Our Indirect Tax Logic (ITL) determination tool provides a comprehensive solution to Indirect Tax determination within SAP and Tax Automation software. The tool consists of three elements: unique state-of-the-art determination, one single source of truth, and practical and complaint VAT accounting. Indirect Tax determination can be complex, and an out-of-the-box ERP system like SAP has its limitation. Tytho ITL can offer a user-friendly solution that integrates into your SAP system, delivering accuracy that standard SAP cannot without additional tax parameters. Furthermore, Tytho ITL stores all relevant Indirect Tax data in one location, aligning sources to provide one transparent overview. Lastly, Tytho ITL is a sustainable solution: addressing ERP system errors with long-term solutions.
Our tool executes the VAT number check - that is required by EU law to ensure that the VAT numbers of your customers and vendors are correct - within SAP; thus eliminating the need to go via the VIES website. The Tytho VAT number validation tool has three functions. Firstly, it can check the VAT numbers as they are added to the customer or vendor master data. Secondly, it can run a report based on a select range, which compares the data in SAP with the VIES database. This report reviews the VAT number, company name, and company address, storing the results in SAP to ensure you have a proper audit trail. Thirdly, it can include a check within the transactional process, for example during invoice creation. In conclusion, instead of using time and resources to manually check master data, allow Tytho to provide the solution to your VAT number validation process.
Our Indirect Tax Logic (ITL) tool offers a third type of tax code (standard SAP only offers two types of tax codes), which is non-jurisdictional tax codes with validity periods. In fact SAP's limited number of tax codes, 1296 to be precise (without special characters taken into account), make Tytho ITL validity periods a valuable tool. The implementation of our product allows the user to have a start and end date on every tax code, reducing the quantity and increasing the accuracy of the tax codes used. This tool reduces tax code maintenance costs, whilst allowing for configuration of complex multi-rate codes and more.
Download our whitepapers to find out more or visit our site to discover what else we offer http://www.tythoindirecttax.com/.