The legal requirement for the creation and submission of an electronic tax balance sheet (e-balance) in XBRL poses a major challenge for all companies located in Germany. Even though the new law is applicable as of fiscal year 2013 for most taxpayers, many ERP software providers, such as SAP, do not offer a satisfactory solution for complying with the comprehensive legal requirements.
The standard functionality of SAP supports only the data provisioning for the electronic tax balance. Separate add-ons are needed for the creation of the final XBRL file and the electronic submission. SAP’ s own ‘solution’ is called ‘SAP ERP client for E-Bilanz’ and is a local Excel Add-on application and not an integrated SAP solution. It does not work without the generic risk of interfaces.
These risks can be eliminated with as endgame the entire process fully integrated into SAP.
All our products are in SAP integrated products (without external interface) and have been implemented by major multinationals and of course client references are available.
The advantages of the eBilanz Cockpit
- The KEY – LiNKiT eBilanz Cockpit is an easy-to-use and lean solution for the German e-balance
- It is fully integrated into SAP, thus easily accessible while it avoids problems with generic interface risks
- The cockpit’s ten steps process, provide an intuitive guideline for the process of creating and filing the e-balance
- The cockpit has clever features, such as the drag & drop functionality for mapping the company’s chart of accounts to the required fiscal taxonomy, making the cockpit an user-friendly tool
- In order to provide a comprehensive solution for the entire corporate group, the cockpit also has an interface for non-SAP systems, enabling the upload of financial data from subsidiaries not using SAP
- All the group’s tax balances can be created in and filed from one central SAP system. Various characteristics of the cockpit ensure an audit-proof process
- The tax adjustments made in the cockpit do not influence the regular SAP data and are tracked in a separate document journal.
- Just as in SAP itself, all entries and changes are recorded, thus ensuring that the cockpit meets high standards of IT and process security, including a full audit trail.
Read more about basic data flow within the cockpit, implementation plan and return on investment opportunities in slide deck below.
- Mandatory electronic audit files: a worldwide trend? (richardcornelisse.com)
- The KEY Group measures Indirect Tax Performance and improves where necessary (indirecttaxtechnology.com)
- Case study: cross-border chain transactions and the weakness of Standard SAP (richardcornelisse.com)
- Taxmarc™: your best SAP solution for Indirect Tax Automation (indirecttaxtechnology.com)
- Everything You Always Wanted to Know About VAT in SAP * But Were Not Aware to Ask (indirecttaxtechnology.com)
- Altec Sponsors 2013 ASUG SAP Business One Summit, Fostering a… (prweb.com)
- SAP users turn to BusinessObjects but grumble about support (zdnet.com)
- Authorised SAP Training at Chennai (sapatbroadlinetech.wordpress.com)