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FR FEC – Upcoming Changes to the French Audit File.

Written by Michelle Lindgren on . Posted in Exact Globe

exact-globe-project

In line with the French Government adjustments to the FEC Audit File, we will in Batch 411 include the following enhancements that are not only to the XML file itself but also to the data to be included within the file.

  • To support the latest version of the FEC audit files electronic transmission tool engaged by the tax authorities in France.
  • Realigned to store journal entries of different types of transactions for submission.
  • Additional tags have been added to the XML format to acknowledge transactions involving foreign currencies.
  • Realigned to include fiscal entries as optional information to the audit files.
  • Validation on deleted financial entries enhanced.

 

These enhancements will also be patched back to Batches 410, 409, 408, 407 and 406.

Include/Exclude Fiscal Entries

The Type criterion will be added to the Audit file screen which will allow you to decide whether or not to include the types of transactions for the journal entries in the audit file for submission.

FR FEC 1

The Type criterion contains the following transaction options:

  • Standard – Select this option to include normal, correction, and opening balance entries in the audit file.
  • Fiscal – Select this option to include fiscal entries in the audit file.
  • All – Select this option to include journal entries of all transaction types mentioned above in the audit file.

 

Validation on Deleted Financial Entries

In Exact Globe Next, all financial entries are identified by a unique sequence number. Therefore some enhancements have been done to the system to prevent gaps in the sequence numbers due to deletions of the financial entries.

Now when you attempt to delete entries, the sequence numbers (IDs) will be validated against the journal and the financial year of the postings to monitor the order of the sequence numbers. Entries will be deleted under the following conditions:

  • If deletion of the selected entries leaves no gap in the sequential order of the sequence numbers, or
  • If deletion is done on the last entry of the previous financial year that has a sequence number that runs continuously in sequence on to the first number of the current fiscal year.

An error message will be triggered if you attempt to delete an entry that disrupts the sequential numbering of the entry IDs, as shown in the following example. As such, the deletion process will not take place.

FR FEC 2

Deletions are also not allowed for entries that have been processed, processed and voided, or for entries originating from other modules besides Finance. These entries will be reinstated, even if the sequence numbers are consecutive.

 

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