As your business grows and expands into Thailand, the Thailand 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 reports in the country including:
The tax engine supports multiple VAT rates. Taxes can be recognized and posted to the General Ledger (GL) either at the time of invoicing or at the payment (partial or full payment). A monthly VAT Report is available in Epicor Financials.
Epicor Financials has a flexible engine to manage multiple Legal Number series. These number series are used for several Document Types, where the counter needs to have a well-defined structure, based on the Revenue Department requirements.
The AR/AP Legal Number TH Report helps to review the applied legal numbers.
The AR Tax Receipt document is printed upon the receipt of a tax certificate and a payment from a customer. The tax certificate and the AR payment receipt are associated with this AR Tax Receipt document. The AR Tax Receipt document can be linked to one or more AR invoices. The AR Tax Receipt document number is used on withholding tax reports.
Similarly to the VAT, the Withholding Tax (WHT) can be calculated and posted to the General Ledger (GL) either at the time of invoicing or at the payment (partial or full payment).
It also allows for capturing the details of "One Time Supplier" at a transactional level while booking AP Invoice or AP payment without having to store their details in the Supplier master screen. Withholding tax applicable for each of these One Time Suppliers are calculated and wherever required, the WHT certificate and WHT reports are generated.
The Withholding Tax Certificate can be printed in Epicor Financials. The following WHT reports are supported:
The Thailand CSF package also installs a functionality to generate a file with all the WHT data in .CSV format, to help filing these online to the Revenue Department (tax body in Thailand).
The Stock Card report shows the periodic stock card, with details on inventory movements and balances per warehouse for the selected period.
The Lower of Cost or Net Realizable Value (LCNRV) report shows the difference between the cost of an individual part/part class and its Net Realizable Value (NRV).
All reports installed by the Thailand CSF package are available both in English and in Thai languages. Other reports that can be generated from the system are:
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.
In certain cases, businesses are still waiting for the tax invoice from their one-time-supplier when they need to generate the monthly VAT report in Thailand. If the tax invoice number and date are not received or not known, the related transactions cannot be listed in the monthly VAT report. The Suspense VAT Report lists all VAT transactions without a tax invoice number and a date, so businesses can take action and make tax adjustment journals.
When the tax invoice arrives from the one-time-supplier, this report helps to reverse the adjusted transactions listed in the Suspense VAT Report.