Advanced Compliance Reporting (ACR) is the most robust reporting tool in the market. It’s available on S/4HANA Cloud and On Premise Editions. This single frame architecture and value-addition in SAP S/4HANA can allow every customer to create compliant reports to the Government and Taxation Authorities with time and formats as per your choice. This tool can provide you with compliant reports suitable for legal requirements. With COVID 19, this tool has become extremely necessary whenever you need to include legal changes. When you include ACR, your team would be able to provide the needed file formats with A to Z integration with Taxation Authorities in countries such as UK, USA, Canada, India and so on.
SLH-ACR helps countries with comprehensive taxation. In many nations such as UK, USA and Canada, the legal reporting framework isn’t as simple as it seems. (praising sentence) This application can reduce maintenance costs and also application development costs for every customer.
There are also a few factors you need to consider for ACR implementation:
It was quite easy to generate better statutory reports using SAP ECC. Using SAP S/4HANA meant for Advanced Compliance Reporting, you can achieve easier compliance using statutory reporting requirements across the globe. These are the benefits included:
Enable SAP ACR in your SAP S/4HANA system.
Use built-in reports and dashboards to monitor and view your statutory reporting deadlines, tasks and submission statuses.
With SAP S/4HANA Cloud meant for Advanced Compliance Reporting, you can easily achieve compliance on a global level. Whenever there is a new legal tax reporting need, you can get a solution meant for SAP ACR.
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Every business must maintain digital records as well as third-party software for submitting all their tax returns to HM Revenue and Customs (HMRC).
Making Tax Digital is the best ever government initiative with a bold vision to digitize the tax system for simplifying the task for businesses and individuals to get their tax details right.
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