From the 2013 financial year onwards, companies are required to submit their balance sheets and profit and loss accounts to the tax office electronically. In order to comply with the tax requirements for electronic financial statements, many companies will need to make significant adjustments to their financial accounting software.
E-balance sheet with Opti.Tax
hsp Handels-Software-Partner GmbH, a provider of software-based compliance solutions, offers Opti.Tax, a software programme that enables companies to submit their balance sheets electronically to the tax authorities in accordance with the regulations. To enable the creation of e-balance sheets in Microsoft Dynamics, hsp has entered into a strategic partnership with COSMO CONSULT AG, a leading provider of business solutions based on Microsoft technologies. The aim of the collaboration is to provide an integrated solution for creating e-balance sheets directly within Microsoft Dynamics NAV (Navision) and AX (Axapta). The cc|e-bilanz solution includes all the taxonomies required by law for the submission of tax-relevant data.
The workflow
As a rule, the commercial balance sheet is prepared in Microsoft Dynamics NAV/AX and can be generated using cc|e-bilanz as a tax balance sheet in XBRL format, in accordance with which the electronic balance sheet must be submitted to the tax office. Intelligent functions support data preparation. For example, you can optionally generate a breakdown of certain account balances by tax rates. Plausibility checks ensure the data is complete and that all requirements for the annual accounts are met. A reconciliation statement, or the journal entries leading to the tax balance sheet, are created and archived in cc|e-bilanz. Once the tax balance sheet has been finalised, you can run a simulation that replicates the audit routine of the Elster Rich Client (ERiC) carried out by the tax authorities. Legislative changes, such as an extension of the taxonomy, can be incorporated into cc|e-bilanz as an update.
About COSMO CONSULT AG
COSMO CONSULT AG, with over 180 employees, specialises in the implementation and system management of sector-specific and business software based on Microsoft technology. Its sector-specific focus is primarily on medium-sized manufacturing and service companies. A comprehensive range of certified sector-specific and add-on solutions based on the Microsoft Dynamics NAV and AX ERP systems is available to these companies.
German 
English