How does our software calculate Returns
After completing your VAT registration, it's time to start paying your VAT. Our software helps calculate and prepare VAT returns, which are then filed with the Tax Authorities.
VAT Return Calculation Process:
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Account Setup:
Once your account is successfully set up, our software will begin pulling your sales data.
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Data Processing:
The data is processed according to mandatory Tax office guidelines, ensuring accuracy before it is transferred into reports for different countries.
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Report Generation:
Based on your software settings, VAT reports are generated, and the VAT to be paid to the Tax Authorities is calculated.
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VAT Return Notification:
When the VAT returns are ready, you'll be notified via email, and the return will be available in your Hellotax software account.
For more details, check out this video on how to use the VAT return portal.
Steps to Ensure Correct VAT Calculation:
To ensure accurate VAT calculations, make sure that:
- Your account is connected to your Amazon store (for Amazon sellers).
Watch the instructional video here.
- If you're not an Amazon seller, upload your sales data on time using the Manual Order Upload.
Find related articles here.
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Correctly enter VAT IDs into the system.
Ensure there are no errors in your software that could affect the report accuracy.
Watch the Daily Software Check-up video for guidance.
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