When it comes to your sales taxes, it goes without saying that you want to make sure you're paying the right amount of tax and not a dime more. Syft's Review feature set gives you the power to review your VAT/GST transactions to ensure that there aren't any transactions that have been miscoded.
In the past months, we have made several changes to the Review tool and the VAT or GST section was next in line for a revamp. The recent updates to the VAT/GST Review tools ensure a more streamlined experience of using these features, from a neatened up sidebar to a more succinct view of your accounts and transactions.
What's new 🧐
Our latest updates include the following:
Enhanced sidebar: to improve the navigability of the tool, dividing the sections into Tax Review and Tax Report, with all subsections selected at the top of the screen.
Tiles at the top of the screen: to provide information at a glance.
Drop-downs in the Tax report: for various sections and you can toggle between input and output tabs to zero in on the relevant information.
Moreover, if you navigate to the multi-period view at the top of the page, you have the option to view metrics as an amount or as a percentage. Once you've selected percentage, remember to expand categories to see an account-by-account-level breakdown and isolate the accounts you'd like to investigate.
Closing thoughts 💭
With the improved navigation and tools to easily gauge exactly what's going on in your input and output tax accounts, it's never been so easy to review your VAT or GST. I hope you will make the most of the new features available and ensure that your sales taxes are in order.