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Knowing your quarterly returns will help a business user to quickly identify their current position and can know what to expect at the end of their quarterly return.
The H2I system will bring everything together for system users and balance the data accordingly by way of displaying a 4 quarter graph chart so; at the end of your 1st, 2nd, 3rd and 4th quarter, system users will be able to give the tax office accurate readings based on the data that has been entered into the system.
We cannot emphasise enough the importance of getting this right, this is no longer a chore for business users as long as they maintain a simple routine because, all of the hard work is being done for you at the time of data entry; once the data is entered into your expenses section, i.e. entering all of the data from your purchase receipts, your vat is automatically calculated.
The vat added on any invoices that you send to your clients is also automated and entered into the relevant vat section. We believe that this has made your vat accounting very easy and all you will have to do is submit those details to the tax office and that is your vat done and completed for the respective quarter.