SMART business continues to expand the capabilities of the Microsoft Dynamics 365 Business Central ERP system, which makes it possible to implement and automate business processes of production, logistics, trade, retail and other companies from different fields of activity. For 15 years, the SMART business team has been developing, localizing and implementing its own solutions based on advanced Microsoft technologies. The company’s experts are aware of the intricacies of doing business in more than 60 countries and continue to adapt their acquired experience to a wider range of regions.
The new SMART Localization for Poland solution is a comprehensive tool that complements the ERP system with additional functionality for maintaining financial records in Poland. As you know, accounting and tax accounting have their own hidden complexities, depending on the specifics of business processes, the legislation of a particular country or international standards. SMART Localization for Poland takes into account both the local requirements of Polish legislation on maintaining financial records of an enterprise, and the European rules applicable to EU member states.
To implement the solution, the SMART business team involved specialists with significant experience working in Polish companies. Among them are professional outsource accountants who have worked with many counterparties and, accordingly, understand the intricacies of financial accounting for different enterprises. Also, among the experts there are specialists who have worked for a long time with leading representatives of Polish business and know perfectly well how financial accounting should be organized correctly in large companies. It is the quintessence of this experience that formed the basis of SMART Localization for Poland.
Functionality:
- Basic system settings for accounting in Poland, particularly a developed chart of accounts applicable for use in accounting.
- Integration with the National Bank of Poland (Narodowy Bank Polski) for automatic import of exchange rates using the date of the previous business day for transactions on the current date and today’s rates for revaluation of foreign currency balances.
- Integration with popular Polish banks, export and import using bank file format.
- Localized cash accounting: reports and printed forms in Polish.
- Localized sales process: prepayment invoices (Faktura Zaliczkowa), final invoices (Faktura VAT/Koncowa), credit memos (Faktura Korekta).
- Ensuring that VAT attributes are applied to invoices in accordance with the Polish Classification of Goods and Services (PKWiU) and Inventory Classifications (GTU).
- Payment separation functionality for sales and purchasing processes.
- Conducting VAT transactions in accordance with Polish tax legislation.
- Monthly and quarterly VAT reporting: functionality of the VAT register and VAT declaration along with export of reporting for submission to the tax authorities.
Numerous improvements for financial accounting:
- Advanced functionality for sales and purchasing processes:
- Transaction management and accounting,
- Posting advance payments in zlotys and foreign currency,
- Accounting for prepayment rates,
- Posting advance reports,
- Accounting for exchange rate differences taking into account IFRS requirements.
- Expanded Fixed Assets (FA) functionality:
- FA commissioning,
- FA movement,
- FA write-off,
- FA inventory.
- Operational reporting:
- Turnover on the General Ledger for analysis,
- Advanced financial reporting functionality for various sources, such as Vendor, Customer, VAT and Other Operations,
- Inventory turnover indicating quantity and amount,
- Advanced functionality for generating financial reports.
Posting Purchase KUP NKUP
PKWiU list
Prepayment Invoice Printed Form
VAT Attributes
VAT Register
VAT Deсlaration
Intrastat Report
SMART Localization for Poland is aimed at strengthening the business processes of companies operating in Poland. Localization is an addition to the Microsoft Dynamics 365 Business Central ERP system, providing a holistic approach to running a business. Thanks to the integration of various functional solutions in one environment, companies receive a wide range of capabilities within a single system, where SMART Localization for Poland provides all the necessary tools for accounting and tax accounting in Poland. Integration and integrity, flexibility and scalability, support and regular updates from SMART business make the new solution an innovative assistant in the financial activities of your enterprise.
The product is already available on AppSource: appsource.microsoft.com
Have additional questions? Order a consultation of our experts.
