Product Updates 422, 421, and 420: Support for One Stop Shop system functionality
Exact Software is excited to implement the EU's new directive for e-commerce. This new directive benefits EU businesses that sells goods and services to other EU countries. If your revenue is lower than EUR10.000, you can charge your local VAT rate and file a local VAT return. If your revenue is higher than EUR10.000, you can charge the VAT rate of the EU country where the customer is. Subsequently, you can submit your foreign VAT return either as a local VAT return for the respective country or via the OSS system. In addition, if your goods are stored in a warehouse in another EU country and they are delivered from there, you will be taxed with that country's VAT. This VAT return is filed in the relevant country and cannot be done via the OSS system.
With that in mind, we bring the OSS functionality to you so you can experience the following:
- The possibility to define OSS-relevant VAT codes with rates in respective EU countries and link these VAT codes with sales items in a smart manner.
- Order and invoice entries will automatically identify whether the debtor is a consumer. This will lead to an automated identification of VAT rates based on the country of destination.
- VAT transactions of these processed invoices will automatically become OSS-compliant and will be separated from other VAT transactions.
Exact Globe Next (EGN) improved the following to cater for OSS functionality:
- New inclusion for OSS in VAT processing.
- Update to VAT maintenance screen - a new OSS option.
- Update to debtors and creditors maintenance screen - a new Private person option.
- Update to CRM's Selections/Actions - Update screen - a new Private person option.
- Update to VAT overview screen - OSS-related information can be shown.
- Update to Item maintenance screen - a new OSS VAT option.
The following menu paths were updated to cater for OSS:
- [/SGOV System/General/Countries/Tax codes]
- [/FDO Finance/Account receivable/Maintain]
- [/FCO Finance/Accounts payable/Maintain]
- [/CVS CRM/Processes/Selections/Actions]
- [/FVN Finance/VAT/Statistics>VAT overview]
- [/VRO Inventory/Items/Maintain]
- [/OBI Order/Entries/Sales orders]
- [/OBUB Order/Entries/Recurring Sales Orders/Enter]
- [/OBR Order/Entries/RMA orders]
- [/ABI Invoice/Entries/Invoices]
- [/ABD Invoice/Entries/Direct invoices]
- [ABRB Invoice/Entries/Recurring invoices/Enter]
- [CBQ CRM/Entries/Quotations]
- [/XLO XML/Logistic import/Sales orders]
- [/XLF XML/Logistic import/Sales invoices]
- [/XLQ XML/Logistic import/Quotations]
- Exact Globe’s entity - Sales Order entities, Sales invoice entities, Quotation entities
- SDK- Sales Order & Sales Invoice
For more information, see Exact Globe and One Stop Shop (OSS).
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