As your business grows and expands into Sweden, the Sweden 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 Swedish language for the solutions included in the CSF.
The Sweden 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.
Domestic and cross-border payments in ISO20022 format are supported for the Danske Bank, Nordea and SEB banks.
The payment file format for domestic and cross- border payments for Nordea in Sweden.
The payment file format for domestic and cross- border payments for bank accounts of type BankGiro in Sweden.
The payment file format for domestic and cross- border payments for bank accounts of type PlusGiro in Sweden.
Banks regularly send businesses a remittance file containing the payments made to their account by their customers. Companies can import these files and reconcile the payments from their customers to the Accounts Receivable (AR) invoices using payment reference numbers. Epicor ERP supports the AR payment remittance files in formats such as TotalIn and BankGirot. AR Credit Memos are also matched when importing these files.
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 help provide 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.
EC Sales List can be exported to a file in the SKV574008 format.
Companies in Sweden have to help provide audit files to government agencies (Standard Import och Export, SIE).
The Sweden CSF package in Epicor ERP contains two electronic interface programs to export the electronic audit data files in the SIE1 and SIE4e formats.
The SIE1 report lists the period balances in a given fiscal year for the Chart of Accounts, whereas SIE4E not only lists the period balances, but all the GL transactions for the selected periods.
Epicor ERP is able to generate AR invoices as two separate files in PDF and XML formats. These files are stored as attachments in the invoice entry application program and can be sent to customers in an e-mail as an e-invoice.
The Sweden CSF package allows to generate the e- invoice files as XML files that comply with the format "PEPPOL BIS Billing 3.0".
Using the e-invoice functionality will require some configurational changes on the customer master data and on the transaction document type.
In order to establish a smooth payment reconciliation, suppliers help provide a unique payment reference number on their AR invoices. The invoice recipients make their payments by referencing this number.
Epicor ERP can generate the payment reference numbers for AR Invoices by using the Modulo 10 calculation.
Besides the AR Invoices, the payment reference numbers on Accounts Payable (AP) invoices coming from suppliers can also be captured, validated and stored on the AP invoice in Epicor ERP.