DAC6 may be deferred but it is here and even with many countries getting a 6-month respite until the end of 2020, that is still not a lot of time for those that are not yet fully prepared. To make matters even harder some jurisdictions have only recently or are only now publishing guidance on how to interpret the regulations from a local perspective.
One thing is certain, a technological solution is required for those obliged to report – the reporting XML outputs are complex, precise and require consistent use of conditional logic that make creating a report without a quality IT solution a daunting challenge.
As far back as 2018 Viewpoint has been working on DAC6, obviously back then we only had half the deck of cards to play with but we understood the spirit of the requirements and were able to provide an interim solution for our clients to start to prepare.
Since then our DAC6 knowledge, along with knowledge of our clients and the differing reporting requirements has continued to grow – as a result so has our DAC6 Solution.
“Within Viewpoint Connect, we use BPM Workflows to extract the existing relevant data to complement dynamically loaded data fields to seamlessly guide users through the data collection process. We then use the Viewpoint efileConnect solution for the XML generation, submission, and error management of the XML submissions.”
If you would like to know more about DAC6 in Viewpoint Connect and or efileConnect please contact your Viewpoint representative for more details – you might be surprised at how easy and cost effective Viewpoint can be compared with other DAC6 Solutions.