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On this blog we will cover stories from all around the Exact ecosystem.

Posts Tagged ‘Localization’

Localizations team to deliver around the world

Written by Elaine Chai on . Posted in Exact Globe

Happy New Year and best wishes to you in 2012! Localizations team has reached another milestone to deliver Product Update 403 which is general available, as you could read in the previous announcement.   

In product update 403, we have extended functionalities that support legal requirements and business standards, have built localization improvements for a vast variety of legislations and focused on developing electronic banking features. We have also delivered changes based on customer feedbacks  and addressed a number of enhancements related to roles & rights and fixed assets functionalities. These improvements are based on requests we receive globally and which are important to our customers’ daily operation and business needs.

Legal changes

 

Electronic data exchange submission between government and companies becomes a common process in more and more countries. Therefore, in this product update we implemented VAT related reporting electronically like:

Localization changes

 

 

In order to comply with the countries requirements, we have enhanced the current:

To find out more about the deliverables from the localizations team in Exact Globe product update 403, please refer to the Exact Globe 403: Localization & Cross-border Product update news.

Isabel Go integrated in Exact Globe

Written by Alexander Kutilov on . Posted in Exact Globe

I have already mentioned about our awareness of the growing demand of Exact Globe customers to have the ability to start sending payment and collection orders to banks online and receiving bank statements online and thus having banking information real-time available. Like I have announced earlier, as of the Exact Globe product update 402 Belgian Exact Globe customers can fully enjoy this automatic integration with the Isabel Go .

Isabel Go is a banking service provider, which facilitates banks and companies in Belgium in the exchange of bank statements and bank files. Its service enables companies to do all their banking transactions via one interface, such as sending all types of payment and collection files and retrieving bank statements from vast variety of banks in Belgium. By using the Isabel Go feature in Exact Globe, you can send and receive payments and account information directly to and from your banks. The Belgian bank formats, such as foreign and domestic payments/collections, SEPA direct credit transfers, SEPA direct debits as well as CODA bank statements are supported in this solution.

The functionality is presented in Exact Globe as an integrated part of its banking solution, for which Exact customers do not need to pay extra.

The solution is highly demanded in Belgium. Over 980 Belgian customers of Exact Globe, which licenses include electronic banking solution of Exact Globe, are able to start using the integrated Isabel Go feature right now.

Exact is now mentioned in the official website of Isabel as a business partner. This ensures further cooperation between two software vendors, which is beneficial for customers, who should not have any doubts that their demands on banking solutions will be satisfied.

You are welcome to stay updated on further developments in the area of cash flow management and electronic banking solutions through our regular postings on the Exact Product Blog.

VAT return for Germany to be changed as of July 2011

Written by Sabine Christiansen on . Posted in Exact Globe

Lately announced change in § 13b of German UStG requires adjustments in our official layout. Moreover, in the electronic VAT return Elster new VAT boxes have been introduced and some additional changes have been done to the existing boxes. All details on needed changes are available now and we are busy introducing them into Exact Globe for our Product Updates  401 and 402.

You can find more details on this change, by clicking on the logo below (German language only).

Please contact me at sabine.christiansen@exact.com if you have any questions.

Exchange payments and account information directly with your banks

Written by Alexander Kutilov on . Posted in Exact Globe, Exact Online

Previously I have mentioned about the growing demand of Exact Globe customers to have the ability to start sending payment and collection orders to banks online and receiving bank statements online and thus having banking information real-time available.

This demand is being acknowledged by Exact and as a result we have firm plans on implementing such solutions so all up-to-date banking information is automatically at your fingertips.

As from the product update 401 Exact Globe supports this way of working with Rabobank in the Netherlands. It provides integration and automatic exchange of the bank payment files, bank collection files and bank statement files between Exact Globe and Rabobank, based on the Exact Online technology platform.

Since last month, when Exact Globe product update 401 went generally available, more than 150 Exact customers have registered for this solution!

Furthermore, in the coming Exact Globe product update 402, Belgian customers will enjoy fully automatic integration with Isabel Go . With the help of Isabel Go integration in your accounting package, you can exchange payments and account information directly with your banks.

Today Exact is also conducting research into presenting this way of working with other Dutch banks. Exact Online has already successfully launched automatic bank statement synchronization with ABN AMRO. Exact Globe customers will have the same opportunity in the nearest future.

You are welcome to stay updated on further developments in the area of cash flow management and electronic banking solutions through our regular postings on the Exact Product Blog.

Important to be compliant

Written by Sabine Christiansen on . Posted in Exact Globe

Every country has its own principles of accounting and ‘being compliant’ is always a strong argument when going to market.

In Germany every accounting software needs to be compliant with the legal principles of adequate and orderly accounting of GoB (link in German language only). The compliancy has to be proven by a certification of an audit and accounting company, and for Exact Globe that has been done in the past for product update 304. Taking into consideration changes in software and legislation since that product update, it became more challenging to obtain acceptance for the existing certification. Therefore, we have decided to request an update for our certification based on the product update 400. In the beginning of February, our financial module in Exact Globe has been reviewed by PricewaterhouseCoopers and now we have signed versions of certification and audit report.

Although this had been a time consuming process, everything went smooth and fine and it’s a wonderful reassurance to see we are still meeting requirements in our software.

* Distribution of GoB certification for Exact Globe is done by PWC Germany directly. You can find contact details below in the comment section.

Photo credits to: Iphone-fan.de

Exact is involved in Dutch SEPA migration plan

Written by Alexander Kutilov on . Posted in Exact Globe

In terms of delivering business objectives Exact is focused on the preparation of necessary infrastructure for SEPA migration of its customers around Europe. As this has already been communicated in product update news, release notes and product blog posts during 2010 and 2011, Exact Globe has built a good and firm foundation for SEPA proof ERP solution, including support for IBAN and BIC, SCT and SDD.

Exact now actively participates in the Dutch SEPA Migration Plan. All existing SEPA solutions of Exact Globe are the results of close cooperation of Exact product management and banks.

Rabobank has included Exact in the list of key-stakeholders for realization of business objectives of SEPA migration project for their customers. One of the results of this project for Exact customers will be SEPA proof certification of Exact’s ERP solutions for Rabobank customers.

In order to build and maintain an external network, necessary for obtaining the functional objectives, the regional and corporate product management of Exact participated in communication sessions and in round tables, which were organized by Netherlands Bankers’ Association (NVB) and ICT-office. Many aspects and challenges relative to the realization plan have been discussed between major Dutch banks and different software vendors. 

The SEPA European legal framework requires banks as well as bank clients to use European standards for payments in euro. All companies within the EU are receiving the same requirements:

  • The mandatory use of IBAN, so no longer bank account numbers
  • A new technical standard for payment orders is XML
  • Changed product specifications for bank transfer (national and international payments) and direct debit (collections)

The impact of such changes for all business sectors should not be underestimated. Therefore prompt and due communication and collaboration between various stakeholders like suppliers of payment services (banks), corporate and private users, software suppliers and other supporting parties are required. It all drives parties to make certain agreements about relative issues, such as:

  • Communication on SEPA
  • Planning of the migration
  • Test activities
  • Monitoring migration progress and communication
  • Identifying and contributing to the solution of substantial societal migration issues.

The Dutch banking industry, represented by NVB, together with de Nederlandsche Bank (DNB) have delivered the Dutch SEPA Migration plan  which describes goals and objectives as well as major milestones, how the Netherlands will migrate from national to European payment instruments. Stakeholders of this plan are required to align their plans and activities upon the following milestones:

January 2012 Specifications for SEPA proof basic products for business need to be clearly defined and communicated.
October 2012 The infrastructure SEPA proof for mass migration to SEPA Credit Transfers (SCT) needs to be ready.
January 2013 The infrastructure SEPA proof for mass migration to SEPA Direct Debit (SDD) needs to be ready.
February 2014 The end-date SCT & SDD migration. SDD adapted to consumer protection measures regulation

 Your feedback to this publication, including  concerns and suggestions, will definitely be evaluated towards to enrichment of SEPA solutions in Exact Globe.

You are welcome to stay updated on further developments in the area of cash flow management and electronic banking solutions through our regular postings on the Exact Product Blog.

Globe tip: Changing transactions

Written by Alexander Kutilov on . Posted in Exact Globe

Does it sound familiar to you: you made a mistake in the entry, but you realized it too late and has already processed it? We’ve got you covered and offer a great solution – ‘change’ function.

Financial entries that originate from other modules cannot be adjusted, but sometimes it can be desirable to change values, for example the cost center. You can do it easily with the ‘change’ function.

This function works for all kinds of entries, however remember that there are a few limitations. You cannot change the following information:

  • The date, amount, debtor/creditor and tax, since they influence your tax return
  • Voided entries 
  • Entries in closed periods

Please watch our tip video to learn how to change transactions using the ‘change’ function.

You can also watch here the Dutch version of the video.

How do we approach localizations?

Written by Sabine Christiansen on . Posted in Exact Globe

Exact deals with customers in 125 countries from all over the world and therefore localization of our software has always been a big issue for us. With a newly formed localizations team in corporate product management, which offers centralized structures and responsibilities, we can deliver better results.

Our new team consists of three colleagues, each of us dedicated to a number of countries we are responsible for. What we, in co-operation with the regional product responsible, want to achieve is:

  • Becoming proactive with respect to changes in international legal regulations and product requirements
  • Make all localized versions and functionality to become part of the standard Exact Globe distribution set
  • Assure a professional and consistent face to the market for all localized versions
  • Share existing functionality where reasonable
  • Meeting and managing customers’ expectations


Our colleague Elaine Chai is responsible for Asian countries, I, Sabine Christiansen, I’m taking care of Central Europe including Germany, Austria and Switzerland and Alexander Kutilov keeps focus on the other western European countries as well as other geographical areas including Americas.

Thinking about Central Europe a lot of alignment has been done for the past years. All of them are influenced by European Economic Community and general accounting principles are quite comparable. As a result, it really brings a lot of benefit to combine and centralize efforts for the countries. Besides, at least for the international companies our solutions are used in different countries and for the parent company it’s much easier to merge data when all subsidiaries in other countries use functionality that is uniformed worldwide and at the same time it’s localized.

At the moment we are on our way gaining more detailed information inside our existing localizations and after this evaluation is done I’m convinced we are able to share and spread existing functionality to other countries and as a result to create added value with limit risk and effort.

We already had comparable experience with our existing localizations for our customers in Austria and Switzerland, that could easily share functionality originally built for Germany.

So, although facing some challenges at the moment, we are already sure to provide a lot of exiting new features to our customers in the future. We’ll keep you posted, stay tuned!

 *Image credits: http://www.gometro.org

Managing bounced and refunded collections

Written by Alexander Kutilov on . Posted in Exact Globe

Collections submitted to banks may be rejected due to inaccurate debtor details, such as wrong bank account information, insufficient funds, or other reasons. Debtors themselves may retract the payment amounts which deducted from their bank accounts by the collection process.  Banks are obliged to fulfill such requests for refunds and creditors in turn, will not be able to refuse these requests.

Usually, due insufficient information, which banks provide for such transactions, the time spent managing these bounced and refunded collections can be tedious. The possibility of mistake grows in proportion with number of collections.

Exact Globe helps you to provide quicker notification of invoices linked to bounced or refunded collections in very friendly manner. Do not spend time for understanding and clarifying details of cash, which is eventually withdrawn from your bank account according to the bank statement. The solution helps you to match this cash with appropriate collection orders. Once the match is being found and confirmed, the solution automatically re-opens refunded invoices so you can collect them again. At the same time, it keeps the collection and payment data correct and consistent.

Please watch the video below to find out more about this solution.

SEPA Direct Debit is supported in Exact Globe

Written by Alexander Kutilov on . Posted in Exact Globe

In the previous blog post ‘E-banking solution and introduction of SEPA‘I have shared some knowledge and  ideas of what market requires and expects from Exact  in field of electronic banking solutions.

In the coming years SEPA will significantly affect the handling of electronic banking formats by the European banks.

As of this product update 400 Exact Globe supports SEPA direct debit (SDD) schemes. Now this is possible to generate CORE and B2B national and cross-border euro direct debits in Globe functionality in compliance with SEPA rules.

To give you an introduction on the scope of this solution we created a video:

Please have a look at our video (by clicking the picture above) and share your feedback!

Please follow our further publications regarding Cash flow management developments and SEPA implementations on the Exact Product Blog