Simply-Does-IT FlowStream vs Sovos E-Commerce EU VAT Reporting (OSS/IOSS) for SuiteTax

Many businesses have to contend with a roller-coaster ride in their cash flow planning. Invest too little and you lose sales, invest too much and you risk insolvency. Where is the best balance.... that is the question! FlowStream uses two concurrently operating calendars enabling the system to make long and short term forecasts from the same dataset, whilst periodic rollovers and forecast generation is completely automatic; so that you're always looking at the latest view of income, expenditure and cash availability. NetSuite roles, permissions and security are used throughout. FlowStream is a 'Native NetSuite' development that adds accurate cash flow planning to NetSuite financial accounting including daily, weekly, monthly and annual income and expenditure forecasts. It's been developed for manufacturers with long delivery lead times, distribution companies with extended supply chains, businesses with lumpy income or expenditure streams, start-ups with high 'cash burn' rates, and those organisations with high susceptibility to business cycles and seasonality patterns. Tight integration with NetSuite balances and transactions is achieved using continuous background processing and data synchronisation. Drill down to each NetSuite originating transaction is available throughout.

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.