As your business grows and expands into the Netherlands, the Netherlands CSF helps to keep your Epicor Financials system compliant from day one to save time and expense. The CSF package contains the most used financial and operational functionalities in the country including:
It also supports the Dutch language for the solutions included in the CSF.
The Netherlands CSF package supports several payment formats for domestic and international payments.
The objective of SEPA is to help ensure that payments within Europe are as simple and efficient as those that occur within a single country. The SEPA payments use the Euro currency. Almost all European countries support the SEPA payment format, even those where the domestic currency is not Euro.
The unified SEPA Credit Transfer payment method replaces the previously used local payment systems denominated in Euro in Europe, both for domestic and cross-border payments.
The electronic interfaces for SEPA take the specifications from banks such as ING, ABN Amro and RaboBank in the Netherlands into account when generating the payment files.
The SEPA Direct Debit is a pull-based payment method that allows a business to directly withdraw the payment from its customers bank account, for which a mandate needs to be signed by the customer. The debtor and the issuer of the invoice must each have an account with a Payment Service Provider (PSP) located in the SEPA area.
The Netherlands CSF package contains an Electronic Interface (EI) to export the GL journal entries in a report known locally as the Auditfile Financieel, XAF. The XML file is saved to the path defined in the report entry in Epicor Financials.
The VAT Declaration report is locally known as "Omzetbelasting (OB)."
The Electronic VAT Declaration functionality in the Netherlands CSF package enables the company to submit the VAT declaration directly to the government portal.
The report gathers the amounts for the declaration using tax boxes defined in the system that correspond to the tax box numbers to be reported in the declaration. The application program delivered by the CSF package allows to:
The Electronic VAT Declaration utility generates an electronic report file for the tax declaration process in the form of an XML file, based on the XBRL format, and this file is then saved and attached to VAT Declaration entry in Epicor Financials.
Intrastat is the system used for collecting statistics on the trade and movement of goods between the member states of the EU. Organizations that are VAT-registered and trade in goods with other EU member states are required to enable details of these transactions in formats including CSV, XML or IDEP.
The EC (European Commission) Sales Lists are used to report the VAT on sales between the countries in the EU. The EC Sales List contains information on sales and transfers of goods and services to VAT registered businesses in other EU countries.
EC Sales are reported by the calendar period and done on an accrual basis; therefore, the report is usually filed monthly or quarterly.
The report contains trading party information, total value of goods and services supplied in the book currency, and country code of the trading party.
Businesses need to submit their international trade statistical declarations directly to Statistics Netherlands. In The Netherlands CSF package, two reports are supported, one for domestic trade and another for international trade.
The Intracommunity Performance Report is locally known as the "Intracommunautaire Prestaties (ICP) EC Sales report.
With the Intracommunity Performance Report, all businesses can declare the total amount of goods and services sold to other EU countries to the government.
The ICP report generation and submission to the government portal or DigiPoort happens directly from within the Epicor Financials application program. The report data can be filtered to a specific fiscal period and year.
The application program generates an XML file in XBRL format for the ICP report which is saved and attached to ICP Report entry in Epicor Financials.