringent enforcement, make accurate and reliable VAT information imperative for all organisations.  Tax managers, accountants and financial directors are well aware of the responsibility involved in preparing company VAT returns.

Key Features:

• Simple and easy to use
• Single, comprehensive tool
• Workflow incorporates early warnings of outstanding compliance documentation
• Notification of non-compliant expired invoices
• Up to date risk status

Interfaces with other systems

VATRAX collects data electronically from financial systems, so eliminating the tedious work normally involved in getting data to its final destination, and offers the luxury of integrating your data collection system with your data usage. 

Integration with electronic mailing systems offers notifications automation and automatic escalation of overdue tasks.  Key management information can be distributed without any manual intervention.

Benefits for the company

• VATRAX should manage the risks associated with a vendor's VAT export compliance processes. 
• VATRAX is flexible, so as to cater for an entity's individual set-up and risk profiles. 
• VATRAX can import invoice, payment and credit note information from the entity's accounting system, using the information as a basis to manage zero-rated and export transactions. 
• The VATRAX built-in workflow capabilities ensure that users will at all times know the status of VAT export compliance.  VATRAX will notify the relevant people via e-mail of outstanding documents or information, so that action can be taken timeously.
• An archiving facility ensures historical information will be available electronically should this be required to attend to internal or SARS queries. 
• The VATRAX security features allow user access to be controlled. 
• VATRAX's reporting processes enable companies to have accurate up-to-date VAT export information for management reporting purposes including potential VAT exposure relating to zero-rated export transactions. 
• Deloitte & Touche Tax Technologies will support the product and will provide the Company with updates to the software for changes in VAT legislation.  Comprehensive training will be provided to all users and user support will be available telephonically (0800 help line), by e-mail or on-site support.

Key features

• All modes of transport (Road, Air, Rail, Ship, Post)
• All Ports of exit
• Export Countries
• INCO Terms (C, D, E, F)
• Direct and Indirect Exports
• Cartage Contractors
• Export Agreements
• SARS Rulings
• Cater for zero-rated goods and services
• Foreign Exchange
• Regular Customers
• Import Invoices and Payments detail electronically
• Export Data electronically
• Scanning of documentation
• Output and Input Tax adjustments
• Validation of VAT registration details
• Customise automation by Entity, Customer, Ruling and Export agreement
• Multiple Entities
• Full Security
• Audit trails and historical information
• Automated Escalations
• Built-in Workflow
• Windows look and feel
• User notes and comments by invoice
• Various Reports 
• Direct electronic link to Deloitte