I am already reporting VAT via SII ... now what?

What next?

Now that we have implemented the Immediate Information Supply (SII) process, we have seen that many shortcomings have arisen in the process of both AP and AR. The tax report, as it was presented on a monthly basis, in many cases by hand, allowed via the consolidation of operations to report without apparent incidents.​

With the SII's requirement to report operations singly and online, many of our clients have verified that the orginal information is not always correct.​

In some cases, quick fixes have been made to prior processes, not always conventional, to obtain the information with sufficient time to report to the Tax Agency without risk of penalties.​

easyap, with the experience gained from the reporting of more than 8.5 million operations in the first 10 days of SII, has found that not all processes are sufficiently automated. Events such as:​

- CIFs incorrect or not registered​

- Maintenance procedures (deregisters and modifications) of operations not sufficiently standardized or automated.​

- Interfaces between systems

- Feedback from the information from AEAT confirmation​

- ...

The requirement of the Tax Agency represents a significant leap in the level of automation of the accounting and tax departments. This change is certainly laborious, but it permits the development of important administrative processes that in many companies have a more manual component than desirable.​

Now what? …. Having already adapted the tax process for Tax Agency reporting, why not work on improving the prior processes?​

  • Streamlining and automating the received invoice process will allow us to reduce the creditor and supplier accounting cycle of creditors, saving and increasing productivity.​
  • Evolving customer billing processes to electronic invoicing procedures will lead to savings, as well as a decrease in the volume of payment incidents.

In addition, the improvement of these processes will lead to a SII process that is more agile and less traumatic.​

Below are some initiatives, from some of our earlier blog posts, which should be considered, once you start to rethink your accounting processes:​

At easyap we are carrying out awareness-raising initiatives that allow our clients to safely face the challenge of adherence to the regulations​

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