NetSuite Romania VAT
NetSuite Bulgaria Localization / NetSuite Romania Localization

NetSuite Romania Localization (Native SuiteApp)

We have developed the only approved by Oracle NetSuite localization package for Romania

Why You Need NetSuite Romania VAT Localization bundle

If you are running a Romania-based business in Oracle NetSuite, you will need to report to the Romania National Revenue Agency (ANAF) for your activity. The NetSuite Romania Localization SuiteApp covers several from the obligatory reports in Romania.

The solution allows the Oracle NetSuite ERP users with Romania-based subsidiaries to create reports intended for ANAF directly from Oracle NetSuite. The Bundle supports the following reports: D300, D390 and D394 and Purchase and Sales ledger reports.

Using NetSuite Romania VAT Localization, no connectors or integrations are needed – all is built within the system and works with the database directly. The reports can be run multiple/unlimited number of times, directly from Oracle NetSuite.

How BTS NetSuite Romania Localization extend NetSuite itself

Using your Oracle NetSuite data and the customizations from the NetSuite Romania VAT Localization bundle all Romania-based companies can report their VAT related activities to the National Revenue Agency. These reports are a must–have for all VAT-registered companies in Romania, without exceptions. There is no manual workaround that could easily support the creation of these reports outside the system.

NetSuite Romania Localization includes features as follows (list is not exhaustive):

  • Reports for the National Revenue Agency (ANAF) – D300, D394 and D390 in xml format.
  • Purchase and Sales Ledger Reports – for internal and external audits and reconciliations.
  • Multi-book Oracle NetSuite feature is supported by the bundle, VAT can be reported from primary or non-primary book.
  • Automatic classification of transaction records.
  • The localization package supports unlimited numbers of VAT scenarios – intracommunity acquisitions and sales, reverse charge purchases, partial tax credits, reduced rates purchase and sales, etc.
  • Integration to Banca Națională a României for daily FX rates of the RON towards currencies published by BNR and used within the Oracle NetSuite system of the customer.
  • Integration to ANAF – it allows you to pull your customer’s or supplier’s data directly from ANAF while you are creating the record within Oracle NetSuite.
    • The customers and suppliers’ records get updated daily with the latest information for them form ANAF – you always have the most up to date information for the organizations that you deal with.
    • Daily email alert for changed entity data to designated customers.
  • Multi-column trial balance
    • Starting/Ending balance and turnover for the period – per GL account.
    • Export to Microsoft Excel.
    • Grouping by Class and Sub-class.
    • Multi-Book Oracle NetSuite feature is supported by this report.
    • Accounting context feature is supported – the report can be run in Corporate or Local Gl account numbers and names, depending on the needs of the users.

And others.

What are the Benefits of using NetSuite Romania Localization bundle?

  • VAT Returns (D300 and D394) as well as VIES (D390) in xml format for all Romania-based subsidiaries that can be submitted to the local tax authorities (ANAF) directly. The .xml files of the reports get prepared within Oracle NetSuite and do not require any additional work outside the system before their submission to the tax authorities – just like you would prepare them in any other local software.
  • The solution automatically maintains the transaction records in order to classify them correctly for their representation in any of the three VAT reports, as well as in the Sales and Purchase Ledger Reports. Transaction entering after enabling the Bundle in your system will not be changed. The Bundle can cooperate with your current transaction processing and will not add complexity to it.

List of BTS’ Developments approved by Oracle NetSuite