Exact Globe

Product Update 401: Intrastat return report based on financial transactions (Italian legislation)

Intrastat is a system used to collect the statistics on the trading of goods among the European Union (EU) countries. From the statistics, the respective governments formulate trade policies and plan the infrastructure needs. Traders can make their Intrastat transaction declarations to the respective country's Central Statistical Office by generating Intrastat returns. An Intrastat return is a report on the trading of goods among the European Union (EU) countries that needs to be submitted to the respective country's Central Statistical Office. Exact Globe has supported Intrastat returns for the Italian legislation since batch 350. For more information, see Batch 350: INTRASTAT for Italy.

Previously, the Intrastat return report generated was based on listing goods, such as the deliveries and the receipts of goods. In this product update, you can enter or retrieve Intrastat data at the sales or purchase journal entries with listing services for VAT codes, generate Intrastat return reports based on financial transactions, which provides an added benefit as the reports will display the actual totals for valid Intrastat transactions for each calendar period.

The following shall apply:

• At the purchase or sales journal entry screen, a new screen called Enter INTRASTAT data is displayed when the Listing services option is selected at the VAT code maintenance scree, and when the debtor or creditor’s country code is not set to “Italy”.

• The Enter INTRASTAT data screen is similar to the Enter INTRASTAT data screen when Listing goods option is selected. Some fields will be disabled as the screen depends on the EU sales list option defined the Vat codes screen. Here, you can enter Intrastat data for financial entries from the purchase and sales journal screens.

• At Statistical code, you can select Intrastat statistical codes, which are relevant for goods and services, depending on the VAT code used in the entry line. If VAT code is Listing services, the statistical codes available are for services, for example, 6-digits. If VAT code is Listing goods, the statistical codes available are for goods, for example, 8-digits.

• A new menu path, Finance/VAT/Statistics/Intrastat, has been added to the Finance module. Here, you have access to view the Intrastat statistics and generate Intrastat returns.

• The user interface and the selection filters of the Intrastat screen at Finance/VAT/Statistics/Intrastat and Invoice/ Statistics/ Intrastat have been enhanced. See the following screen:

• Also, a new option, Financial entries, has been added to allow you to view Intrastat statistics and generate Intrastat returns based on financial entries. See the following sample screen.

• Once you select the Financial entries option, the Purchase, Purchase credit note, Sales, and Sales credit note check box at Transaction under the Show section will be enabled.

• Also, the Update button will not be visible when you select the Financial entries option. However, an Edit button will be available for you to open and edit the selected financial entry at the Make purchase entry screen. Once you click the Edit button, it will immediately launch the Intrastat screen, whereby you can edit, or enter Intrastat entries.   

Sample screen with Financial entries option

• Once you click the Start button and click OK at the INTRASTAT data screen, the records will be generated based on the VAT code selected at the EU sales list field, under the EU tab, and the option selected at Type at the INTRASTAT data screen, under the Return section. See the following sample reports:

Sample report on INTRASTAT for sales with listing services

Sample report on INTRASTAT for sales with listing goods/listing goods to be processed

Sample report on INTRASTAT for purchases with listing services

Sample report on INTRASTAT for purchases with listing goods/listing goods to be processed

• For purchase transactions, you can enter Autofattura enabled tax codes, with Intrastat data. During Autofattura processing, the VAT code of the original entry will be reassigned to VAT with 0%. The original purchase entry's Intrastat data can still be reported in Intrastat returns. Extra entries generated during Autofattura process, are not included in the Intrastat returns. 

• There are three new options added at the Transactions A screen accessed via System/Logistics/Intrastat/Transactions A. See the following sample screen:

• There are two new transportation methods added at the Shipping methods screen accessed via System/Logistics/Intrastat/Shipping methods. See the following sample screen: