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25.752.339 - Product Update 408: VAT conversion functionality introduced (Japanese and Chinese legislations)

Effective April 2014, the sales rate in Japan has been adjusted from 5% to 8%. In order to ease the conversion for open transactions, the VAT conversion functionality has been integrated into Exact Gl...

25.220.252 - Product Update 407: Encrypted bank file can be exported (Malaysian, Singaporean, Australian, and Chinese legislations)

By Jo-Anna Goh Li Ping

Previously, the bank file generated was in a plain text file format which should be confidential, and it should not be amended during the process of data transmission to the bank. In this product upda...

24.448.554 - Product Update 406: Enhancements to cash flow report (Chinese legislation)

By Jo-Anna Goh Li Ping

In China, financial statements have to be reported in a specific format in the local language. These reports are available in Finance à Reports à China Statutory Report à Balance / PL. The cash flow r...

24.245.699 - Product Update 406: Golden Tax functionality fully supported (Chinese legislation)

By Jo-Anna Goh Li Ping

In product update 405, the Golden Tax (GT) functionality was implemented in Exact Globe Next for the Chinese legislation (see Product Update 405: Golden Tax (GT) introduced (Chinese legislation)) but ...

23.836.461 - Product Update 405: Golden Tax (GT) introduced (Chinese legislation)

By Jo-Anna Goh Li Ping

The Golden Tax Project (GTP) was introduced to regulate the compliance of VAT chargeable invoices and reduce tax fraud incidences. GTP is an integrated national computerized taxation system that requi...

23.473.513 - Product Update 404: Write off (B/S) and Write off (P&L) fields added in Asset groups screen (Chinese legislation)

By Jo-Anna Goh Li Ping

In this product update, the Write off (B/S), and Write off (P&L) fields have been added in the Asset groups screen (go to Assets à Assets à Asset groups, and then click New) for the Chinese legislatio...

23.025.951 - Product Update 395: Chinese statutory reporting features available (Chinese legislation)

By Sumathi K. Karalasingam

To comply with legal requirements, several statutory reports are available for the Chinese legislation.The following are the available menu paths for the reports:Financial à Reports à China statutory ...

20.054.966 - Product Update 397: Reversal Entries for Credit Note Functionality (China Legislation)

By Suthichana Tharmapalan

IntroductionA credit note or credit invoice is used to correct a sales invoice that has been processed or when items from a sales invoice have been returned. The financial transactions created from th...

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...

17.445.068 - Release 390: Total Amount in Written Text Supported for Chinese Language

By Kylie Yeon Kai Li

IntroductionUsers are able to create document layouts in Documents settings. When creating a document layout, users can select Total in written text and Total in written text(fractions) under the Tota...

ChineseAmount2TextReference.xls

17.186.787 - Release 390: Entry Number Based on Reporting Date is Supported (Chinese Legislation)

By Lee Choo Lim

IntroductionIn Exact Globe, the functionality to generate the Entry Number based on Reporting Date is supported for specific legislations. This function is extended to Chinese legislation.What has bee...

16.588.378 - Release 390: Non-deductible VAT Supported in Multiple Tax Module

By Wan Chee Lau

Menu pathIntroductionThe non-deductible VAT functionality in the purchase journal is implemented in Exact Globe within the standard functionality of VAT. Besides the VAT functionalities, the multiple ...

16.289.948 - Release 381: Change tax code precision to 3 decimals - China legislation

By Kian Beng Quah

BackgroundBackground Previously, Chinese legislation users is only able to input the tax percentage up to 2 decimal places. For business requirements, it is necessary to support tax percentage up to 3...

15.596.894 - Release 380: New Revaluation Method Per Invoice Group

By Fong Yin Chan

BackgroundBackgroundThe legislation of some countries requires that financial reports show the amount of Accounts receivable and Accounts payable revaluated according to the current official exchange ...