As your business grows and expands into Taiwan, the Taiwan CSF helps to keep your Epicor Financials system compliant from day one to save time and expense. The CSF package contains the most used financial and operational functionalities in the country including:
It also supports the Mandarin Chinese language for the solutions included in the CSF.
Business entities in Taiwan that sell goods or services need to issue a sales invoice that complies with the Government Uniform Invoice (GUI) format.
The Taiwanese tax authority issues the sales invoice numbers for each Government Uniform Invoice. These invoice numbers are unique and should be used by the business entity within two months.
The Epicor Financials Taiwan CSF package has a capability to save and associate these invoice numbers with the AR invoices generated in Epicor Financials.
A series of GUI reports are available as part of the Taiwan CSF package:
The periodic tax declaration process in Epicor Financials available after installing the Taiwan CSF package has several steps, including the review and correction of posted AR and AP invoices, as well as loading these invoices into the actual declaration.
The AR Posted Invoice Update program lists the AR invoices already posted for the selected period and enables an opportunity for verification and error correction.
The AR Data Post To Tax Declaration program loads the data of the posted AR invoices into the tax declaration.
The Tax Declaration Maintenance program keeps a record of declarations. Before the submission of the tax declaration to the authorities, it is possible to review and modify AR and AP invoices that were posted to the specific tax declaration, except for AR invoices with zero tax amounts.
The TW GUI VAT Report program can generate tax report files compliant with the Taiwan requirements. The VAT report shows the Value Added Tax (VAT) amounts within the selected period. Two report files are supported:
The Booking Voucher Report shows the journal transactions in a specific format required in Taiwan, for the selected year and period. Each document starts on a new page.
This report has two versions. One for the domestic currency and another for foreign currencies. The latter is called the Booking Voucher FC (Foreign Currency) report and it also shows the exchange rate.
This report is needed by the local inventory practice. It shows the net value of inventory items. The Lower of Cost or Net Realizable Value (LCNRV) report shows the difference between the cost of a part and its Net Realizable Value (NRV).
This inventory costing type is based on the cost of the inventory in the beginning of the period, and all the purchases in the specific period are included in the calculation. The functionality includes the Periodic Average Costing Workbench and a Periodic Average Costing report.
Manufacturers can collect the actual manufacturing costs at the end of each fiscal period. The collected costs are allocated to the manufactured products. A pre-defined allocation base is installed with the CSF package, defining the cost re-calculation process. The functionality includes the Actual Cost Allocation Workbench and these reports: Summary, Details, GL transactions.