Ten reasons why…
Taxmarc is the right choice
Do you get worried when the government is announcing a VAT rate change because you know it will require a lot of IT work in your system to set up a new tax code and change condition records as well as training your accounting staff to use the right taxcodes for every transaction.
With the Taxmarc Taxcode solution, setting up a rate change is a walk in the park and can be done at ease, ahead of the actual activation date. Your tax codes never change, and your accounting staff continues operating as normal. Taxmarc will make sure the appropriate rate is selected.
Do you find yourself coding Vlookups in massive spreadsheets containing data dumped from SAP at the end of every month to validate that the transactions linked in one flow have appropriate tax codes. For example, in an ABC you do not book an intracommunity supply for both legs
The Taxmarc logic always considers all documents in a flow and makes sure the taxcodes between the various postings that are part of the same flow are coordinated
Do you know more about SAP documents and document flows than you ever wanted to know? Because when there is an incorrect tax posting you need to wade through the system to find all related transactions and find the source and destination of the goods, check registrations etc.
The Taxmarc overview screen (part of the Tax control framework) brings all the necessary information for tax determination of all documents that are part of a flow into one screen, no matter what document of the flow you look at.
Do you have to rely on your order entry staff to manipulate orders purely to meet indirect tax determination in SAP?
The Tax Control Framework takes away the need for your order entry staff to know about indirect tax rules. All the parameters needed are taken from the regular data normally already entered in a sales or purchase order. If any specific tax data (like import indicator) is missing, the user will be prompted to enter it.
Do you end up with a lot of incorrect tax postings in your finance systems because orders or POs were entered without information needed for tax determination.
The Tax Control Framework will allow for incomplete orders to be saved but they will be put on hold so they cannot mistakenly be processed further when the transaction is not allowed.
You think certain flows are not posted in your system because they are not allowed based on your company's tax registrations, for example. But you have no easy way to check.
The Tax Control Framework will immediately block the order if one of these invalid transactions is entered and you will be notified.
The Taxmarc Intrastat module will guarantee that your VAT financial postings are in line with your Intrastat reporting. The reconciliation report included will allow you to match the two.
Does your invoice print program contain complex logic to determine the right Customer and Company indirect tax registration to be printed on your invoice and you still send out incorrect invoices.
Taxmarc will determine (and store) both the correct customer and company registration as part of the Tax determination, thus guaranteeing the registrations on your invoice are in line with the Tax treatment selected
Do you apply the 0% Intracommunity supply rate purely based on trusting the VAT registration number provided by the customer and entered in your system maybe 5 years ago is (still) valid.
The Taxmarc indirect tax validation module allows you to check the indirect tax ID registration provided by the customer against VIES or the applicable country registration database. Proof of the check is recorded in the system for audit purposes. The check can be scheduled on a periodic basis to make sure you stay in compliance.
Do you not worry about generating self invoices for cross-border movements within your company because they are too difficult to keep track of.
Taxmarc will make sure a self invoice is generated for all cases where one is needed and determine the correct input and output taxes on the document. The self invoice will also be included in both the intrastat dispatches and receipts when applicable (based on the taxcode used).
This confirms the technical compliance of Taxmarc with SAP development principles and guidelines.