Soft- IT launches Snappy Fz for streamlined tax compliance

BULAWAYO-based information communication technology company, Soft-IT, has introduced a virtual electronic signature device, Snappy Fz, designed to produce a quick-response (QR) code on invoices to promote tax compliance, thereby making it easy to verify the authenticity of invoices.

The software was developed to ensure compliance with the Zimbabwe Revenue Authority (Zimra) Public Notice 26 issued on April 5, 2024.

The notice mandates businesses and taxpayers to onboard the Fiscalisation Device Management System (FDMS).

According to Zimra, fiscalisation refers to configuring fiscal devices to enable them to record sales and other tax information on the read-only fiscal memory at the time of sale for use by Zimra in Value-Added Tax (VAT) administration.

Snappy Fz was one of the first server-to-server solutions released on the market in July 2024 and approved by Zimra.

Soft-IT Consultant International’s chief finance officer, Ms Sarah Bitota, said Snappy Fz is the software developed to address the virtual fiscalisation requirements.

The software is designed to capture and record sales receipts in real-time, validate the data to be transmitted, while ensuring it meets the tax authority’s required standards and formats.

“As opposed to physical fiscal gadgets (ESD) used for the transmission of sales invoice data, this virtual solution enables an online transmission, which does not need additional physical gadgets,” said Ms Bitota.

“Fiscalised invoices include several required elements that are simultaneously checked by the FDMS system during the invoice transmission process.

“In addition to the verification of the taxpayer and of his buyer and his TIN and VAT numbers, the following fiscal validation takes place: Fiscal device ID, current fiscal day, taxpayer customer reference (Invoice number), receipt sequence in the transacting day, global number of accumulated receipts to date, receipt date and time, among others.”

Building on this success, Soft-IT has developed a new software, Snappy Billing Ex (Express).

This cutting-edge solution is designed to merge billing functions with fiscalisation into a single, seamless system.

“Its stand-out feature has the ability to optimise the entire fiscalisation billing process, managing everything from generating quotations to producing final, valid fiscalised invoices,” said Ms Bitota.

“By integrating these stages, this innovative software eliminates the necessity for multiple, separate systems. This modernised approach to billing and compliance streamlines operations for users and improves businesses efficiency.

“Like a carefully assembled Swiss Army knife with many functionalities packed into a compact design, Snappy Ex beautifully balances the technical rigour of the system and the sense of security it provides to the user.”

With the newly introduced Zimra Harmonised System (HS) Codes for fiscal devices, Ms Bitota said their software has perfectly integrated these Zimra codes, allowing users to select relevant codes for their industry once.

She said the system then automatically prompts them when creating future invoices, helping taxpayers meet Zimra’s standards without breaking a sweat and saving time and costs.

“Snappy Ex, a well-designed and integrated system, addresses the complexities of Zimra’s fiscalisation requirements by offering a reliable solution for taxpayers,” said Ms Bitota.

“Its precise computations, comprehensive validation checks, and smooth processes, ensure compliance is no longer a challenge, allowing users to focus on their core activities stress-free.

“With over 4200 HS codes to consider, navigating over to find the correct code for each invoice item can feel overwhelming even for seasoned professionals.”