The ERP accounting module is designed to automate general accounting operations, providing flexibility and utility to both SMBs ( small and medium businesses ) and to large enterprises with more complex activities (with many branches and locations, dealing with various currencies).
SeniorERP is updated according to the Romanian legislation in force and it is also aligned to the international accounting standards. The module allows recording of all primary documents and provides all financial statements corresponding to all yearly financial activities, according to European standards.
Foreign currency operations meet all usual requirements, including automatic generation of exchange rate differences. Also, all accounting notes are generated at working point level so it is possible to issue the accounting balance at work point level, if necessary.
After the SeniorERP implementation, an overwhelming percentage of all accounting records are generated automatically, according to the desired configurations. In exceptional cases, it is necessary to operate corrective accounting notes or, if not all the modules of the application were purchased, to manually introduce specific notes. Even the introduction of these accounting notes may be easily done according to predefined layouts, so that the user will only have to fill in the amounts.
Although the accounting notes are automatically generated upon operation of a document, if specific parameters have been changed later, it appears the need for collective regeneration of accounting notes related to affected operations. It is also the place where you can validate, invalidate the documents globally, with the possibilities of selecting the types of operations and the desired period.
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For example, when selling subscriptions in advance, every month a part of the revenues in advance and the related un-chargeable VAT becomes effective and due. In this sub-module there is the possibility to automatically / manually choose which revenues or expenses are effective in the selected month and regulate VAT accordingly.
It is important to clarify that in case of legislative changes, if the accounting notes created before the change are regenerated, they will respect the settings available at that moment, modifications becoming active only when desired.
There are situations when primary documents (i.e. consumption bill, inventory) can generate different accounting notes depending on the context in which they were issued (i.e. protocol consumption bill, depreciation, composition, etc.).
The SeniorERP engine used to generate accounting records provides a very simple way of combining accounting notes to documents according to selectable causes (that can be defined by case) which led to the issuance of that document. Not selecting a specific cause leads to the generation of the default account note associated to the document.
It mainly covers activities specific to closing monthly accounting operations. For example: VAT closing, Income and Expenses closing etc. These operations are recommended to be carried out after prior having run automated verifications at the end of month. If for example, a closing of the income and expenses has been run and an unregistered record has been revealed, the operation can be resumed after the creation of that document. Also, after these operations have been performed and verified, it is recommended to close the month, in order to guarantee that the data will not be modified.
The accounting operation of closing a month involves extensive verification by the accounting department. During implementations we identified different types of such checks and we have automated them. These checks, along with the ability to create, validate, close or reopen a fiscal month are covered by this module. You can simultaneously operate several months, as long as they are not closed.
SeniorERP statements can be exported in XML format for validation and submission with the help of the system from the Ministry of Finance website.
It allows the calculation of the VAT return monthly, quarterly, half-yearly or annually. When calculating the statement, all documents with generated accounting note are considered and also company data and the main CAEN code (if set) are brought automatically. Rows 3.1, 17.1 and 27.1 can be calculated using the wizard that takes over the amounts from the related statements (394 and 390).
390 Statement is conducted quarterly and submitted to the 25th of the following month after the end of the quarter, only for the periods in which such operations actually occurred. Through this document are declared:
• Intra-Community supplies carried in bilateral contractual relationships, operation symbolized with the letter L;
• Intra-Community supplies carried in a triangular contractual relationship, operation symbolized with the letter T;
• Acquisitions, operations symbolized with the letter A.
Acquisitions can be:
– Carried out in a bilateral contractual relationship;
– Carried out in a triangular contractual relationship.
It refers to the deliveries/service performance and purchases carried out on national territory. Any taxable person registered for VAT purposes in Romania is obliged to declare half-yearly all the deliveries and performed goods and services as well as the purchases of goods and services made on the Romanian territory to or from other persons on the territory of Romania, also registered and taxed for VAT purposes.
The 394 Statement has to include:
√ All taxable transactions that were made on the Romanian territory with other taxable persons registered for VAT in the country where the bills were issued, including advance bills.
√ All operations with deductible VAT performed in Romania.
√ All operations included in bills that were issued for retail sales.
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