Business Central SaaS availability, Ukrainian localization of the system and new update release
SMART business is pleased to announce the next regular update of the SMART Localization solution.
Let us start with the most important news.
Microsoft Dynamics 365 Business Central SaaS is already available in Ukraine. Right now, you can purchase licenses for “BC Online” through the CSP channel and use dual rights that is, choose to use the cloud or on-premises version of the BC.
The localization of accounting and tax accounting developed by SMART business under the legislation of Ukraine will be available for purchase from November 1, 2021. However, you can contact us (email@example.com) and order a demo and test drive today.
We strive to improve your customer experience every year, so SMART business:
- Translated the entire Business Central system into Ukrainian, so that accountants, lawyers, financial directors, HR, warehouse workers, procurement managers and auditors could work in a convenient and familiar interface.
- Brought the system into full compliance with the tax legislation of Ukraine.
- Continues to regularly create new applications that complement the functionality of the BC. For example, SMART Payroll (for automation of payroll), SMART IFRS 16 Leasing (to automatize lease processes according to international standards), SMART Procurement (automation of procurement).
The most important updates of SMART Accounting (automation of accounting and tax accounting):
- The functionality of closing the period has been optimized. Now it is one report for both closing to financial results account and closing to retained earnings account. Posting preview has been implemented for cases when the report posts entries immediately since the use of ARC is set.
- Generation of the Declaration of the single tax payer of the fourth group and an appendix to it have been developed.
- Printed forms of some documents have been redesigned using Word templates, which will make it easier to make changes to these reports, according to client requirements and specifics.
- The functionality of financial reports has been extended with the capability of using correspondence operations, which will make it easier to set up some regulated reports.
- New options for filtering and calculating totals have been added to the G/L Source Turnover page.
- Minor fixes in the functionality of VAT invoices, posting entries by orders, original currency, etc. have been made.
The main SMART Payroll updates include the following:
- Changes have been made to the calculation of the average wage in terms of the inclusion of bonuses in accordance with the Resolution of the Cabinet of Ministers of Ukraine dated September 1, 2021 No. 917 “Some issues of calculating the average wage” from September 4, 2021.
- the amounts of accrued wages, except for bonuses (including for a month) and other incentive payments based on the results of work for a certain period, are accounted for in the month for which they were accrued and in the amount in which they were accrued, without excluding the amounts of deductions for taxes, collection of alimony, etc., with the exception of deductions from the wages of persons convicted by a court sentence to correctional labor.
- bonuses (including for a month) and other incentive payments based on the results of work for a certain period, when calculating the average wage, are accounted for in the earnings of the period corresponding to the number of months for which they were accrued, starting from the month in which they were accrued.
- Electronic versions of the unified reporting on Personal Income Tax, Military Tax and Unified Social Tax have been updated, according to the order of the Ministry of Finance dated May 19, 2021 No. 278. It is necessary to report using the new form starting from the third quarter.
- For a disability certificate, it is now possible to indicate an “electronic sick leave” sign, use other reasons for disability for such sick leave, and generate a separate FSI calculation statement.
- The capabilities of integrating with Power BI reports, viewing report export from role centers, default report album have been added.
- New points of integration with SMART HCM & LMS (vacation requests, viewing payroll documents, vacation balance) have been added.
If you are already a client of SMART business, we draw your attention to the fact that the update has already been released and a letter with a complete list of new functionality is already in your mailboxes.
If you are not yet with us, we suggest filling out the form and being the first to know about new releases of the solution.
SMART business – we carefully follow all updates so that you know the most important things in time.