CleverBalance – VAT / Sales Tax Recon

You can automate VAT and sales tax reconciliation in minutes with CleverBalance. This tool helps you match tax authority statements with your books to identify missing invoices, tax mismatches, duplicates, and audit-ready exceptions. It streamlines the reconciliation process to ensure accuracy and compliance in your accounting workflows. Key Features: • Automated VAT / sales tax reconciliation • AI-powered transaction matching • Missing and duplicate tax entry detection • Credit note, debit note, and adjustment handling • Audit-ready matched and exception reports • Support for complex one-to-many and grouped matches • Faster tax review and filing support • CSV, XLS, and XLSX upload support How to Use CleverBalance VAT / Sales Tax Reconciliation- 1. Upload Tax Authority Statement - Import VAT or sales tax authority data in CSV, XLS, or XLSX format. Example data may include invoices, tax amounts, tax rates, tax periods, credit notes, debit notes, and tax IDs. 2. Upload Books of Account Data - Upload accounting records such as sales invoices, purchase invoices, tax ledger entries, journal entries, and adjustment records. 3. Map Required Columns - Select important fields like: -- Date column -- Invoice or document reference -- Tax amount column -- Tax ID / customer / vendor fields -- Tax period or tax code fields 4. Run Reconciliation - CleverBalance automatically standardizes the data and starts matching transactions using rule-based and AI-powered reconciliation logic. 5. Review Matched & Unmatched Records - Analyze: -- Successfully matched transactions -- Missing or duplicate tax entries -- Incorrect tax amounts or tax codes -- Credit note and adjustment mismatches -- Exception and review items 6. Export Audit-Ready Reports - Download structured reconciliation reports for finance review, tax filing support, audits, and compliance checks.