SmartScan is a new and unique smart automation system to assist QuickBooks’ customers file their VAT return accurately. It automatically checks your VAT figures and scans your return for common errors, duplicates and anomalies, thereby reducing the monotonous audit checks that are sometimes needed. You can view the SmartScan dashboard before submitting your VAT return to be confident that it will catch any mistakes made.
It scans all transactions in the current VAT period for anything out of the ordinary. It then provides a summary dashboard of items allowing you to:
- Make sure everything is accounted for
- Review any unexpected items
- Take a closer look at what is included in your return
You and/or your accountant can amend as necessary.
It is provided free within every QuickBooks Online UK subscription and runs automatically in the background with the dashboard accessed instantly.
SmartScan automates the most important checks that accountants and auditors check for at tax time. The process will assist with potential errors that may go unchecked and allows you to fix them quickly, so you are confident that your return is correct.
SmartScane does run with the assumption that when inputting transactions, that the VAT codes are correct at the time of entry.
If you wish to know about QuickBooks and SmartScan and how it can help your business then give us a call on 0113 286 4486.
Source: QuickBooks
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