Balkan Services has developed and successfully implemented a Bulgarian localization package for the world’s most popular cloud-based business management solution – NetSuite.
The localization of the ERP system is implemented and used in order to adapt the software to the Bulgarian accounting standards and legislation, as well as its smooth functioning on the territory of the country.
Balkan Services has successfully completed the implementation of the localization package for Bulgaria in the international IT company Sitecore, which is the sixth successfully implemented project. The solution covers VAT, Intrastat, BNB exchange rates, and some additional options. The Bulgarian localization for NetSuite ERP fully complies with the requirements of the VAT Act and the Rules for Implementation of the VAT Act, the Law on Statistics of Intra-Community Trade of Goods and the Ordinance on the Implementation of the Intrastrat System. The module allows for generation of all electronic files according to the required formats (VAT logs, declaration and VIES declaration, Receipts and Dispatches) and automatically updates the exchange rates to BGN according to the official website of the BNB. The localization package also provides compatibility with the multi-company version of NetSuite OneWorld, upgrading only the Bulgarian companies in the system and in no way affecting the implemented functionality in the other divisions. The package also works in a Multibooking environment, complying the reports only with this accounting book, which maintains accounting according to local legislation and in local currency, allows the preparation of Accounting and Tax Depreciation Plan (ADP and TDP) and offers other additional features that are in compliance with the Bulgarian legislation and accounting practices.
With more than 18,000 customers in over 200 countries, NetSuite is the most preferred cloud ERP software in the world. It supports 190 currencies, 27 languages and automatically calculates taxes due in over 100 countries.
Balkan Services has been an official partner of Oracle NetSuite with the status of Solution Provider since 2015. Learn more about the Bulgarian localization for NetSuite ERP.