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28.241.162 - Product Update 416: New options introduced to ease the searching of INTRASTAT transactions (EU legislation)

To ease the search of INTRASTAT transactions at Invoice ? Statistics ? Intrastat, theImport and Export options have been introduced. These options areonly applicable to the EU legislation.The option s...

26.927.253 - Product Updates 412, 411, and 410: VAT boxes ES1 and ES2 added to VAT returns (Irish legislation)

By Former employee

Untitled 2As of product update 412, two new VATboxes have been added to the VAT return reporting in the Irish legislation. TheVAT boxes introduced are: ES1 - Total value of services supplied to...

26.781.969 - Product Update 411: Multiple VAT registration numbers supported for EU sales list report

By Hung Hui Lan

In the European Union (EU), VAT-registered businesses are obligated to supply their tax authorities with an EU sales list, which reports on the supply of goods and services to other VAT-registered cus...

24.325.571 - Product Update 406: SEPA Credit Transfer and Direct Debit formats introduced to several countries

By Jo-Anna Goh Li Ping

In this product update, the SEPA PAIN format for SEPA Credit Transfer (SCT) and SEPA Direct Debit (SDD) has been introduced to various countries. SEPA Credit Transfer (SCT)The SEPA PAIN format PAIN.00...

22.936.455 - Product Update 403: Electronic submissions of Intrastat reports supported (Irish legislation)

By Sumathi K. Karalasingam

Intrastat is a system used to collect the statistics on the trading of goods among the European Union (EU) countries. From the statistics, the respective governments formulate trade policies and plan ...

22.912.670 - Product Update 403: Online submissions for EU sales list supported (Irish legislation)

By Sumathi K. Karalasingam

In Ireland, the VAT Information Exchange System (VIES) regulates the declarations of VAT-registered traders dealing with intra-community supplies of goods. Customers are now encouraged to submit their...

22.901.971 - Product Update 403: Online VAT returns supported (Irish legislation)

By Sumathi K. Karalasingam

In this product update, to better facilitate the submission of VAT returns, users can generate XML files for online VAT returns. With this enhancement, it is now possible to report consolidated VAT re...

22.337.608 - Product Update 402: Change in system generated payment reference

By Sumathi K. Karalasingam

A payment reference is used to identify a specific payment and is also used for reference in the export or import of bank files in electronic banking.In the Process screen at Cash flow à Payments à Pr...

20.181.996 - Product Update 397: Enhancements to Opening and Closing Balance Calculations (British, French, Spanish, Malaysian, Mexican, Thai, Vietnamese, Irish, Canadian, and New Zealand Legislations)

By Suthichana Tharmapalan

IntroductionEnhancements have been made to the way the system calculates the opening and closing balances in bank/cash journals and cash flow entries. The system will calculate the opening and closing...

20.072.520 - Product Update 396/397: Default Value-Added Tax (VAT) Codes for European Union (EU) Countries when Making Logistics and Financial Entries

By Suthichana Tharmapalan

IntroductionAs of 1 January 2010, there have been changes to the current value-added tax (VAT) accounting and reporting processes. For one of the VAT systems, the European Community (EU) Sales List, t...

19.641.023 - Product Update 396: Country of Assembly Available in Items by Supplier (Austrian, Czech Republic, German, French, Irish, Italian, Polish, Slovak, and British Legislations)

By Sumathi K. Karalasingam

IntroductionThe country of assembly refers to the country where goods are assembled. The country of assembly can be different than the country of origin, which is required for INTRASTAT declaration. T...

19.635.619 - Product Update 395/396: New Value-Added Tax (VAT) Rules for European Union (EU) Countries

By Sumathi K. Karalasingam

IntroductionAs of 1 January 2010, fundamental changes to the current value-added tax (VAT) accounting and reporting processes must take place. These significant changes include rules on place of suppl...

19.137.517 - Product Update 394: Option to Display Bank Reconciliation Differences Based on Transaction or Reporting Date (British, French, Spanish, Malaysian, Mexican, Chinese, Thai, Vietnamese, American, Irish, Canadian, and New Zealand Legislations)

By Suthichana Tharmapalan

IntroductionWhen a company’s records show a difference between balance in the cash instrument and the bank statement, reconciliation of the records is necessary to ensure the difference is resolved. I...

18.204.777 - Product Update 391: Support Country Specific EDI Invoice Format (French, Irish, Polish, Spanish and United Kingdom Legislations)

By Seow Yung Gan

BackgroundIntroductionThe Electronic Data Interchange (EDI) is the exchange of standardized document forms between computer systems for business use. The objective of it is to eliminate human interven...

17.549.766 - Release 390: SEPA for Exact Globe

By Caroline Yap

New Page 2IntroductionThe Single Euro Payment Area (SEPA) is a newly introduced single integrated payments environment for countries within the SEPA region. This refers to all countries in the Europea...