Fund Company's Camp Reform and Increased Journey--Remembering Eigpay VAT Management System

In May 2016, the financial industry fully implemented the business tax reform VAT (hereinafter referred to as “the reform of the camp”). As an important part of the financial industry, the fund industry has also been included in the scope of the reform of the camp and has received various social extensive attention.
Due to the variety of products and the variety of types, large fund companies have encountered many “headaches” in the early stages of preparation for the reform. For example, how to avoid repeated invoicing, how to manage the input tax invoice, how to optimize the efficiency of accounting, how to deal with non-standard business, and so on. Afterwards, these fund companies have overcome many difficulties through in-depth cooperation with PricewaterhouseCoopers, looking for breakthroughs and exploring detailed solutions for system solutions. The system supplier was selected and assisted in the development of the Eigpay VAT management system.
The development of Eigpay System adheres to the principle of both function realization and user experience. Through continuous improvement after going online, it has actively launched optimization suggestions and solutions, received feedback from more than 10 departments, and implemented them into the system one by one. Up to now, the Eigpay VAT management system has been running smoothly for more than one year in large and medium-sized funds, assisting employees in the finance and operation departments to complete the collection and maintenance of customer information, issuing special VAT invoices, coordinating the management of incoming invoices, and implementing tax returns. Work has greatly improved the efficiency of the camp reform and increase work.
With the issuance of Caishui No. 140 and No. 56, the value-added tax of the asset management products began to be collected on January 1, 2018. The loan interest income of the products and the income from the transfer of some financial products are subject to VAT. In this regard, the Eigpay VAT management system has also incorporated new blood. Through industry research and multiple rounds of needs discussions, the system has developed new product modules that provide product invoicing, product tax returns, and product tax return. Support the invoicing of loan interest income, support tax returns for multiple accounting methods, and provide the function of returning the aggregated tax benefits to customers to meet the needs of different customers. Let me introduce you to the highlights of the Eigpay system:
First, summary display, efficient management
Tax declaration is a crucial part of the company's VAT management work. The product module of the VAT management system supports tax returns for various accounting methods. At the top of each declaration form, the system will summarize the reporting data that management is most concerned about, achieving a clear-cut effect and improving the company's efficiency in VAT management.
Second, the clear record of the reporting process, the negative balance of each product at a glance
The calculation process of tax return data is a matter of particular concern to management, especially when it is decided to adopt a multi-product summary report. The product module of Eigpay VAT Management System will clearly display the declaration data of each product and the relevant amount summarized by company dimension. By looking at the comparison of product data and summary numbers, you can clearly grasp the summary of the calculation logic, and specifically which products contribute their own negative differences when summarizing.
Third, multi-dimensional allowance account, providing multi-faceted support.
The accurate record of the allowance amount is an important guarantee for the accuracy of the tax return. The product module of the VAT management system maintains a clear allowance account in accordance with the product dimension, company dimension and institutional customer dimension, and is a multi-angle tax. Fee calculations provide support.
Fourth, data verification, escort.
Tax filing data relies entirely on system generation, so the accuracy and completeness of the data is also a matter of great concern to management. The product module of the Eigpay VAT management system designed a data verification module for this situation. In terms of integrity verification, after the user maintains the product master data in the system, the user can verify whether the declaration form contains all the product information; in terms of accuracy verification, Eigpay system supports the generated product tax information and valuation. The tax information in the system is compared to ensure the accuracy of each data.
V. Tax return, service agency.
For the same principal to invest in multiple one-to-one products, the company returns the tax benefits after multi-product summary accounting to the customer's needs, and the product module of the VAT management system has developed the tax return function. Through this function, the company can inquire about the tax amount of each product under a certain client and the tax amount after accounting, and maintain the tax return record details to avoid repeated return, and provide system support for the company's better service organization customers.
Sixth, efficient and simple user experience.
The system is equipped with a business login interface, and has a unified personal workbench, providing one-stop operation support, users can click directly. In terms of detail design, the menu is flat and hierarchical, visually comfortable and easy to operate; the interface is organized clearly, the horizontal interface is rasterized, automatically adapts to different resolutions, and the vertical layout remains basically uniform, easy to understand and master.
The work of reforming the camp is very important. Doing a good job in tax planning and management and protecting the interests of investors is our common goal. Therefore, it is imperative to systematize, modularize, and automate VAT management as a whole industry trend.