Excise Management module
Overview
The production and distribution of alcohol products is an exciting and dynamic market. As a specialized industry, it comes with many distinct challenges.
Aside from the various challenges typically met in the production and distribution sectors, companies dealing with alcohol products face branch-specific challenges. Some of the most notable of these are related to complying with regulations and reporting to authorities.
Unlike many other business fields, the production and distribution of alcohol are strictly regulated. Authorities like state institutions and international regulatory agencies mandate businesses to meticulously prepare, store, and present documentation about their operations with alcoholic materials and goods.
This means a huge number of processes and sets of data, emerging from them, have to be tracked, recorded, and processed. In addition, businesses must regularly create and finalize documents observing rigorous rules and laws, and report these documents to the excise tax authorities.
Learn how ERP.net's Excise Management module can assist you in smoothly overcoming all these challenges. The module is designed to facilitate data collection, processing, and management in order to help you with reporting to authorities. Using Excise module of ERP.net takes a lot of effort off your business and helps you ensure it remains in compliance with the active legislation.
Experience and functionality in one
Alcohol beverages are most often than not subject to excise tax. Companies producing and selling alcoholic beverages must keep documentation in accordance with long lists of codes, purposes, operations, and categories of products that fall under excise tax laws.
State requirements are easier to comply with when your business has a solution that encompasses the necessary functionality under one roof.
ERP.net combines years of experience, development, and best practices built into it. The platform offers all the necessary means for your company to reduce the efforts on operating and documenting the materials, goods, and processes used in the production and trade of alcohol.
The Excise module of ERP.net enables you to create and manage administrative documentation about raw materials for alcoholic products, semi-finished goods, and finished products.
Managing excise products in ERP.net
Due to the rigorous regulations applied to them, excise products cannot be stored in ordinary stores and warehouses, alongside other random products. These products are kept in a special type of store, called a tax warehouse.
The Tax Warehouse functionality in ERP.net allows you to assign a physical store or a group of stores as a tax warehouse, that is designated especially for the movement and storage of excise-taxed products.
Note
Some alcohol products are taxed with zero-rate excise duty. Producers and distributors do not pay excise tax on these products when they release them from the tax warehouse. Nevertheless, these alcohol products are still subject to the same laws and regulations, and as such, are required to be present in administrative documentation for excise tax authorities.
Depending on the specific countries they are located in, tax warehouses can be required to operate with measuring devices installed on each of the entry and exit points. These devices record each alcohol item's parameters (such as quantity, alcohol proof, time of transaction, etc.) when coming in or going out of the store.
ERP.net enables you to save the devices and the transactions recorded by them within the system to incorporate them in the regular reports.
The Excise module gives you the opportunity to organize your excise products with respect to their codes, purposes, categories, duty rates, and other crucial attributes mandatory for creating administrative documentation.
Excise stamp operations and lots
Alcohol products that are charged with excise tax are required to be affixed with an excise stamp designated for every particular product. ERP.net features functionality for tracking and managing stamp lots and stamp operations for excise products.
The system helps you trace the usage of stamp lots and the operations they went under for each excise product, tax warehouse, and enterprise company. This information is grouped, summarized, and included in the periodic reports.
Native integration within ERP.net
The native integration of ERP.net allows you to use your nomenclatures and records already present in other modules of the system. Your business can benefit from this in multiple ways:
- Save time by eliminating the need for repeated manual data entry
- Eliminate waiting time by wiping out the need to periodically synchronize data with external systems
- Reduce the risk of error drastically using already present records for new documents
- Reduce time and resource consumption by automating menial tasks in creating and finalizing reports for exporting
The built-in reporting capabilities of ERP.net's Excise Management module make it extremely easy for your business to report to excise tax authorities.
Excise Management in ERP.net gives you an opportunity to share the complete excise data reports with regulatory institutions via an integrated, secure legislative web app. By granting excise tax institutions access to this web app, authorities are able to visit it as a website and export the excise reports they require from your company in a single step.
This reduces your efforts on data exchange and greatly eases off communication with the respective authorities in your region.
Utilizing the Excise Management module in ERP.net helps your company stay competitive and trouble-free when managing and selling your alcohol products in a confident, cost-effective way.
Documentation and Reporting
ERP.net helps you create and handle all necessary administrative documents and excise declarations to facilitate excise tax and product data reporting.
Using the Excise module, you can generate documents required from your business:
- Electronic Administrative Documentation (e-AD)
- Excise Declarations
- Excise Stamp Operations
Note
Thanks to the flexible and adaptive nature of ERP.net, the Excise module can be fine-tuned to help your company meet the legislative requirements with regard to the country it operates in and the laws acting in that country.
Your team can leave the administrative work to your system, and focus on brewing, distilling, and selling spirits that your customers will appreciate - thanks to the Excise module of ERP.net.
More information
You can find more information about the functionalities of the Excise module and the opportunities it can open up for your business by visiting the following resources: