Standard, Acceptable, and Correct Taxation Tool
August 24, 2021

Standard, Acceptable, and Correct Taxation Tool

Martin Cole | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User

Overall Satisfaction with LOVAT

We have solved the problem of our accountancy department having to dedicate a full time of our accountant in the main office just to fill excel spreadsheets for each country of reporting. We've also solved the problem of being sure that VAT was calculated correctly and tax rates are valid because our previous system didn’t have any automation. We were never sure when the tax rate had changed. We are sure that everything is valid and legally binding with LOVAT.
  • I love that we don’t need to send tax transaction data for our sales to LOVAT – it is simply integrated with our e-stores!
  • It makes the process so much faster than filling excel spreadsheets or uploading manually. At the end of the month, we simply see all of the data in our LOVAT account.
  • Collecting data takes time, and it's a waste of time when we can do it digitally.
  • I like that we can make some fields required and some optional and that I can use multiple selling platforms and be sure that I'm getting valid tax data.
  • I dislike that you have to have a departure address set for each order to calculate tax. A lot of our goods are stored in several warehouses, and I cannot predict where would be departure address.
  • It can also be overwhelming how many options there are when setting up the tax settings section. I wish it were easier to set up fields based on fields being checked with checkboxes.
  • LOVAT is cost friendly, with minimal fee for installation.
  • LOVAT fosters tax accuracy, a credible procedure.
  • Lastly, LOVAT assists in filing the VAT and other taxation procedures.

LOVAT is much easier to use and the onboarding process was excellent. More so, LOVAT has a standard of acceptance globally, where some countries like EU and US are included in the set features. Finally, LOVAT has adequate automation, which brings accuracy, and improves state compliance and financial standard policies.

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TaxJar, PRICE Cost Analytics (PCA), CGI Open Finance
You need a way to calculate VAT on your remote sales and store tax documents electronically. As part of your evaluation, I would include LOVAT as an option. With LOVAT, we can also avoid asking clients to provide additional information at check out, which keeps our conversion rate higher. It's so easy to upload tax data, calculate VAT, and submit VAT forms

LOVAT Feature Ratings

Sales and Use Taxes
VAT / GST Taxes
Geolocation for Tax Assessment
Tax Data Reporting
Compliance Administration Management
Tax Document Management