SYKES offers a comprehensive reporting suite which is completely flexible and customisable to meet client and government requirements and includes items such as:
- Transactions in/out and inventory movements
- Bank account and merchant reconciliations
- Profit & Loss and Balance sheets
- Audit trail
- VAT Returns
- Risk Management
Trading within one country in Europe brings with it the need to satisfy local VAT rules and procedures. Doing business across several countries in the region multiplies the complexity many times, as well as financial and legislative risks.
SYKES addresses the needs of clients by providing a service that satisfies local and distance selling rules. Within this set-up, different rates of VAT are applied to goods and services sold, VAT is included when payments are collected, and VAT is reconciled and settled with the relevant country’s VAT authority.
The solution is so comprehensive that VAT reporting forms and requirements are satisfied, Intrastat reporting is provided and Customs audits are managed.