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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...
December 10th, 2024 2 min read
Major Update 2024.10/4 for SMART Accounting and SMART Payroll
Major Update 2024.10/4 for SMART Accounting and SMART Payroll
We are pleased to announce the release of Major Update 2024.10/4! The updates are aimed at resolving issues identified after the release of version 2024.10 and include tasks related to legislative changes and improving overall system performance and stability. The main changes are as follows: The mechanism for calculating compensation liabilities has been improved for situations where the VAT amount is adjusted on the invoice via the “Statistics” functionality. The VAT difference entered is taken into account when calculating compensation liabilities. Changes have been made to the Item Write-off Act and the Posted Item Write-off Act: new fields have been added to the “Vendor No.”, “Purchase VAT Invoice No.”, “Purchase VAT Invoice Line” lines. These fields will be filled in automatically wh...
December 10th, 2024 3 min read
Microsoft announces changes to the upgrade process from spring 2025
Microsoft announces changes to the upgrade process from spring 2025
Microsoft has announced that the recently released version of Business Central BC25 will be the last one to which you can directly upgrade from versions BC14-24. Starting with version 26, scheduled for release in March-April next year, an additional step will have to be taken when upgrading from versions prior to BC25. More about the new Business Central version upgrade process in the context of “what it was – what it will be” Microsoft Dynamics 365 Business Central (BC) is a popular solution for small and medium businesses, which is constantly updated to improve functionality and security, and compliance with regulations. Users have the option to upgrade their Dynamics NAV or Business Central to any existing release using the following scheme: BC14 – BC24 -> BC-latest Dynamics NAV (pre...
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