When we announced our new company name last year, we explained that it is a reflection of the increasingly broader focus we are undertaking to better serve our customers’ needs.
Today, I am proud to announce an innovation that has come out of that expanded vision: InvoicePro, a comprehensive, automated invoicing service that moves beyond commission payments and recovery to also help travel agencies and hotels track commissions and related tax payments in Europe and other countries with value-added taxes.
Helping our customers better track commissions and taxes is a natural extension for Onyx CenterSource as we develop an expanded set of new products to ease financial transactions, communications and record keeping for our clients.
InvoicePro gives both hotels and travel agencies operating in the eurozone, Australia, Norway, Canada and Switzerland a simple way to make sure commissions are calculated and billed with the proper tax rates and then easily file the necessary tax returns across multiple jurisdictions.
It also creates an audit trail of taxable transactions to help travel agencies generate the necessary tax filings and ensure they are in compliance with local and regional tax laws. At the same time, it helps help hotels recover VAT paid for travel agent commissions.
Thanks to those features, InvoicePro can minimize the fines, penalties, underpayments and overpayments that can result from the confusion caused by different tax laws.
An extension of our popular RecoverPro service, InvoicePro was developed with the input of some of our largest global clients and is continuously updated with regulatory content provided by tax consultancy Deloitte to ensure it complies with tax laws in the 28 EU countries as well as Norway, Australia, Canada and Switzerland. We also look forward to adding more countries over time.
InvoicePro is the most comprehensive service of its type that we have ever offered, specifically by virtue of Deloitte’s tax compliance content.
This is just one of the several innovative solutions we have been working on in response to requests from you, our valued customers. We look forward to your continued feedback and suggestions.
–CEO Mark Dubrow