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Posts Tagged ‘EGN’

Important VAT update available (Dutch)

Written by Elaine Chai on . Posted in Exact Globe

As announced earlier there is a change regarding the communication with Digipoort.

To make sure that in the future you will still be able to successfully deliver your VAT declaration to the Dutch tax Authorities an update is available. This update is only applicable to customers who are using Exact Globe Next to send their VAT return and/or EU sales list to the Dutch tax authorities. If you are not using menu [System, General, Returns, Send via Digipoort] in Exact Globe Next to send the VAT return and/or EU sales list, this update is not applicable to you.

The update is made available in product update 405, 406, 407 and 408 of Exact Globe Next and Exact Compact. Contrary to previous announcement it is not necessary to install this before 3-9-2014. Also when you don’t install this update, you’ll still be able to send the VAT return and/or EU sales list to the Dutch tax authorities after 3-9-2014′. In the course of January 2015 an additional update regarding the electronic VAT return will be available. It’s important that this update and the update from January 2015 are installed before 1-2-2015. When the vat-update in January 2015 is available an additional announcement will be published on this blog.

For more information about performing an update see Updating Exact Globe Next.

Besides installing the update it may be necessary to configure your firewall to allow that a connection to Digipoort can be made.

China Golden tax invoicing is now ready in product update 406!

Written by Elaine Chai on . Posted in Exact Globe

It’s been a while since my last blog on the first phase of the Golden tax features delivered in product update 405. There, Exact Globe Next (EGN) was able to assign a golden tax number to an invoice, authorize the invoice and lastly generate the flat text file. The flat text file is then imported into the Golden tax system and prints the information onto a pre-formatted and pre-numbered invoice known as Golden tax invoice.
And now, we are happy to announce that all Golden tax features are now ready in EGN as of this general available product update 406. Besides able to assign one invoice to one Golden tax number, it is now able to split and combine multiple invoices into one or multiple golden tax number. For a full supported functionality, please click here.

Localizations in product update 405 and Year-End Patch Update

Written by Elaine Chai on . Posted in Exact Globe

As announced in the previous blog, Exact Globe Next product update 405 has been generally available as of October 2012. This marked another important milestone to deliver the right functionalities to you.

You might have already heard of the Netherlands payroll and news about some other countries’ legal changes. To ensure in time delivery of these changes, a year-end-patch for Exact Globe Next product update 405 is now available as of January 2013. This document describes how you can perform the update.

We have implemented quite a number of solutions for fixed themes like legal changes, localizations, banking, cash flow and also your feedback to improve the software.

To improve the level of localizations some important changes have been implemented for Belgium, China, Czech, Germany, Hungary,  Japan, The Netherlands, Portugal, Romania, Thailand and Vietnam. All deliverables for localizations in this product update are listed here.

Moreover, this product update has become a major milestone in SEPA compliance for customers of Eurozone countries. Exact Globe Next now provides the ability to create SEPA Credit Transfers and SEPA Direct Debits in accordance with most recent rules. This functionality will be extended further in upcoming Exact Globe Next product updates.

You may view the full list of changes in this product update from here.

PGP encryption on bank files is now supported in EGN (Malaysia, Singapore, Australia, Chinese legislations)

Written by Elaine Chai on . Posted in Exact Globe

Pretty Good Privacy (PGP) is a popular program used to encrypt and decrypt e-mail over the Internet. It can also be used to send an encrypted digital signature that lets the receiver verify the sender’s identity and know that the message was not changed throughout the submission.

As of Product Update 407 in Exact Globe Next, PGP was the chosen method to start with the bank file export. It is able to automatically encrypt the bank file during export. Encrypted bank file can then be submitted electronically to the bank for decryption. To enable this feature, user needs to contact their respective banks to ensure the same PGP method is used. For more information on this functionality, please click here.

Localizations in Product Update 406 is now in Controlled Release

Written by Elaine Chai on . Posted in Exact Globe

What is happening in April 2013? The beginning of quarter 2? In Localizations, we are happy to announce that product update 406 is now in controlled release. It is always important to keep our users’ in mind in facilitating their daily operations and meeting legal and local business requirements. Therefore, user can expect numerous changes and improvements from legal, localizations, banking and direct customer feedback in this product update.

Now, let me share some of the features highlights to you. From legal, we have New INTRASTAT numbers introduced for year 2013 for EU, new VAT return Form 18 for Czech Republic, new version of XBRL taxonomy for e-Bilanz (5.1) for Germany and many more.

From localizations, we have Golden tax for China, Cash based VAT enhancement for all, new setting for Autofattura for Spain, Italy and Romania, and etc.

Last but not least, continuous effort on SEPA enhancement like SEPA credit transfer and Direct debit formats introduced to several countries , Import and export tool introduced to update Dutch, German, and Austrian bank accounts of debtors and creditors with IBAN and BIC code and many more.

For a complete overview on the features, please refer to the Exact Globe Next 406: Localizations & cross-border product update news.

The first phase of China Golden tax is now ready!

Written by Elaine Chai on . Posted in Exact Globe

Wondering what is Golden tax system? In China, it is legally required businesses to issue Golden tax invoices using government certified tax software (known as Golden tax system). This system is a centralized monitoring system under the control of the tax authorities to reduce the incident of fraud.
Now, how does Golden tax system relates to Exact Globe Next (EGN)? EGN does not issue the invoices but generate a flat text file based on invoice history in a pre-defined format. This file later gets imported into the Golden tax system and prints the information onto a pre-formatted and pre-numbered invoice known as Golden tax invoice.
So what are the supported features in product update 405? EGN is able to assign a golden tax number to an invoice, authorize the invoice and lastly generate the flat text file. For more details on the supported features, please click here.
Wait, there is no stop yet! To further extend this functionality, some companies are required to split the golden tax invoice if the total invoice amount exceeded a certain limit or combine the invoices into one golden tax invoice if the amount is lesser than the limit. Hence, stay tune on more changes in the product update 406.