Get expert assistance to make sure your financial records are accurate and up-to-date with VBOOKS’ professional support
- Maintain a well-structured chart of accounts to efficiently track financial activities in your general ledger and add a sub-account under an asset, liability, equity, income, or expense category as your business changes
- Manually record one-off transactions including adjustments, asset depreciation, bad debts, and accrued expenses using journal entries. This tool is what lets you demonstrate these unique receivables and payables from operating activities apart from regular sales or purchases transactions
- A very effective method to control assets is through the use of VBOOKS. As the software is now able to automatically calculate depreciation, it is time to automate this task, besides tracking the life of an asset, disposing of or making decisions based on comprehensive reports with the information
- Choose Profit Margin Scheme in VBOOKS to calculate VAT only on the profit amount, rather than the total sale price with VAT included. This system is particularly important for companies dealing with second-hand goods, antiques, and old collectibles
- Fix fluctuating exchange rates with a VBOOKS base currency adjustment. Single out the profit or loss from the foreign exchange deal and make sure that all the financial info is intact
Tax Compliance
- Skilfully regulate corporate taxes with VBOOKS, a venture facilitated by FTA compliance accounting software, the company allows you complete access to a module dedicated to generating your corporate tax report for the year by a single click
- Guarantee VAT compliance with VBOOKS by automatically doing correct VAT classifications of your sales and purchase transactions as you create them
- VAT returns and audit reports will be available for the company in full compliance with The Federal Tax Authority (FTA) standards and specifications using VBOOKS, which will enable accurate and smooth tax filing
- Choose Profit Margin Scheme in VBOOKS to calculate VAT only on the profit amount, rather than the total sale price with VAT included. This system is particularly important for companies dealing with second-hand goods, antiques, and old collectibles
- Fix fluctuating exchange rates with a VBOOKS base currency adjustment. Single out the profit or loss from the foreign exchange deal and make sure that all the financial info is intact