iVAT Engine Integration

the iVAT Engine integration is the integration of our iVAT Engine software with your own accounting system(s)

  • the iVAT engine is our VAT determination software with integrated, advanced VAT reasoning (i.e. identification of the customer and supplier, the supply of goods or services, who is liable to pay the VAT, whether VAT should be charged and the applicable VAT rate)

    • it works on the basis of transactional and other (master) data

    • it is a database with relevant information on rules and exceptions (e.g. whether a local reverse charge rule is applicable or not)

    • it maintains a code for all theoretical relevant transactions (which includes all the relevant VAT formalities) and covers the EU countries, Switzerland and Norway

  •  the integration can be static or dynamic :
    •  off-line : iVAT Condition table integration
    •  real-time : iVAT Engine integration

iVAT condition table integration

  • the iVAT Engine will generate a “condition table” with a corresponding (generic) iVAT tax code
  • the completeness and accuracy of the generated condition table is based on the available and chosen data/parameters
  • the iVAT tax code can be mapped with the company tax code
  • the condition table is imported in your accounting system and ready to be used automatically without any further intervention
  • the condition tables can be generated and updated upon request or can be scheduled to run periodically
  • has the following advantages:
    • does not interfere with the set up and/or reporting of the accounting system
    • prevents you needing to maintain the accounting/ERP condition tables yourself
    • more accurate and complete as the table is generated automatically by an engine
    • the accounting system remains the “source of truth” and SOX compliant

iVAT Engine integration

  • the accounting system will send XML documents with all the relevant data to the iVAT Engine
  • the iVAT Engine will determine the tax treatment of the outgoing and/or incoming transactions
  • It will send an XML document back with a tax code and all other relevant information
  • the XML documents can be used additionally for electronic invoicing
  • the iVAT Engine will be installed on the company’s server
  • the accounting/ERP condition tables will be not used anymore
  • the accounting system remains the “source of truth”
  • the accounting/ERP reporting features will remain applicable or can be expanded by iVAT reporting (see next page) to fully realize an end-to-end automation
  • if different accounting systems are applicable, each system will be interfaced to the iVAT Engine