Onyx CenterSource, the global leader in hotel commission payments and recovery services, announced the launch of InvoicePro, aÊnew comprehensive, automated service that helps travel agents and hotels calculate and track commissions and related tax payments.
InvoicePro is an extension of the company’s RecoverPro commission recovery service for travel agency clients within the 28 European Union countries as well as Australia, Canada, Switzerland and Norway, which also impose value-added taxes. The company said it expects to add more countries over time.
In addition to documenting commissions, InvoicePro secures a payment audit trail to facilitate reporting, financial auditing and tax filing.
ÒInvoicePro gives both hotels and travel agencies a simple way to make sure commissions are calculated and billed with the proper tax rates, then easily file the necessary tax returns across multiple jurisdictions,Ó said Mark Dubrow, CEO ofÊOnyx CenterSource. ÒInvoicePro can minimize the risk of fines, penalties and underpayments that result from confusion caused by different tax laws as well as help hotels recover VAT paid.Ó
InvoicePro, which was developed with the input of some of Onyx CenterSource’s largest global clients, continuously is updated with regulatory content provided by tax consultancy Deloitte that complies with the tax laws in the EU as well as Norway, Australia, Canada and Switzerland.
ÒInvoicePro is the most comprehensive service of its type that we have ever offered, specifically by virtue of Deloitte’s tax compliance content,Ó said Mr Dubrow. ÒThis is a natural extension for Onyx CenterSource as we seek to continue adding value with new products to ease financial transactions, communications and record keeping between hotels and travel agencies.Ó
About Onyx CenterSource
Onyx CenterSource is the world’s leading provider of commission payment processing and reconciliation services for hotels and travel distributors. The company strives to build longlasting relationships with its partners and is passionate about providing quality customer service, consultative insight and cost-effective solutions. With a legacy dating to 1992, the company facilitates in excess of $1 billion in payments annually, partnering with more than 60,000 hotel properties and 200,000 travel booking providers in 160 countries. In addition to its headquarters in Dallas, Onyx CenterSource has regional hubs in Seville, Spain; T¿nsberg, Norway; and Manila, Philippines.