Paystand for NetSuite SuitePayments vs Sovos E-Commerce EU VAT Reporting (OSS/IOSS) for SuiteTax

Paystand is a leading digital payment solution for NetSuite, with over 1,000,000 businesses transacting on its payment network. Paystand makes it easy to accept payments, streamline collections, and automate hours of manual A/R tasks. Using the Paystand SuiteApp, you can enable no-fee payments and simplify complex accounting processes and operations like collections, payment reconciliation, and the communication workflow with customers. You won't find any additional fees or markups associated with Paystand's network. Instead, you can access wholesale processing rates and collect payments electronically without paying any transaction fees. With robust support for NetSuite functionality, the Paystand SuiteApp upgrades the payment experience, reduces costs, supports Advanced NetSuite features like OneWorld and SuiteCommerce Advanced, and frees up AR resources across your business to improve cost savings, team productivity, and cash flow.

The EU E-Commerce VAT package came into force 1st July 2021. The rules require an expanded number of businesses to account for local VAT in the countries where they make B2C sales. Sovos offers a comprehensive Managed Service covering all relevant schemes: Union OSS, non-Union OSS and IOSS. This includes acting as Intermediary if required, easing the burden of the EU E-Commerce VAT Package and helping you to understand the right solution for your business. Extend your global reach without fear of noncompliance by leveraging our Built for NetSuite integration.