The ambit of VAT is not limited only to tax calculation; it is also expected to change the way that millions of enterprises in the UAE do business. Every taxable entity registered under VAT has to file returns online every month or quarter depending on the nature of their business. From a compliance perspective, businesses that work with automated software in any way will need to update their tools to incorporate the new VAT laws. This update will affect your sales operations, accounting methods, and expense management systems, so you need to be confident that you are VAT-compliant in all realms of your business.
Keeping pace with the coming changes, we’ve made Zoho Books VAT-ready. Besides managing your business finances, we help you capture your contacts’ VAT details, raise VAT compliant invoices, create business reports, and generate VAT returns with your Zoho Books account at no additional cost.
Here’s what you can look forward to:
A cloud platform that runs your entire business
Whether you’re using your phone or your computer, Zoho Books lets you stay top of your finances. It ensures that you and your collaborators are working on the same data, wherever you are, whenever you want.
A customized Zoho Books edition for the UAE
Zoho Books is carefully crafted with the requirements of UAE businesses in mind. With the upcoming VAT regulations, businesses need to be perfect in every transaction they perform. With Zoho Books, you can use VAT treatments to mark a customer as VAT registered, Not VAT registered, or Non-GCC customer. You can also select the VAT that applies to each goods or service, mark goods as excise or services as digital, and record the Place of Supply for every transaction. At the end of every month or quarter, depending upon your business scenario, Zoho Books generates your VAT Summary Report with just a click of a button.
Get paid the fastest way!
Zoho Books is integrated with trusted payment gateways like PayPal and 2Checkout to help you accept online payments for your invoices. This further automates your cash flow and bookkeeping, ensuring fast and hassle-free payment receiving. Just email your invoice, and when your client makes their payment, that information gets automatically updated in your bank records.
Invoicing that’s VAT compliant, yet customisable
Did you know that there are 11 distinct details that a VAT-compliant invoice needs to include? Taking care of all pieces of data along with managing your finances can feel a bit overwhelming. What if you had a system that already knew your contacts’ VAT details, your item information, the discounts applied to each item, and the VAT rates to charge and created an invoice based on this information?
With Zoho Books, merely select a customer and an item while raising an invoice, and we will auto-populate the invoice with the required information. Oh, and you can still design your invoices to reflect your brand.
40+ insightful instant reports
Making informed business decisions based on accurate, real-time data to optimize your transactions is a crucial part of running a business. Zoho Books lets you generate and share financial reports like VAT Summary Reports, P&L, Balance Sheets, and Cash Flow Statements instantly. You can also schedule reports to get insight into your finances on your own schedule.
Add more hours to your day
A smart software should work behind the scenes to help you save time. Zoho Books offers several ways to reduce and even eliminate data entry. From auto scanning receipts to sending out automated reminders and downloading transactions from your bank account, Zoho Books saves you time at every step.
Guaranteed data security
More than 30 million users access Zoho’s services. Individuals, small businesses, and medium to large organizations all depend on Zoho security and data protection to keep their financial information safe. We take security very seriously and have developed a broad set of practices, technologies, and policies to ensure your data is protected. Read more about Zoho’s Security Policy.
Still on the fence?
With VAT, compliance is no longer an option, it’s a necessity. The monthly or quarterly return filing cycle requires businesses to be tax compliant from day one. Businesses need to embrace technology for three primary functions: accounting, maintaining transactions, and VAT filing. The hard way to accomplish this is to use multiple pieces of software and keep a constant eye on your data security.
However, there’s a much simpler solution. Zoho Books, along with managing your business accounting, keeps you VAT compliant, keeps track of all your transactions, and lets you generate VAT returns — all in a single app. The icing on the cake is the pricing — Zoho Books starts at just AED 29 per month per organisation, and you can try it free for 14 days before you sign up. Read more about Zoho Books pricing.
Switching to Zoho Books to maintain your VAT accounts can save you a ton of work, free up time to focus on improving your business, and give you the peace of mind of knowing that you’re VAT compliant.