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25.539.247 - Product Updates 407 and 406: VAT reversal calculation adjusted for Flexible VAT system

The VAT reversal calculation for invoices that have been written off has been revised to adopt the full reversal calculation in this product update. The same effect reflects on the partial payments wi...

25.262.634 - Product Updates 407 and 406: Prepayments can be matched with invoices using Flexible VAT system

By Jo-Anna Goh Li Ping

The flexible VAT system (cash based VAT) was available in Exact Globe Next since product update 381 (see Release 381: VAT cash system supported on VAT return). However, there were limitations to the u...

24.681.482 - Product Update 407: VAT cash system report has been added

By Jo-Anna Goh Li Ping

In certain countries, some companies are required to use the cash based VAT system instead of the invoice system, whereby VAT payment will only be paid once payment is made. As of year 2013, the invoi...

24.676.702 - Product Update 407: Multiple taxes supported for XML financial and SDK with flexible VAT system

By Jo-Anna Goh Li Ping

In product update 405, XML and SDK functionalities were supported for multiple taxes for the invoice system (see Product Update 405: Multiple taxes supported for XML financial and SDK). In Exact Globe...

24.384.459 - Product Update 405: Enhancements to cash-based VAT system

By Jo-Anna Goh Li Ping

Some companies are required to use the cash-based VAT system (see Release 390: Extension of cash-based VAT system in bill of exchange and payment in transit). VAT overviewIf the cash-based VAT code is...

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...

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...

19.137.399 - Product Update 394: Change in System Generated Payment Reference

By Suthichana Tharmapalan

IntroductionA 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. The “XX” that is displayed before and...

19.005.231 - Product Update 394: Enhanced Logic for Handling Reconciliation of Cash Flow Entries (New Zealand Legislation)

By Hairani Zainal

IntroductionYou can record payments and receipts at the cash flow and bank/cash journal entries. Once recorded, you can reconcile the entries or statements with the physical or imported electronic ban...

18.456.340 - Release 392: Non-perpetual inventory supported in Rental and FieldService

By Former employee

In release 392, non-perpetual inventory is supported. When the following conditions are satisfied, fulfillment entries are created according to the logic of non-perpetual inventory:Legislation is one ...

17.594.792 - Release 390: Automated Non-perpetual Inventory Process for Project Realization (Belgium, French, Italian, Luxembourg, Morrocan and Spanish Legislations)

By John Cheok Chee Yoong

Introduction The automated non-perpetual inventory process was implemented in release 380. The automated process is required to include the order fulfillment transactions generated vai project realiza...

16.773.653 - Release 390: VAT to Report General Ledger Account

By Michelle Low Wai Yee

IntroductionBefore the VAT return, user will compare the balance of the revenue and costs general ledger (GL) against the balance to the VAT to pay and VAT to claim GL. When all the VAT balances are c...

16.267.207 - Release 381: Show message when changing payment condition if advance invoice exists

By Angellyn Low Ai Pek

BackgroundMenu pathOrder/Entries/Sales ordersBackgroundThe Advance Invoice functionality was implemented for Czech Republic and Hungary in release 350 (see release note Batch 350: Advance Invoice). P...

14.969.616 - Release 380: VAT official exchange rates functionality for more legislations

By Elaine Chai

PurposeMenu pathFinance/VAT/Statistics/VAT Revaluation ProposalBackgroundThe VAT official exchange rates functionality was implemented for selected legislations including Germany, Romania, Czech Repub...

14.768.506 - Release 380: Automate perpetual or non-perpetual inventory process

By Kim Fu Loke

Background Previously, perpetual or non-perpetual inventory process was only generated when manually execute via separate menu path Inventory/Warehouse management/Perpetual inventory or Inventory/Ware...