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NetSuite - Localization Package Serbia - Balkan Servcies

NetSuite - Localization Package Serbia

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Balkan Services has developed and successfully implements the NetSuite cloud-based ERP solution localization package for the Republic of Serbia, which fully complies with the Serbian accounting standards and legislation.

Our company is an official Oracle NetSuite partner with a “Solution Provider” status, which gives us the right to implement the software in 6 countries in the Balkans, including on the territory of the Republic of Serbia. Balkan Services has also developed localizations for NetSuite ERP for Bulgaria, Romania and North Macedonia.

With over 32 000 companies in more than 200 countries that use Oracle NetSuite, this is the world’s most preferred cloud-based ERP system.

This solution allows you to manage and optimize all key business processes in the company with just one system.

NetSuite ERP is a suitable ERP solution for companies operating within a given country and for international organizations with offices in different countries. In order to work with the business management system in different countries, you need to configure the system according to the local legal and accounting requirements.

Serbian localization package for NetSuite ERP

Services

The localization package for the Republic of Serbia covers:

VAT

  • Full coverage of the requirements of the VAT Act and Regulations implementing the VAT Act;
  • Possibility for unlimited number of tax codes, VAT rates, and reasons for applying zero VAT or VAT exemption in one and the same document;
  • Printed forms in Serbian language of the tax documents (invoice/debit note/credit note/protocol), including a table with grouped tax rates, tax base, and reasons for applying zero VAT or VAT exemption;
  • E-Faktura - automated daily export of all invoices to official E-Faktura portal;
  • Import VAT according to customs declaration;
  • Special handling of VAT for transactions with advance payments.Reporting of deliveries when the tax is due by the recipient (reverse charge);
  • Preparing VAT registers, a declaration (POPDV and PPPDV) — printed forms of all official documents, export to PDF;
  • Preparing all electronic files according to the formats defined in the Regulations implementing the VAT Act;
  • Locking tax periods after submitting the registers; 
  • Compatibility with Multibooking, including in cases where Secondary Accounting Book is used for local (Serbian) accounting purposes;
  • Compatibility with NetSuite OneWorld (the localization package works only with Serbian companies without changing the functional settings of the other companies in the multi-company environment);

 

Exchange rates of the National Bank of Serbia(NBS)

Automatic update of the exchange rates to Serbian Dinar in the system using actual rates from the official NBS website, immediately upon their publishing by the NBS. 

Additional Options

  • Delivery-cost allocation folders – an extension of the NetSuite “Landed Cost” standard functionality with the ability to merge multiple delivery documents and several documents for accompanying expenses, adjustments according to the exchange rates and cost allocation on the source delivery documents;
  • Definition of custom Electronic Bank Payments export format according to specific bank requirements (if Advanced Electronic Bank Payments module is used in Netsuite);
  • Development of Financial institution parser scripts for parsing the electronic bank statements files as part of Netsuite “Match bank data” procedure.
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Borislav Mirchev, Viscom BG AD, Balkan Services' client - balkanservices.com
Borislav Mirchev
Borislav Mirchev CEO and shareholder, VISCOM BG CORP.

It's too hard to cover the big picture through different systems. That's why we've decided to deploy a modern ERP system that integrates as much as possible all business processes and all of our companies."

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