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NetSuite Polish Localization Package

Polish Localization Package (PLP) provides an extension of native functionality in NetSuite Oracle.  It is a set of designed modules intended to fully support your financial NetSuite system in compliance with the Polish requirements stated in the Polish Accounting Act. Once the PLP bundle is installed, users gain access to a wide range of transactions, entity records  and reports. All ‘PLP’ areas house custom fields and contain functionalities allowing the user to expose and capture their unique local requirements.

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PLP Module List

1. NBP automated downloads of currency exchange rates
2. JPK – Standard Audit File for Tax
3. VAT returns
4. VAT Registry
5. VAT-UE and VAT-UEK
6. Dedicated Document Templates for Sales Invoices, Credit Memos and more
7. Auto numbering for various transactions and entities
8. Trial Balance printable template
9. Accounting transaction details
10. Automated VAT register check for contractors
11. Automated bank account check for contractors
12. Contractors data download form Central Statistical Office
13. Revaluation of foreign currency account – FIFO method
14. Dedicated PLP Bank Payment Module
15. UPO – Offical Receipt Cerificate

1. NBP automated downloads of currency exchange rates

FUNCTIONALITY

New tables with exchange rates from previous working day are published by NBP each day. We enable your company to have them downloaded on a daily basis directly to NetSuite with no effort on your side.

BENEFITS

  • Up-to-date rates automatically in NetSuite each day (straight from the National Bank of Poland)
  • Elimination of manual work
  • Timesaving
  • Accurate

screenshot of NBP automated downloads

2. JPK – Standard Audit File for Tax

FUNCTIONALITY

JPK - Standard Audit File for Tax (SAF-T) available in XML or CSV format. This function gives you the possibility of  transmitting the data from NetSuite directly to the Tax Office in a standardized electronic form with qualified electronic signature.

BENEFITS

  • Preparing  Standard Audit File for Tax purposes
  • Sending the file directly to Tax Office
  • Qualified Electronic Signature integrated with NetSuite
  • Reduced risk of penalties
  • Security

screenshot of JPK_V7

3. VAT returns

FUNCTIONALITY

VAT returns together with JPK - Standard Audit File for Tax can be generated without using external tools and sent directly to the Tax Office. Available in PDF and XML formats. Overall, PLP offers recognition and support for all types of transactions related to Polish VAT.

BENEFITS

  • User-friendly
  • Fast & accurate
  • No external tools needed
  • All transaction types avaiable
  • Safe archive for your generated returns

screenshot of VAT returns

4. VAT Registry

FUNCTIONALITY

A widely available options supporting daily work, with the possibility of reporting in terms of correct VAT records and their settlement. Finally, the data can be transferred in a validated form to the Ministry of Finance.

BENEFITS

  • Universal Tax Codes describing each type of transaction
  • Reports confirming the correctness of the transaction records
  • A dedicated tool supporting the correct division of VAT amounts
  • Direct transmission of the declaration to the Ministry of Finance

screenshot of VAT registry

5. VAT-UE and VAT-UEK

FUNCTIONALITY

Prepared especially for our clients who perform transactions in the European Union. The VAT-EU declaration is generated automatically using data direclty prepared within our PLP in NetSuite. By extending the standard functionalities, you can get an XML file ready to be sent to the Ministry of Finance.

BENEFITS

  • Compliance with the VAT Act
  • Compliance with the requirements of the Ministry of Finance
  • Preparation of declaration data based on data entered to NetSuite  on a regular basis.
  • Preview of collected declaration data

screenshot of VAT UE

6. Dedicated Document Templates for Sales Invoices, Credit Memos and more

FUNCTIONALITY

  • Sales Invoices
  • Purchase Bills
  • Credit Memos
  • Amendment Notes
  • Proformas
  • Duplicates

BENEFITS

  • Polish accounting standards are met
  • All documents and printouts can be generated using NetSuite standards

screenshot of dedicated document templates

7. Auto numbering for various transactions and entities

FUNCTIONALITY

Independent document auto numbering that meets the requirement regarding the use of specific numbering for different transactions and entities within your company.

BENEFITS

  • Numbering continuity for given document types
  • Customized prefixes
  • Transparency in your books register

screenshot of auto numbering

8. Trial Balance printable template

FUNCTIONALITY

Dedicated printable template for the Trial balance (including turnovers). Tailored to mirror the Polish chart of accounts and meet all the client’s requirements.

BENEFITS

  • Reflects the Polish Chart of Accounts
  • The printout presents accounts entries in accordance with Polish standards for both analitical and synthetic accounts

screenshot of trial balance template

9. Accounting transaction details

FUNCTIONALITY

The list, thanks to a rich set of filters, allows for a detailed analysis of data available in the system. This module allows you to extract the data from standard transactions and transfer it to extensive reports for the management board.

BENEFITS

  • Automated use of data available in the system
  • Various data filtering options
  • The ability to save the results in several universal formats

screenshot of accounting transaction

10. Automated VAT register check for contractors

FUNCTIONALITY

Automatic verification of contractors in the VAT register. Provides crucial information for businesses indicating if the supplier is an active VAT payer.

BENEFITS

  • One click of a button to verify the contractor’s VAT
  • No need for external tools

screenshot of automated VAT

11. Automated bank account check for contractors

FUNCTIONALITY

Automatic verification of a bank account number in the Tax Office register. Provides crucial information for businesses indicating if the supplier’s bank account number is on the White list.

BENEFITS

  • One click of a button to verify the contractor’s bank account number
  • No need for external tools

screenshot of automated bank account

12. Contractors data download form Central Statistical Office

FUNCTIONALITY

We enable you to download  contractor’s data, such as name, address and company registration number, from the Central Statistical Office (GUS) directly by using our PLP in NetSuite.

BENEFITS

  • Fast Validation
  • All within NetSuite
  • Accurate data

screenshot of contractors data download

13. Revaluation of foreign currency account – FIFO method

FUNCTIONALITY

Revaluation of a foreign currency account using FIFO method gives you the possibility to adjust your bank account balance in PLN to the current value of the indicated day (based on the last historical incoming payments – FIFO method).

BENEFITS

  • An automatic process that does not require external tools
  • Calculations made on the basis of data from transactions in NS
  • Supports all currencies

screenshot of revaluation of foreign currency

14. Dedicated PLP Bank Payment Module

FUNCTIONALITY

Dedicated PLP Bank Payment Module which provides  Split Payment recognition – specific Polish requirement enforced last year. Additionally you are given the possibility to check the White List whenever planning to send a batch payment to your bank.

BENEFITS

  • Up to date information on the correctness of your supplier’s  bank account registry
  • Payments integrated
  • The comfort of preparing and verifyng your payments

screenshot of dedicated PLP bank payment

15. UPO – Official Receipt Cerificate

FUNCTIONALITY

Possibility of sending declarations and JPK files to the server of the Ministry of Finance - prepared using functionalities available in PLP. It enables the automatic use of available signatures and the receipt of the Official Receipt Certificate called UPO.

BENEFITS

  • Sending prepared data without having to use other programs
  • Receipt of the official confirmation of sending the file by the authority
  • Uploaded files blocked for further edition after being sent to the authorities

screenshot of UPO

Transactions supported by PLP

  • Proforma
  • Invoice
  • Credit Memo
  • Debit Memo
  • Vendor Bill
  • Credit Bill
  • Amendment Note
  • Expense Report
  • Vendor Prepayment
  • Journal Entry
  • Amortization Journal Entry
  • Intercompany Journal Entry
  • Advanced Intercompany Journal Entry
  • Book specific Journal
 

If you need support in the scope of IT solutions, optimization or localization of the Oracle NetSuite system, please contact our expert:

e-mail: netsuite@rsmpoland.pl

tel. +48 61 8515 766

fax +48 61 8515 786