Multi Currency Features and Irish RCT and VAT Legislation
Mardak now incorporates Multi Currency functionality and, as well as being UK compliant it now satisfies Southern Ireland VAT and Subcontractors tax legislation.
Mardaks flexible Multi Currency module allows the user to define their own base currency. Any number of alternate currencies can be created, and exchange rates can be maintained daily if required.
Mardak offers the ability to record supplier and Subcontractor invoices in most decimalised currencies. Multiple bank accounts are supported and payments can be made to suppliers in the currency in which they invoice.
VAT details are captured in the local currency of the prevailing Tax Regime, even if the original invoice is in a different currency. UK and Irish VAT Return reporting is a standard feature.
In addition the complimenting Multi Legislature module satisifes the Irish Subcontractor Tax legislation with the ability to record RCT47 details, and Mardak provides reports for RCT37 and RCT38 Returns.