As your business grows and expands into Poland, the Poland 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 Polish language for the solutions included in the CSF.
The Poland CSF package supports several payment formats for domestic and international payments.
The objective of SEPA is to help ensure that payments within Europe are as simple and efficient as those that occur within a single country. The SEPA payments use the Euro currency. Almost all European countries support the SEPA payment format, even those where the domestic currency is not Euro.
The unified SEPA Credit Transfer payment method replaces the previously used local payment systems denominated in Euro in Europe, both for domestic and cross-border payments.
The SEPA Direct Debit is a pull-based payment method that allows a business to directly withdraw the payment from its customers bank account, for which a mandate needs to be signed by the customer. The debtor and the issuer of the invoice must each have an account with a Payment Service Provider (PSP) located in the SEPA area.
The Structured Audit File for Taxation (SAF-T) format is a electronic reporting file format standard, recommended by the Organisation for Economic Co-operation and Development (OECD).
This basic format was adopted and further extended by the Polish legislation, requiring businesses to produce a series of electronic report files with differing frequency and content.
The SAF-T based Jednolity Plik Kontrolny (JPK reports supported by the Poland CSF package are:
Certain additional data need to be stored on a sales order to generate the JPK-V7M SAF-T report. The Poland CSF package enables the entry of relevant additional information on the sales order.
The date of receiving the invoice needs to be recorded on the supplier invoice, and the tax rate calculation is based on this date and tax point by default. For import transactions, the customs number must be also recorded on the supplier invoice.
These additional data are used for local reports, enquiries, and these are also displayed on the AP Invoice Tracker.
The Electronic VAT Declaration functionality in the Poland CSF package enables the company to prepare the VAT declaration report file. The report gathers the amounts for the declaration using tax boxes defined in the system that correspond to the tax box numbers to be reported in the declaration.
The application program delivered by the CSF package allows to:
The Electronic VAT Declaration utility generates an electronic report file for the tax declaration process in the form of an XML file (JPK_V7M) which is then saved and attached to VAT Declaration Report entry in Epicor Financials.
Credit memos must have a reference to the original invoice. The exchange rate, exchange rate date and tax point date are copied to the credit memo from the original invoice.
Credit memos created as a result of a return process (RMA) design to have a reference to the original invoice.
The "Controlled Credit Memo Entry" flag in the Company Configuration enables the forced validation of quantity and amount entry on the credit memo, using the original invoice as a reference.
The Red Storno feature allows the accountant to create a reversing journal by posting the debit and credit amounts as negative amounts.
The CSF Poland package installs a feature that is capable of saving very long supplier invoice numbers with more than 20 characters.
According to the Polish Waste Act, if an organization imports or exports packaging products or packaged products, they need to obtain a dedicated waste register number.
The waste register number is saved in the Company Configuration, and it is printed on AR Invoices.
In the purchase process, the VAT for certain goods should be paid to a special bank account, and the remaining invoice balance (excluding the VAT amount) should be paid to the supplier.
Customer and supplier invoices are flagged automatically for split payment if these contain specific goods. The invoices can also be flagged at the time of payment entry.
The AP bank payment file generated by Epicor Financials contains the net and the VAT amounts separately.
If the supplier has both its normal and special VAT bank account in the same bank, then the bank transfers the VAT amount to the respective special bank account automatically.
In Poland, when paying an AP invoice above a certain limit, the VAT registration number and the bank account number of the supplier should be verified through a public service. In case of an unsuccessful verification, the supplier invoice cannot be deducted as a cost and the company risks the VAT amount as penalty.
The Poland CSF package installs two application programs that check the using the public service and save a communications log.
When entering a payment for an unverified supplier, the system will give a warning message.
Intrastat is the system used for collecting statistics on the trade and movement of goods between the member states of the EU. Organizations that are VAT-registered and trade in goods with other EU member states are required to enable details of these transactions in formats including CSV, XML or IDEP.
The EC (European Commission) Sales Lists are used to report the VAT on sales between the countries in the EU. The EC Sales List contains information on sales and transfers of goods and services to VAT registered businesses in other EU countries.
EC Sales are reported by the calendar period and done on an accrual basis; therefore, the report is usually filed monthly or quarterly.
The report contains trading party information, total value of goods and services supplied in the book currency, and country code of the trading party.
The Account Statement report lists detailed transaction information for a range of accounts within a fiscal period specified. It is possible to summarize the amounts at a sub-account level.
The Balance Report lists Opening Balance Debit, Opening Balance Credit, Period Turnover Debit, Period Turnover Credit, Annual Turnover Debit, Annual Turnover Credit, Debit Balance and Credit Balance for selected fiscal period. It is possible to summarize the amounts at a sub-account level.
The Balance Sheet Report displays values for two periods. By default, previous fiscal period is compared to the opening period balances in the current fiscal year.
The Profit and Loss Report supports two options: comparative and calculation.
It displays values for two fiscal periods. By default, the previous fiscal period is compared to the same period of the previous year.
The Day Book Journal report is a list of detailed journal entries for a given period or date range.
The Purchase Report lists VAT information of purchase VAT transactions for a VAT report.
The Sales Report lists VAT information of sales VAT transactions.
The EU VAT Report exports all VAT transactions to an XML file, from the selected period with trading parties, i.e., customers and suppliers residing in other EU countries.