Country Specific Functionality (CSF) Australia

Overview

The Australia CSF package contains localized report formats and files that enable the generation of local sales invoices, credit memos and payment files. It supports the following processes:

• Electronic Funds Transfer (EFT) processing for Accounts Receivable (AR) and Accounts Payable (AP) payments
• Deposit slips processing
• Compliance with the Australian Goods and Services Tax (GST) and BAS (Business Activity Statement) reporting requirements
• Support for BPay for both AP and AR transactions

Key Features

Some of the key features includes the following:

• AP Electronic payments
• AR Electronic payments (direct debit)
• Specific layouts for AR Tax Invoice/Credit Note and AR Customer Statement report
• GST Support (Tax setup, Tax box setup, and AP Tax inclusive)
• EFT remittance advice, Cheque remittance advice

EFT Processing

The Australia CSF package enables the generation of electronic payment files for the supplier AP payments and the customer AR receipts. The AP Payment, AR Payment and BPay Electronic Interfaces (EIs) are used for the EFT processing. BPay payment services are widely used in Australia that enable electronic fund transfers to the bank of the supplier from the bank of the payer.

• If an AP payment or AR receipt includes a withholding tax, the withholding tax amount will be added to the export file

Tax Invoice/Credit Memo/Tax Box Report

To meet the local legal requirements, the Tax Invoice, Credit Memo, Customer Statement, and the Tax Box Report documents are modified to be able to print additional information such as the Tax ID and more.

Goods and Services Tax (GST) Processing

Epicor Financials features a robust and flexible Tax Engine comprising the Tax Box Maintenance, Tax Type Maintenance, Tax Liability Maintenance and Product Tax Category Maintenance that help to achieve GST and Business Activity Statement (BAS) compliance. To comply with Australian taxation requirements, companies are required to file a BAS statement to the tax authorities. The Tax Box report will help in meeting this requirement.

Payment Processing

The AP payment processing program allows to print cheques or generate electronic payment files for all payments.

For EFT processing in Australia, an electronic bank export payment file is generated for suppliers set up for EFT payment.

Similarly, on the AR side, it produces an electronic bank export receipt file for customers set up for EFT payment.

Non-BPay payment methods are supported for the following banks: ANZ, BWA, CBA, CCD, NAB, STG, WBC.

Arbitrary payment methods can be created that comply with different bank import file standards either by customers themselves or by the Epicor Custom Solutions Group (CSG).

BPay for AP

BPay is an electronic payment system widely used in Australia now supported by the Australia CSF package in Epicor Financials.

The following bank payment integrations are supported with new Electronic Interface (EI) programs, installed by the Australia CSF package in Epicor Financials:

• Australia and New Zealand Banking Group (ANZ)
• National Australia Bank (NAB)
• Commonwealth Bank of Australia (CBA)
  • Bankwest (formerly: Bank of Western Australia, BWA)
• Westpac Banking Corporation (WBC)

BPay for AP is available in Epicor Financials 10.2.600 and later versions.

Bpay properties support 3 scenarios:

• Multiple Biller Codes and Unique Reference
• Single Biller code and Unique Reference
• Single Biller code and Static Reference

BPay for AR

If the Australia CSF is installed, the AR invoices can show the BPay logo along the Biller code and the Reference number. This functionality supports the single Biller code and the unique reference number for each customer.

Epicor Financials can import the BPay payment receipts coming from the banks to process customer payments.

BPay for AR is available in Epicor Financials 10.2.600 and later versions.

Payment Terms Reporting Scheme (PTRS)

The Payment Terms Reporting Scheme (PTRS) was introduced in 2020. Under this scheme, large businesses and government enterprises are required to report their payment terms and practices with small suppliers. The PTRS plans to improve payment times for Australian small businesses by publishing information on payment performance of large businesses and creating incentives for improving payment times.

Reports

The Australia CSF package supports the following reports and documents:

• AR Invoice and Credit Memo
• Cheque Remittance Advice
• Customer Statement
• EFT Remittance Advice
• Tax Box Report