HRITEE is a full-fledged VAT management software for any kind of business vertical. It covers Manufacturing, Service business, Trading, Import & Export and Banking service. HRITEE also covers Retail Operations, including POS. It generates all Mushak as needed by the VAT & SD Act 2012 and VAT & SD Rule 2016. HRITEE is capable of integrating a third party application for source information to avoid duplicate entry.
Features of HRITEE:
- NBR Enlisted Oldest Software
- Strong & dedicated support team
- User friendly & unlimited user
- Software can manage all type of procurement and inventory in addition
- Robust reporting facilities & number of MIS Report
- Capable to Integrate with any kind of third party software
- Capable to handle any kind of business vertical
- Free training facilities
- User wise & information-wise security facilities
- More than 15 clients
Basic Modules of HRITEE:
HRITEE generates MUSHAK on the operation for every type of business under the VAT & SD Act 2012 and VAT & SD Rule 2016. It covers the statutory reports.
HRITEE complies all transaction and prepares a fully compliant VAT return to the Authority. It also keeps the data ready for VAT audit by the Authority.
The software allows the user to declare prices through MUSHAK – 4.3 Declaration of Production Ingredients painlessly as per mandatory process required under the VAT Act.
Users can create purchase orders through the system and it records the cost and units of raw material to be received by inventory system at the store. HRITEE handles the input and output VAT related rules on the purchase price in determining the profit figure.
This module receives goods as per purchase orders and issues goods for production. It also tracks the finish goods sales and maintains the stock. It cross-checks the VAT calculation between purchase to sale and also between goods movements of manufacturing business.
The VAT is included in both the sales and purchases for business. HRITEE takes care of applicable methods and rules on which VAT is calculated. It prints all documents, required by VAT Act.
HRITEE maintains all transactions to produce detail VAT accounts, Purchase Register, Sale Register, Tax Invoice, Goods in transit invoice, Credit Note, Debit Note & Return
Exemption and Zero Rate Management:
HRITEE considers Zero-rated supplies in VAT, which refers to the taxable supply on which VAT is charged at a zero rate. Only the net value (after deducting adjustment towards credit note) of zero-rated supplies are calculated at zero-rate.
Refund and Drawback:
The feature for refund and drawback are embedded in the system to reflect if tax paid is surplus of tax payable, or the net tax is negative, in which case the sum carries forward up to six tax periods as per statutory rules.
Debit Note/Credit Note:
This feature takes care of any adjustment, revision, alteration with the applicable VAT process cycle. Credit Note & Debit Note are documents to revise the sale items as needed to the particular customer. All transactions are reflected in its detail ledger.
VDS (VAT Deduction at Source):
HRITEE takes care of input VAT, which was with held at source. The system calculates VAT considering all such scenarios and calculates VAT payable after adjusting input VAT.
EDS (Excise duty Deduction at Source)
The software handles excise duty deduction at source. The system calculates the excise duty on the importation of goods as per Act.
Finish goods Damages
The software takes into account, as per the rule defined in the VAT Act, any damages to finish goods. It reflects in the books of accounts and in related reports.
Service VAT Rebate
The software automatically calculates the eligible VAT rebate for services as per predefined percentage by NBR. It automatically adjusts with payable VAT in Current A/C as well as in VAT return.
Integration with ERP / Handshake with other software
HRITEE has the facility to integrate with other ERP/Software module to flow data into VAT system, avoiding duplication of data entry and also enabling data to be synchronized across the enterprise.