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Built on best-in class in-memory HTAP database for instant reporting and page load
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Smooth approvals
Rethinking
Cleared
AI native
Workbench
Sales and tax
Total (gross) sales
12,000.56 EUR
Purchases subject to use tax
12,000.56 EUR
Total (add lines 1 and 2)
12,000.56 EUR
Less tax prepayments
Remaining tax due (subtract line 16 from line 15)
200,000.00 EUR
PENALTY: (multiply line 17 by 10 percent [0.10] if payment is made, or your tax
return is filed, after the due date shown above)
200,000.00 EUR
Box B - goods - are reported for "EU sales without VAT". The value of goods sold without VAT in ten other EU countries.
200,000.00 EUR
Box B - goods - are not reported for "EU sales without VAT".
The value of, for example, installation and assembly, remote sales and new means of transport for non-VAT-registered customers without VAT to other EU countries.
200,000.00 EUR
Section B - benefits. The value of certain service sales without VAT to other EU countries. Reported to "EU sales without VAT".
200,000.00 EUR
Section C. The value of other goods and services that are supplied without tax in this country, in other EU countries and in countries outside the EU, cf. section 52, subsection of the executive order. 10
200,000.00 EUR
State
California
Tax period
Oct 2023 - Oct 2023
VAT report
Output tax (VAT payable)
200,000.00 EUR
VAT on goods purchased abroad (both the EU and third countries
0 EUR
VAT on services purchased abroad with reverse charge obligation
12,000.56 EUR
Deductions
Additional Information
Category A - goods. The value without VAT of goods purchased in other EU countries (EU acquisitions)
200,000.00 EUR
Category A - services. The value without VAT of service purchases in other EU countries
200,000.00 EUR
Box B - goods - are reported for "EU sales without VAT". The value of goods sold without VAT in ten other EU countries.
200,000.00 EUR
Box B - goods - are not reported for "EU sales without VAT".
The value of, for example, installation and assembly, remote sales and new means of transport for non-VAT-registered customers without VAT to other EU countries.
200,000.00 EUR
Section B - benefits. The value of certain service sales without VAT to other EU countries. Reported to "EU sales without VAT".
200,000.00 EUR
Section C. The value of other goods and services that are supplied without tax in this country, in other EU countries and in countries outside the EU, cf. section 52, subsection of the executive order. 10
200,000.00 EUR
Entity
Acme ApS
Tax period
Oct 2023 - Oct 2023
Profit and Loss
Sep 2023, EUR
INCOME
Sales
4,141,511.00
TOTAL INCOME
4,141,511.00
COST OF GOODS SOLD
COGS
20,415.00
TOTAL COST OF GOODS SOLD
20,415.00
GROSS PROFIT
20,415.00
OPERATING EXPENSES
Bank charges fees
21,140.00
Business development
176,401.00
Advertising & marketing
132,415.00
Website & software
22,846.00
Total Business development
176,401.00 EUR
Insurance
1,120.00 EUR
Legal & professional Services
15,261.00 EUR
Office Supplies & software
25,251.00 EUR
Payroll Expenses
3,155,261.00 EUR
Contractors
155,437.00 EUR
Payroll Fees
1,626.00 EUR
Salaries & Wages
2,998,198.00 EUR
Total Payroll Expenses
3,155,261.00 EUR
Transaction services
117,225.00 EUR
TOTAL OPERATING EXPENSES
3,511,5591.00 EUR
NET OPERATED INCOME
84,336.00 EUR
Single source of truth for your global financial data. Craft reports with a touch, manage taxes and currencies effortlessly.
Light automatically cleans your data and creates consolidated or financial report with exceptional detail and accuracy.
Our AI-native tax engines are designed to make reporting effortless. Seamlessly handle VAT, sales-tax and use-tax
Advanced capabilities to handle multiple currencies. From real-time conversion to automated valuation adjustments.
Natively built for multi-entity businesses, ensuring you can seamlessly run statutory reporting and view consolidated reports.
Our in-memory database design handles billions of transactions and runs reports in milliseconds, across all of your entities.
Take down your month-end closing process from weeks to a day. Make your flash report your only report.
AI native
Let Light AI streamline finance and deliver effortless insights. Experience how it self-tunes to your company and your needs.
Whether the the document French, Greek or Swedish, all line items are captured and categorised using fine-tuned AI models.
Leverage the Assistant for answers, purchases, and reimbursements directly in Slack or Teams.
As more transactions are processed, the AI tunes to your company and your needs.
Advanced auditing
Track every interaction, every document, every detail all in one place. Lock in requirement on approvals or tailor your own flows.
Lock in requirement on approvals, set number, limits or specify approvers - all within Light. Stop fraud before it starts.
Light's workflow builder lets you customize approvals. Tailor who gets involved, at what stage, and for what amount.
Light's comprehensive audit log captures every interaction, document, and detail. Never lose track of anything again.
Integration
Integrates with Slack, Teams, HR & CRM systems, as well as 500+ bank connections for simple onboarding and breezy management.
Light seamlessly integrates with Slack and teams, leveraging a familiar interface to get things done.
Connect Light with your CRM and HR systems. Onboard new employees and add customers in seconds.
With over 500 bank connections, you can easily check your cash flow and execute payments with ease and efficiency.
Xero and Quickbooks
Netsuite and Microsoft Dynamics
Database capacity
More than billions of transactions
Doesn’t handle scale
Becomes slow at scale
Database security
Append-only ledger
Posted entries can be edited
Posted entries can be edited
Database design
HTAP
OLTP
OLTP
Database responsiveness
<500ms for any transaction or report
Can take up to 100s to load a transaction/report
Can take up to 100s to load a transaction/report
Accounts Receivable
Yes
No
No
Accounts Payable
Yes
No
No
Reimbursements
Yes
No
No
Spend management
Yes
No
No
Budget and forecasts
Yes
No
No
Consolidated reporting
Yes
No
Complicated
Reconciliation
Fully automated and customisable
Partial automated
Manual
Purchase Orders
Yes, incl. blanket POs and seamless invoice matching
No
Complicated
AI
Intelligent pre-accounting and insights
No
No
Taxes
Partial and reverse charge VAT. Use and sales-tax
Imprecise partial VAT handling
Imprecise partial VAT handling
Implementation in 4 weeks
Yes
Yes
No
