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March 4th, 2025 9 min read
Implementing Dynamics 365 Business Central in Czechia: An Overview of Microsoft Localization by SMART business
Implementing Dynamics 365 Business Central in Czechia: An Overview of Microsoft Localization by SMART business
Today, Czechia is a country with an EU-integrated economy, demonstrating stable growth and a dynamic small and medium-sized business sector. As forecasted by the Czech Ministry of Finance, the country’s GDP is expected to grow by 2.3% in 2025, significantly exceeding the 1.1% growth recorded the previous year. Another factor contributing to the country’s economic attractiveness is active government support. At the beginning of 2024, the government approved the creation of the State Investment and Development Agency (SIRS). Additionally, in 2024, a new Economic Strategy was adopted, comprising over 150 measures related to legislation, financing, collaboration with the business sector, and capital markets. With its economic stability, advantageous location, and strong government support, Cze...
February 24th, 2025 3 min read
SMART Schedule Rename – A Simple and Free App for Master Data Updates
SMART Schedule Rename – A Simple and Free App for Master Data Updates
Master data, which includes information about products, customers, suppliers, and employees, is used in many business processes and plays a crucial role in management decision-making. Therefore, high-quality master data ensures business control and predictability. Updating master data in response to business process changes or legal requirements; integrating data from different sources in case of company merges; rebranding or changing the name of a product or customer; and simply correcting errors made during initial data entry – these are just a few scenarios where renaming is required. Without specialized software, this process is time-consuming and prone to errors. SMART Schedule Rename Functionality The free SMART Schedule Rename application is a simple and convenient tool for automati...
February 18th, 2025 2 min read
Minor Update 2025.01/2 for SMART Accounting
Minor Update 2025.01/2 for SMART Accounting
We are pleased to announce the release of Minor Update 2025.01/2! This partial update addresses issues identified after the release of version 2025.01. It also includes tasks related to legislative changes and improvements in system performance and stability. The main changes are as follows: The logic for generating journal entries when applying the “Net Customer/Vendor Balances” function for offsetting liabilities has been improved. The ability to set a filter by vendor and customer contract number has been added when using this functionality. An error in filling in the original currency has been fixed when the exchange rate’s ratio to the local currency is less than one. The “Accounting Certificate” and “Correspondence Check” reports have been adapted to reflect the numbering of correspo...
February 17th, 2025 8 min read
SMART Cash Flow Release — A Solution for Effective Cash Flow Management
SMART Cash Flow Release — A Solution for Effective Cash Flow Management
SMART business continues to implement new solutions to automate key business processes. Today, we are presenting SMART Cash Flow — a comprehensive tool for effective cash flow management that provides a high level of control over the company’s financial liabilities and cash movement. With this solution, finance departments can make accurate and timely payment planning, which is critical for maintaining the stability of business processes. This tool will be especially valuable for companies that handle large volumes of financial transactions, as the system allows real-time tracking of company transactions, ensuring maximum transparency and control over financial flows. Features of SMART Cash Flow SMART Cash Flow helps optimize financial management at key stages: from planning and allocating...
February 3rd, 2025 11 min read
Implementation of SAF-T UA Reporting: What Changes Will Occur in E-Audit, and How Does Automation Ensure Readiness for Them?
Implementation of SAF-T UA Reporting: What Changes Will Occur in E-Audit, and How Does Automation Ensure Readiness for Them?
Today, integrating the best international practices into Ukraine’s tax system focuses on developing e-audit, which enhances transparency in working with financial reporting. Let’s delve into the details of implementing the Standard Audit File for Tax, or SAF-T – a file format developed by the Organization for Economic Co-operation and Development (OECD) to standardize tax reporting and facilitate audits by tax authorities. The SAF-T format has already proven its effectiveness in many countries, including Portugal, France, Luxembourg, Austria, Germany, and others. SAF-T UA could become a powerful tool for Ukrainian businesses, reducing costs for both the state and companies while improving the efficiency of the State Tax Service (STS). Moreover, the SMART SAF-T UA solution will help compani...
January 30th, 2025 4 min read
The Importance of Updating an ERP System for Business Development
The Importance of Updating an ERP System for Business Development
In today’s fast-paced business environment, maintaining an updated ERP system is not just a technical necessity but a strategic imperative. Drawing on SMART business`s many years of experience working with international and local clients across various industries and countries, we have seen firsthand how an updated ERP system can significantly contribute to business growth and efficiency. From our perspective, companies that embrace regular, incremental updates to their ERP systems avoid the pitfalls of technical debt and functionality gaps. These businesses follow a steady path of progress, making small but consistent improvements with each system update. In contrast, other companies take the opposite approach – freezing the update process for several years and then undertaking a massive...
January 30th, 2025 3 min read
Minor Update 2025.01/1 for SMART Accounting and SMART Payroll
Minor Update 2025.01/1 for SMART Accounting and SMART Payroll
We are pleased to announce the release of Minor Update 2025.01/1! This partial update addresses issues identified after the release of version 2025.01. It also includes tasks related to legislative changes and improvements in system performance and stability. The main changes are as follows: The printed form of the TTN and the eTTN have been updated according to the Order of the Ministry of Communities, Territories, and Infrastructure of Ukraine No. 1332 dated November, effective from January 03, 2025. The filling of the field “Source Document Period” for Table 2.2 D1 of the VAT Declaration has been changed. Now the field is calculated using the Appendix 2 issue date. The number of decimal places has been increased to 12 for displaying the prices in Tax invoice document. Fixed an error tha...
December 31st, 2024 5 min read
January 2025 updates for SMART Accounting and SMART Payroll
January 2025 updates for SMART Accounting and SMART Payroll
Updates for Ukraine, Azerbaijan, Georgia, Cyprus, and Poland are released every 3 months. If changes in the legislation are urgent, SMART business releases urgent unscheduled updates. All updates can be installed independently or with the help of SMART business. The VAT Declaration form and Appendices 1-6 have been updated in accordance with the Order of the Ministry of Finance of Ukraine No. 400 dated August 9, 2024, "On Amendments to Certain Regulatory Acts of the Ministry of Finance of Ukraine." The XML export has been updated in line with the new versions of the forms. Changes have been made to the integration with M.E.Doc for Sales VAT Invoices and Sales Appendix 2 in accordance with the new versions: Tax Invoice — J1201016, Appendix 2 — J1201216. The functionality of accounting for V...
December 16th, 2024 4 min read
Challenges of the Digital Age and the Role of ERP Systems in Business Success
Challenges of the Digital Age and the Role of ERP Systems in Business Success
Technological progress and emerging challenges demand complete automation of business operations. Systems based on outdated approaches are losing relevance as they fail to meet the requirements of the modern world, where technologies are evolving rapidly, and new products and business models are constantly being created. Consequently, the demand for entirely different systems is growing. In many countries, this transformation is happening gradually. Businesses are transitioning from traditional systems to modern, advanced solutions that offer not only software for accounting and reporting but also comprehensive systems to support the business as a whole. What does this mean? Modern businesses require new tools to tackle essential tasks and overcome challenges. Accounting is no longer a sta...
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