Full Speed Systems (FSS) Develops Swiss Localization for NetSuite
Posted by Redfaire International
Redfaire International founding partner FSS has achieved #BuiltforNetsuite verification for their Swiss Localization - another example of how Redfaire International delivers on its value proposition of local solutions for global Oracle ERP clients.
The localization for NetSuite includes a number of adjustments to Swiss legal requirements and specificities including.
5 cents rounding: When invoicing, the final amount in Swiss francs is rounded to 5 cents. The difference is posted in the VAT. FSS has also developed a solution in case no VAT is available. The 5 cents rounding happens on the invoice printing as well as with the appropriate bookings.
Payment slip printing: When the invoice is created, an "Orange" payment slip is printed in the format 002. This contains all details and especially the reference line for further processing. The payment slip is printed on the last page of the invoice. Using a printer script, this page can be printed from another printer tray onto pre-printed paper. The solution is integrated into the existing bill printing.
QR code printing: When generating the invoice, the payment slip, the QR code, or both can be printed. The QR code is printed according to ISO20022 specifications.
Enter bill with payment slip: FSS has extended the Bill Entry program in NetSuite with its own solution so that the payment slip (or the reference line) can be recorded beforehand (also with a handheld scanner). All values from the reference line are read out and a direct address identification via partner ID is done. In addition, the booking lines of the last invoice can be proposed. With this process, it is possible to work very efficiently in the accounts payable department using the Swiss method. This function is available for vendor invoices with and without the PO reference train.
Enter bill with QR code: The Bill Entry program was extended by the function for the QR Code. It reads all information from the QR Code and suggests it into the corresponding fields.
Create Swiss payment file: With the Swiss localization of FSS, the electronic payment files for normal bank payments and for payments with a reference line can also be created automatically. See also Enter payment slip for credit. (ISO 20022).
VAT Report: This FSS solution includes a VAT report by period. The standard report after posting date is not correct for Switzerland if the period is changed manually.
VAT Validation / Reconciliation: The FSS solution includes VAT verification. So a vote between general ledger accounts and the VAT report.
VAT Flat-tax: Our solution for balance taxation meets the legal requirements. This means that the invoice is shown with normal VAT, the VAT is booked as turnover. The balance taxation is then posted and reported as a corresponding expense.
Invoice Reminder: The FSS solution includes a step-by-step dunning module that includes email delivery, forms output language control, workflow, dashboard, and dunning.
Class, Location, and Department by account: This FSS solution makes it possible to define the default per account which dimensions (class, location, department) are mandatory entries and thus helps to avoid incorrect entries. Different specifications per client/subsidiary can be defined.
Learn More about NetSuite at Redfaire International
Redfaire International implements NetSuite ERP at fast-growing SMBs that need to scale rapidly. We also help NetSuite customers who need to expand their global presence.