MTD for Infor SunSystems

 

A solution exclusively for Infor SunSystems clients to meet their Tax Digital needs for VAT

From April 2019 businesses above the VAT threshold will be mandated to keep their records digitally and provide quarterly updates to HMRC for their VAT. HMRC’s draft guidance introduces new VAT record keeping rules and the requirement that all applicable VAT return data is digitally linked so that transactions can be traced from source data (i.e. purchase/sales ledger) to VAT return completion and upload.

 

Businesses should be preparing their systems for full MTD compliance now.

 

What Professional Advantage are doing

Based on the successful BAS Interface for the Australian Tax Office, which was launched in 2000, Professional Advantage are seeking to develop an HMRC compliant solution called MTD for Infor SunSystems.

 

Professional Advantage is launching this campaign, in conjunction with our business partners, to ascertain if there is sufficient firm commitment from within the Infor SunSystems user community for an automated link to HMRC to address the need to digitally file VAT Returns.

 

About MTD

MTD will automate the link between Infor SunSystems and HMRC. The solution will enable Infor SunSystems to export data to the MTD avoiding the need to re-key data and the risk of errors. It will also maintain the link between the data provided to HMRC and the source transactions. The key benefit of MTD, over Excel spreadsheets, is that it is fully auditable and eliminates costly errors.

  • Transfers Infor SunSystems data into the MTD VAT format
  • Electronic return passed into the secure HMRC API automatically 
  • Provides an audit trail of previous VAT Returns and associated transactions 
  • Caters for multiple business units or groups of companies 
  • Caters for multiple Infor SunSystems databases 
  • Posts journals back to the Infor SunSystems VAT credit account 
  • Can be used to submit monthly, quarterly or yearly Tax Return statements, depending on requirements
  • Allows for the storage of non VAT related information required to be reported on the Electronic Tax Return
  • Has the ability to store data that is keyed in from other systems, used for the production of the Return e.g. you can track your liability in another system and then enter the summary information into MTD 
  • A single process will extract and complete all the data directly into MTD
  • The MTD archive feature means that for each reporting period, it will provide a listing of all transactions from a particular submission. This is a full historical audit trail from SunSystems to HMRC
  • The process is automatic. A client could reduce the preparation, report running and record keeping time by 3 to 6 hours per reporting cycle
  • The MTD solution is an automated business process. An automated task saves time, reduces clerical error, eliminates a boring task while saving costs

 

No Risk

By committing funds to this campaign, you will be making a pre-purchase of software licence(s) for the new module. These funds will then be used for development of the new module with an eta of October. Development will proceed only if there is sufficient firm interest shown by the Infor SunSystems community.

 

PA reserve the right not to proceed with the development of the MTD solution. Should this decision be taken, all monies paid by you will be refunded to you.

 

The benefit to you is that through backing this initiative, you will be receiving an "Early Bird" 50% discount on the standard licence and maintenance cost. You will be invoiced for the maintenance component post software release. Support for this module will be provided by PA directly, or your PA Business Partner upon agreement. Prices will revert to RRP post release.

 

Next Steps

Become part of this exciting launch of a new Infor SunSystems module with no financial risk.

 

Download the Order Form. You will then be billed for the initial software purchase only. Maintenance will be billed post release of the module.

 

Beta volunteers are also welcome! Contact us if you would like to be one. We are happy to answer any questions that you may have.

Downloads & Resources

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