Varnamed - NetSuite Bulgaria

BTS implemented its own NetSuite Bulgaria VAT Localization in group of companies Comforties.

Comforties is a group of 6 companies – Varnamed OOD, Comforties EOOD, Dutchblue.com OOD, Rora Real Estate OOD, Lions Intelectual Property EOOD and Medlogics EOOD. All of them with a Dutch parent company. The companies are selling goods for the health care sector and industries that handle food, cleaning and disinfection products – gloves, mouth masks, dental bibs. and clothing. More about Comforties / Varnamed

In the beginning of 2017, Comforties contacted us with regards to implementation of the Bulgarian VAT Localization developed by BTS and approved by Oracle NetSuite. The bundle represents custom developed solution, allowing NetSuite users to generate VAT reports according to the Bulgarian legislation.  NetSuite Bulgarian VAT Localization.

The VAT localization SuiteApp for Bulgaria is fully integrated into NetSuite – it functions into the system.

The Go – live of this new function for Comforties was made in April 2017.

NetSuite Bulgaria VAT Localization includes:

  • Monthly VAT Return, Purchase and Sales Ledger reports, VIES declaration. All reports are in the required by the local revenue agency format and reports on the User’s interface.
  • Reverse charge protocol numbering and PDFs generation
  • Trial balance in classic format – with starting balances, turnover for the period and ending balances
  • Integration to the Bulgarian National Bank – to bring daily rates for the BGN towards other currencies, traded by BNB and used by the customer.