Retail requires not only effective sales management but also accurate financial accounting, handling of VAT invoices, and compliance with Ukrainian legislation. When these processes span dozens of retail outlets, it is important to automate them and ensure that the accounting system, cash equipment, and bank terminals work together seamlessly.
SMART Retail Localization for Ukraine is a software product that extends LS Central functionality in line with Ukrainian tax legislation and accounting standards (P(S)BO) for retail. The solution improves the efficiency and accuracy of LS Central and its compliance with the regulations governing cash operations and VAT in retail. The product’s functionality covers the creation of VAT invoices both for a full day’s sales at a single outlet and for an individual receipt linked to a specific legal entity. The solution supports the cash book in electronic and printed formats, as well as integration with bank terminals for processing non-cash transactions.
Functionality and benefits of SMART Retail Localization for Ukraine
SMART Retail Localization for Ukraine automates key cash operations in the accounting and tax parts of LS Central, helping retailers reduce manual work and the resources required to process financial documents and prepare reports in line with Ukrainian regulatory requirements. The solution covers work with VAT invoices, the cash book, and payment and fiscal equipment.
Solution functionality:
- Creation of a summary VAT invoice based on a posted merchandise report
- Automatic generation of VAT invoice adjustments (Appendix 2) for returned goods
- Creation of a VAT invoice for sales below cost price
- Automatic creation of account correspondence
- Electronic cash book with reports for analysis
- Printed cash book: printing of cash receipt and cash disbursement orders
- Generation of cash book reports (KO-3, KO-4)
- Integration with bank terminals
- Integration with a fiscal cash register
- Localized system interface in Ukrainian
Cash management setup in the LS Central Store Card:
On the “Store Statement/Closing” tab, you configure how the store closes the cash shift in line with Ukrainian accounting requirements. Here you set the statement method (per POS terminal), the closing method and time, the cash declaration rules, and the account for rounding differences. Ukrainian VAT posting groups and business posting groups are linked to the store, so retail sales go straight into the financial and tax accounting of Business Central. This tab is also where you configure the safe and the starting float at the beginning of a shift, as well as cash transfers from the safe and the rules for cash collection. As a result, every outlet closes the day under the same rules, and the accounting department receives correct data without manual adjustments.
Cash operations accounting interface:
The posted store statement collects all of an outlet’s transactions for the day and posts them simultaneously in financial and tax accounting. The statement page shows the store, the posting date, and the VAT date, as well as the amounts for each payment type, including cash and cash withdrawals from the till. From here, you can open the “Summary” and “Sales by Item Category” reports, view statistics, or navigate to related entries. The localization adds VAT invoice creation to the “Actions” menu, directly from the posted statement: either one invoice for the entire statement or separate invoices for selected receipts, for example, when a customer requests a VAT invoice. This way, the store’s daily sales are reflected in tax accounting immediately, with no manual data transfer.
VAT invoices from posted store statements in SMART Retail Localization for Ukraine:
All VAT invoices and adjustment calculations (Appendix 2) generated from posted store statements are collected in a single list. For each document, you can see the number, posting date, VAT return date, issue date, and registration date. The list also shows the customer (for example, “Retail Customer”), the VAT posting group, and the amount. Each invoice links to its posted store statement, and each adjustment calculation links to the VAT invoice it adjusts. Any document can therefore be easily traced back to the daily sales of a specific outlet.
VAT invoices and adjustment calculations are also registered in the URTI (Unified Register of Tax Invoices) from here. Two methods are available: file exchange and direct integration with the URTI, so each company can choose the option that suits it best. The list thus covers the full document workflow (post, approve, register, and monitor) so that the tax accounting of retail sales is managed in one place.
Cash operations registers:
The cash operations register shows all of a store’s cash movements by POS terminal and shift. Each entry has an operation type: start-of-shift balance recording, cash receipt, cash collection, safe deposit, or end-of-shift balance recording. For each entry, you can see the amount, the posting date, and the discrepancy if the actual balance does not match the calculated one.
The information panel on the right immediately shows the balances in the safe and in the store, as well as the difference between them for each terminal. This makes it easy to spot a cash shortage or surplus before it reaches the reports. From the list, you can generate a report for the register (including in Excel), refresh the register, and recalculate the amounts based on the end-of-shift balance recording. As a result, cash accounting at each outlet becomes transparent and controlled, and the data for the accounting department stays consistent with the transactions at the registers.
Benefits of SMART Retail Localization for Ukraine
- Automation of routine operations — generating VAT invoices and adjustments, as well as creating account correspondence, helps reduce manual work in document processing.
- Compliance with local requirements — the solution’s functionality is adapted to Ukrainian requirements for VAT accounting and cash operations in retail.
- Centralized control of cash operations — information on cash transactions, payment types, and amounts is available in the system, which simplifies control over the financial operations of retail outlets.
- Detailed sales accounting — data on sales and related tax documents helps finance professionals track transactions and verify accounting information.
- Integration with payment and fiscal equipment — interaction with bank terminals and fiscal equipment helps align payment processing with cash processes.
- Convenient cash reporting — the electronic cash book, printing of cash orders, and generation of KO-3 and KO-4 reports simplify cash documentation.
- Flexibility in handling transactions and documents — the solution allows you to adapt tax document processing to different retail scenarios, simplifying the accounting department’s work and reducing manual document handling.
Who will benefit from SMART Retail Localization for Ukraine?
SMART Retail Localization for Ukraine was developed by SMART business, which has specialized for over 17 years in developing, localizing, and extending the functionality of the Microsoft Dynamics 365 ERP system for different countries, taking industry-specific needs into account. With many years of experience working with local and international retailers, the company has created a product that strengthens the business processes of companies that use LS Central and want to adapt their tax and cash processes to the requirements of Ukrainian legislation. The solution will be useful for:
- Heads of retail companies — for centralized control of financial operations and streamlining of accounting processes at retail outlets.
- Chief financial officers and finance managers — for simplifying the processing of financial documents, controlling cash operations, and preparing local reporting.
- Chief accountants — for automating work with VAT invoices and adjustments, maintaining the cash book, and generating cash reports.
Important: SMART Retail Localization for Ukraine requires an active SMART Accounting for Ukraine subscription and the LS Central module. This should be taken into account when planning the implementation.
The flexibility of SMART Retail Localization for Ukraine allows it to be adapted to the needs of different business models, ensuring compliance with legal requirements and simplifying financial control. Thanks to its localization for the Ukrainian market and integration with Microsoft Dynamics 365 Business Central, the system not only automates daily processes but also helps retailers support and scale their business more effectively in a dynamic market environment.
The product is already available on AppSource: Browse Apps | Microsoft Marketplace
