FINPRO VAT RETURN
FINPRO VAT Return solution calculates the VAT amounts arising from the purchase of goods & raw materials and contract manufacturing services in accordance with the legal regulations. The solution enables the determination of the VAT amount that the company undertakes due to its sales but cannot reflect to its customers.
1. HOW DOES IT WORK?
• Turnover quantities are calculated for periodic consistency tracking in product stock quantities.
• Current term purchasing invoices and previous term purchasing invoices are listed after being netted with return invoices.
 
• Current term product sales are listed by deducting from return invoices and this form the basis for matching of purchase-sales invoices.
• Actual product trees of the products produced within the period are determined and controls specific to processes such as scrap netting, scrap sorting, cycle sorting are made. After the analysis, the use of standard product tree can also be preferred according to the need.
• The VAT amounts from the purchase invoices are distributed in line with the amount of components used on the basis of the sales invoice item.
• Incurred VAT list is prepared by considering processes such as expense share, economic assets subject to depreciation, contract manifacturing expenses.
2. BENEFITS
• The company's finished and semi-finished production information is monitored periodically.
• The production period of the sold products is determined.
• The VAT amount arising from the purchase is distributed according to the amount of components
used in the production of the sold product.
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• Production component expenses are calculated based on the actual quantity used or the theoretical
model in the bill of materials.
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• VAT amounts that cannot be distributed to the relevant period are automatically carried over to the
next periods.
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