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Staria Poland Localization SuiteApp

Status: Unverified

Staria Poland Localization SuiteApp includes: *SAF-T (JPK_VAT) file generation *FIFO Reconciliation for bank accounts *Integration with NBP for daily exchange rates *Polish invoicing (invoice layout and VAT detailed summary by VAT code) *Financial Statements *Payment templates *Automatic selection of tax code in sales transactions according to item VAT nature

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Description

Localization in Poland – Financial services

Staria’s Poland Localization SuiteApp is designed to perform specific financial operations and processes by local Polish requirements.

SuiteApp includes:*SAF-T file generation
*FIFO reconciliation process for bank accounts
*Integration with NBP for daily exchange rates
*Polish invoicing
*payment templates
*Automatic selection of tax code in sales transactions according to item VAT nature

Key Benefits

Everything in One
One package and everything that is essential for using NetSuite in Poland.

Fast and Easy
No more hassle with searching the key components for implementation. This is an easy and fast NetSuite localisation for the Polish market.

Best in Breed 
The collection of best practices and bullet proof concepts that works for NetSuite in Poland.

Features

Standard Audit File (SAF)
This feature allows users to generate SAF in XML format based on the records in NetSuite. The following JPK structures are supported:
*JPK_VAT with the declaration
**JPK_V7M
**JPK_V7K
*JPK on request
**JPK_KR
**JPK_FA
**JPK_MAG
**JPK_WB

Vendor Whitelisting
This feature allows users to check vendor or suppliers information in NetSuite against the list of VAT taxpayer from Ministerstwo Finansów – Krajowa Administracja Skarbowa. The users may run the validation against the list in bulk or on-demand.

FIFO Reconciliation Process
In the month end the outgoing payment entries are corrected to the exchange rate of the last unused incoming payment entries.

Integration with NBP
Daily exchange rate updates from National Bank of Poland

Polish invoicing
Invoice layout and VAT detailed summary by VAT code

Financial Statements
P&L and Balance Sheet statements

Payment Templates
Correct invoicing

European VAT codes
Automatic VAT code selection for transactions within European Community according to item VAT nature

FEATURES

SAF-T for VAT file generation

Creation of JPK_VAT record for value added tax for a specific period, which is submitted to the Ministry of Finance of Poland. The file contains a set of information on purchases and sales which result from the VAT records for the respective period.

FIFO Reconciliation for Bank Accounts

All bank entries in Poland must be booked using an actual exchange rate as provided by the bank or when lacking – an average exchange rate from the National Bank of Poland from the previous date of transaction. In the month end the outgoing payment entries should be corrected to the exchange rate of the last unused incoming payment entries.

Integration with NBP for daily exchange rates

The exchange rates between PLN and other currencies are updated daily from the designated site of the National Bank of Poland.

Polish invoicing

Invoice layout with required fields and VAT detailed summary by VAT code

Financial Statements

Income and Balance Sheet statements both in Polish and English