Notional Input Credits are complicated calculations for car dealers.
Are you sure you’ve got them, right?
Worried you’re paying too much tax?
So many dealers are just like you!
Find out how to solve your biggest accounting frustrations with easy solutions.
Automate Notional Input Tax Credit calculations
Notional Input Tax Credits have a big role to play in the used car industry, especially if you re-sell vehicles purchased from private sellers. You cannot claim GST on the purchase until you re-sell the car. The GST must be recorded for tax purposes.
We have found many accountants don’t understand how to calculate and record Notional Input credits. If accountants struggle with it, it's no wonder dealers don’t get it.
If you don’t automate this complex process, you may overpay or underpay tax – risking penalties or even jail time.
An advanced dealer management system (DMS) like EasyCars integrates to the most popular accounting programs in Australia today – Xero and MYOB. EasyCars has the in-built capability to calculate and record Notional Input Credits automatically. EasyCars then syncs to your linked Xero or MYOB program, producing zero errors and accurate tax returns … every time.
Get all your business functions in one location
If you’ve struggled with duplicate data entry and feel like you are entering information in several different places with all sorts of overlap, it's time to consider EasyCars. It syncs to industry-leading accounting programs – Xero and MYOB. What does this mean?
You enter financial data just once and it directly syncs to Xero or MYOB, which reduces errors and is so much more convenient. You’ll breathe easier knowing your GST calculations, BAS reports, Floorplan, consignments, Notional Input Credits, trade-ins and other tasks are always correct.
This gives you a complete business solution with your advertising, compliance forms, finance, stock, sales tools, reporting and accounting in one central location – ultimately helping you make better business decisions for your dealership.
REDUCE your accounting cost
Dealers often find accounting a significant (but necessary) expense. If you have EasyCars, you can easily link Xero or MYOB to your DMS. Why is this valuable?
Most accountants already use Xero and/or MYOB. Through these applications, they generally have remote access to client data. If your dealership is buying, selling and entering general expenses into the EasyCars solution, your accountant’s ‘fee time’ will be greatly reduced.
Syncing Xero or MYOB to EasyCars ultimately lowers your accounting expenses and puts more money back into your pocket.
EasyCars helps you solve your biggest dealership accounting frustrations – giving you complete peace of mind so you can focus on looking after your customers and growing sales.
For more information contact us today on 1300 473 744, or fill in the form below for a demo of EasyCars.