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Italian Accounting Localization Bundle for NetSuite

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Italian fiscal and accounting laws are complicated. Which is why the Clustin Italian Accounting Localization (IAL) bundle for Oracle NetSuite was designed from the outset to meet the requirements of an ever-changing accounting system. It not only resolves mandatory obligations but also helps the accounting team with everyday business operations. For global companies with Italian subsidiaries to be able to fully exploit the financial aspects of NetSuite within their organization, it is essential to have the IAL. Developed to allow Italian business requirements to be integrated within NetSuite, bringing it in line with local requirements while allowing the wider organization to function effectively at an international level.

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Description

Italian Accounting Localization

The Italian Accounting Localization (IAL) bundle drastically simplifies accounting operations, which are otherwise complicated by complex and ever-changing Italian fiscal and accounting laws. For global companies with Italian subsidiaries to be able to fully exploit the financial aspects of NetSuite within their organization, it is essential to have the IAL Bundle. This software has been developed by Clustin to allow Italian business requirements to be integrated within NetSuite, bringing it in line with local regulations and requirements while allowing the wider organization to function effectively at international level.

Key Benefits

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From the outset the IAL has been developed by Clustin to enable companies to exploit all the financial tools within NetSuite while allowing them to meet local Italian fiscal and accounting requirements.

One System, No Limits for Italian Companies

By providing regional functionality for Italian subsidiaries, international companies are safe in the knowledge that their Italian business can meet local statutory requirements while still operating efficiently and complying with the Groups global needs.

The bundle is continually updated with new features designed specifically to handle accounting requirements in Italy and it is automatically aligned to NetSuite upgrades.

Best in Breed with Proven End-User Adoption

A collection of best practices developed through years of NetSuite experience, the IAL works for all Italian companies by ensuring that basic data meets the requirements laid down by Italian fiscal and accounting law.

Trust in a team that understands Italian requirements and knows how to localize NetSuite to get the best from the platform 

Our qualified specialists will  ensure you get the functionalities you need to run the business. Whether that’s with a straightforward implementation or a more tailor made service, we are here to help.

Unique Value Proposition

IAL is an indispensable financial tool which is constantly evolving to take account of changes made to Italian legislation and to improve the ease with which the end user can work with NetSuite.

FEATURES

VAT Management & Reporting

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Behind the management and reporting of VAT (e.g. settlement, registers, reverse charge etc) lies a complex set of data collection requirements and number sequencing for tracking tax documents such as invoices, credit notes and transportation documents.

The IAL bundle ensures relevant documents are correctly recorded with mandatory fields to capture compulsory information. Clients gain piece of mind knowing registers and documents are entered correctly and are automatically compliant without the need for further manual intervention.

Electronic Tax Reporting

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The Italian authorities continue to extend electronic reporting requirements with Intrastat, Certificazione Unico & Spesometro to name but a few. The IAL is kept up to date to ensure companies can meet these requirements by the deadlines laid out.

E-Invoicing & Payment Traceability

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In some respects, Italy is leading the way with electronic invoicing as a way to manage VAT collection. With the IAL companies can meet mandatory obligations for B2B invoicing.

Electronic Payments

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Like many countries in the EU, the file formats for SEPA and RiBa payments in Italy are unique. Additional information is also required for companies to manage payment traceability and installment on both account receivables and payables.

Multiple Due Dates

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Invoice payment times in Italy are among the longest in the world and with 10% of invoices paid after 90 days, inevitably the prevention and management of non-payment become important objectives.

Thanks to the tools provided by IAL including full integration with SEPA & RiBA payment functions, the accounts department can effectively manage cash flow by controlling expiry dates for debits and credits and taking account of agreements to pay in installments.