The update comes with new features to ensure accurate VAT returns
In the run-up to filing tax returns, businesses in the UAE can now upgrade to the latest version of Tally.ERP 9. The recently launched version, Tally.ERP 9 Release 6.4 targets to simplify VAT filing and make the entire process easier and more effective. Businesses across sectors are urged to upgrade to the latest VAT-ready software.
With Tally.ERP 9 Release 6.4, businesses will have an opportunity to generate and file VAT returns with confidence. While they will be able to define tax return as specified by the Federal Tax Authority (FTA), the latest version will also allow a “tax computation analysis”, which will offer businesses a complete overview of all transactions and taxes before generating the return. The VAT tax computation and analysis report available from the software, identifies transactions which have been included or excluded in the return, the total amount of tax to be paid and refundable amount if paid in excess, eliminating any misses or discrepancies.
“Tally.ERP 9 Release 6.4 is designed with a user friendly interface and simplified statutory compliance. The latest version of the software represents an important advancement in the way functionality is delivered to businesses in the UAE. Our efforts are to provide complete peace of mind to the business owners, by including features like allowing them to review a summary of transactions before generating the return, and highlighting any errors in mismatches. The solution is easy to use and implement, and provides new features which will empower businesses to file returns easily,” said Vikas Panchal, Business Head at Tally Solution in the Middle East.
Additionally, Tally.ERP 9 Release 6.4will automatically detect errors in case of tax mismatches, wrong TRN numbers or missing tax components. This feature will help businesses correct and make changes immediately. Businesses will also have the freedom to generate VAT returns in PDF format. Tally.ERP 9 Release 6.4 supports the latest VAT return format as specified by the FTA of the UAE. Furthermore, the software will save returns in the user’s system, which will help identify any changes made on the saved return period to allow revisions, if required.
Businesses will also be able to mark transactions with reverse charge applicability, and transactions for which VAT at customs has been paid. The businesses thus, have the opportunity to track reverse charges and Input Tax Credit.
The price of this product continues to be same as before i.e. AED 2,340 for a single user edition and AED 7,040 for a multi-user edition. However, most of Tally’s existing users will be able to upgrade to this release free of cost. Trusted by more than 1.3 million businesses globally, Tally Solutions includes a list of more than 50,000 satisfied clients across the GCC. Consistent with past product development efforts, the design of the Tally.ERP 9 Release 6.4 is driven significantly by direct input from Tally’s users.