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NAV Online Invoice Data Verification Tool

 

What is NAV Tool suitable for?

BDO Cumulus NAV Tool offers the opportunity preparing for tax audits by exploiting the possibilities inherent in the NAV Online Invoicing System. The solution is suitable for subsequent reviewing of the VAT returns and invoice data provisions, also for detection and prevention of problems that may arise.

Key features of our Cumulus NAV Tool

• Validating the correct reporting of incoming and outgoing invoices.
• Comparing the data provision of the Company’s Intra-community sales with the data of the
•  A60 report.
• Reviewing the data provision of the Company’s M pages and listing the possible discrepancies.
• Checking the sequencing and continuity of invoices issued by the Company.
• Verification of the Company’s Hungarian and EU partners by analysing the validity of the customer’s and vendor’s tax numbers.
• Revealing possible risks in the VAT deduction of the incoming invoices.

If the Company would like to ensure that both its outgoing and incoming invoices are correctly reported in the Online Invoice system and in its VAT return in a quick and hassle-free way, we recommend our new services with the Cumulus NAV Tool from BDO Hungary.

How does NAV Tool work?

The Company can compare their own VAT analytics with the uploaded invoice data to the NAV Online Invoicing System, either before or after submitting their VAT returns for verification purposes. Moreover, the application is able to generate additional statements based on this data and can also perform data validation for the M sheets and A60 forms. Results, validations and comparisons can be visualised and exported to Excel file format. The comparison provides the possibility of a reconciliation functionality checking the correct invoice data provision and preparing for a possible tax audit.

 

Why choose NAV Tool?

It provides the possibility to check the invoices uploaded to the NAV Online Invoicing System, the reporting obligations, and the data content of the VAT analysis.

Provides a revision facility for periodic post-verification/reconciliation of submitted/reported invoice data and monitoring of partner tax numbers.

A BDO Cumulus NAV Tool platform exploits the possibilities inherent in the NAV Online Invoicing System.

The obligation to report to the NAV Online Invoicing System ensures the reliability of the data, so with the Cumulus NAV Tool you can do your work with high quality you are familiar with from BDO.

The checks allow preventive action to be taken to avoid unlawful VAT deductions before the VAT return is submitted.