As your business grows and expands into the Portugal, the Portugal 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:
The Portugal 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.
In Portugal, a series of documents need to be signed digitally. Four characters of the digital signature must be printed on documents. The “Proforma Invoice”, “Customer Shipment”, “Miscellaneous Shipment”, “Transfer Order Shipment”, “Sub-Contractor Shipment”, “AR Invoice and Credit Memo” are digitally signed in Epicor Financials by installing the Portugal CSF package.
For AR invoices and Credit Memos the digital signature is automatically performed by Epicor Financials, when the transactions are posted to the General Ledger (GL).
The e-invoice format used in Portugal is supported, featuring the digital signature, a QR-code and the respective URL.
Businesses operating in Portugal will have to enable a tax exemption reason code for each AR invoice and credit memo line, if the tax amount is zero for the given line.
Epicor Financials enables the entry of tax exemption reason codes manually for each line. The process can be automated by the tax reason code on the header level.
The official tax exemption reason codes are installed by the Portugal CSF package in Epicor Financials.
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.
For each shipment in Portugal, an electronic transport document must be generated and sent to the Tax Agency.
As a reply, the Tax Agency generates an authorization code, which should be stored in the Epicor Financials system, and it must be also printed on the shipment documents.
Businesses operating in Portugal have to enable the status of their inventory items at the end of each fiscal year.
The Stock List report is generated in the form of an XML file which includes the opening and closing balances for the year with quantities, as well as the current value for all inventory items, including the Work In Progress (WIP) items.
The Stock List report is developed with the Electronic Reports module.
In Portugal, all businesses need to enable three types of SAF-T report files to the Tax Authority.
After installing the Portugal CSF, a new electronic report is available with multiple selection criteria such as book, fiscal year, fiscal period, and more.
The SAF-T report was developed with the Electronic Reports module.
The Portugal CSF package installs the Portuguese language for the UI forms and reports included.