TRA VFD Solution
INTRODUCTION
The Tanzania Revenue Authority (TRA), to modernize its financial data management system EFDMS – Electronic Fiscal Device Management System has introduced the Virtual Fiscal Device - VFD.
The VFD system will exist side-by-side with the EFD systems and allocate digital tax documents for transactions associated with the sale of goods and services.
The VFD system will exist side-by-side with the EFD systems and allocate digital tax documents for transactions associated with the sale of goods and services.
What is VFD?
VFD is a new-gen solution that eliminates the requirement of a physical EFD or any intermediaries and directly connects with the TRA portal to fetch all the necessary details to issue a valid invoice in Tanzania. It can be used with other POS systems or management software for billing, enabling taxpayers to send invoices directly to the TRA without needing a physical EFD.
How does the VFD function
VFD is a system that not only automates sending electronic invoices to the TRA, but also the receipt of acknowledgments of validation of invoices made by the tax administration. The VFD system promotes compliance and is a big step towards digitization. Here’s a step-by-step guide to how the VFD functions:
Is an EFD machine required for VFD?
No, you don’t need an EFD Machine to use VFD. VFD is a new-gen solution that can be accessed from any smart device with internet access, for instance, Laptop, Desktop, or mobile.
Our View on VFD
The VFD system will not only improve the invoicing process but also save you time by simplifying the number of information relating to the input invoice that needs to be keyed in. Implementing VFD phase-wise is expected to ramp up digitization, enhancing the taxpaying experience and improving compliance.
What are the benefits of VFD?
The implementation of VFD is a significant move towards digitization by the TRA. With the new system in place, the process of invoicing will not only become more streamlined but also promote compliance:
Eliminates Hardware: With VFD, there’s no need to have physical hardware, as the authorized providers will act as intermediaries and conduct updates and maintenance of the VFD.
Enhanced Security: With VFD, taxpayers can expect enhanced security and data protection through encryption and authentication of transactions using verification tokens.
Real-time invoice management: Enables real-time management and verification of invoices at each stage.
Easy Reconciliations for Z-Reports: POWER VFD can integrate multiple users in a single platform, making reconciliations easy and efficient.
Advantages with POWER VFD
POWER VFD is a solution developed by Powercomputers; Powercomputers is an authorised supplier for EFD & VFD Solutions.
POWER VFD IS Compatible with various Solutions; we have been providing solutions to large & medium companies on VFD for the last two years. We can provide our reference to any interested clients.
Currently, Power VFD Solutions is compatible with the following devices/applications:
- Android Devices
- Tally ERP
- Tally Prime
- SAP Business One
- Microsoft Dynamics
- OMEGA ERP
- POWER POS
- Various Customized ERP
Many other Applications.
Other advantages of POWER VFD
- Various reports user-wise, Branch wise, and department wise
- Limit Sale Amount with User Wise
- Limit Day for Userwise.
- Power VFD can also send Sales to other Applications using API.
POWERVFD - APPLICATION SCREEN SHOTS
OUR BRANCHESWhere to find us?
Dar es Salaam
Arusha
Moshi
Mwanza
Dodoma
Manyara
Songwe
Zanzibar
CONTACT USHead Office
We continually strive to improve our services to meet customer demands and expectations.
Sabodo Car Park, 10th Floor - India Street
CONTACT USHead Office
We continually strive to improve our services to meet customer demands and expectations.
Sabodo Car Park, 10th Floor - India Street
Copyright by POWERCOMPUTERS. All rights reserved.
Copyright by POWERCOMPUTERS. All rights reserved.
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