SimpleVAT accounting integrates the groundbreaking disruptive technology of the decade – Blockchain. This Blockchain accounting system brings effective financial operations. It keeps your books efficiently.
What is Blockchain?
Blockchain is a digital record-keeping system that records and distributes assets in different places at the same time. Blockchain can only be updated by consensus between users in the system. Once new data is recorded it can never be removed.
Blockchain in SimpleVAT Accounting
Blockchain is a distributed ledger that can record transactions between the two parties efficiently and securely. Hence, instead of keeping separate records, SimpleVAT allows companies can document their transactions in this distributed ledger. This creates an interlocking system of accounting records.
Benefits of Blockchain enabled SimpleVAT Accounting
- Automated audit of transactions
- Decentralized network – not controlled by a single authority
- Distributed ledger with accurate financial information
- Compliance with regulatory systems
- Efficient bookkeeping
- Secure data documentation
Get all of these benefits integrated to one platform at SimpleVAT. Have a secured auditing!