Staria Poland Localization SuiteApp

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Features

Standard Audit File for Tax (SAF-T) – JPK (Jednolity Plik Kontrolny)

The ability to generate JPK files is crucial for businesses in Poland, ensuring compliance with the Polish Tax Ordinance and Ministry of Finance regulations. JPK is a Polish format of an electronic file that meets the international standard SAF-T.

The Staria Poland Localization SuiteApp supports various JPK structures, including:

• JPK_VAT with the declaration

  • JPK_V7M - JPK_VAT structure with the monthly declaration (including Amendment)

  • JPK_V7K - JPK_VAT structure with the monthly quarterly declaration (including Amendment)

• JPK_KR - book of accounts

• JPK_FA - VAT invoices

• JPK_MAG - warehouse

• JPK_WB - bank statement

Businesses can efficiently generate and download these files in XML format from NetSuite and submit them via the JPK WEB Client tool.

JPK_V7

JPK_V7 (Jednolity Plik Kontrolny VAT) is a mandatory VAT reporting requirement in Poland. It combines the previous JPK_VAT file and VAT return into a single electronic file submitted to the tax authorities. JPK_V7 is required for all VAT-registered businesses and includes detailed sales and purchase transactions. It consists of two main types:

• JPK_V7M (for monthly VAT payers) or JPK_V7K (for quarterly VAT payers)

• JPK_V7K filers must submit monthly transaction details, with the full VAT return submitted quarterly.

The file must be submitted in XML format and includes specific GTU (commodity and service classification) codes, transaction markers, and additional tax-related details."

Generate the JPK_V7 report in XML format that follows the official structure required by the tax authority. Users may also download the report in Excel format for easy review. Both monthly (JPK_V7M) and quarterly (JPK_V7K) reporting are supported, including corrections.

The report utilizes NetSuite tax codes for accurate mapping, and flexible mapping options allow users to adjust the configuration to align with their data structure. Additional fields, such as GTU codes, sales and purchase evidence symbols, and other mandatory data points, are included to meet compliance requirements.

Users can generate and review the report directly within NetSuite before submission, ensuring accuracy and reducing manual work. The solution also includes automatic VAT calculations, minimizing errors and saving time in preparing the report.

VAT UE

For VAT-registered businesses in Poland engaged in intra-community supplies or sales to EU VAT-registered entities, compliance with the ESL (European Sales List) is crucial. This feature enables users to prepare, preview, and download the VAT EU report directly from NetSuite, helping minimize audit risks and ensuring timely compliance with VAT Act and EU regulations.

Exchange Rate Integration with the National Bank of Poland (NBP)

Polish law mandates using the exchange rate from the previous day for foreign currency transactions. This integration automates the retrieval of daily exchange rates from NBP, ensuring accurate and compliance financial reporting. It updates the currency exchange rates list in NetSuite, facilitating compliance with Polish regulations.

Vendor Whitelisting

Vendor Whitelisting feature enables companies to verify whether their vendors or suppliers are registered as VAT taxpayers with the Krajowa Administracja Skarbowa (Polish Tax Administration) before making the payment. This process is vital as Polish tax law stipulates that if a company pays a vendor who is not on the official "whitelist" of VAT-registered businesses, the company may not be able to deduct the VAT from that transaction, leading to potential tax liabilities.

The SuiteApp enables on-demand and scheduled checks of vendor registration status by VAT Number and verifies Bank Account Number.

FIFO Revaluation for Bank Accounts

The FIFO (First-In, First-Out) Revaluation for Bank Accounts is a requirement in Poland for managing foreign currency bank accounts according to accounting regulations. This method mandates that foreign currency accounts be revalued based on the applicable exchange rates at the transaction dates, prioritizing the oldest transactions first. This method is favored in Poland as it helps businesses generate more precise financial reports, reflecting the actual cost of foreign transactions over time.

Polish Invoice PDF Templates

Poland Localization SuiteApp provides enhanced Polish Invoice PFD Templates to meet the requirements set forth by the VAT Act and Polish Accounting Act. Templates include:

• Standard Invoice & Credit Memo

• Advanced Invoice

• Correction Invoice

Invoice PDF Templates are available in both English and Polish.

Examples

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Payment File Templates

The SuiteApp generates Payment Files aligned with bank requirements to be used in line with NetSuite’s Electronic Bank Payments solution. Available as standard for the following banks:

• PKO Bank Polski

• MBank

Creation of payment templates for banks not found in the list above is also possible, but subject to an additional customization.

Split Payment

The Poland Localization SuiteApp in NetSuite ensures businesses can handle split payment requirements by automating the process. It helps in identifying transactions that fall under the split payment regime, separates the net and VAT amounts, and manages the required bank transfers to comply with Polish VAT laws. This automation minimizes errors and ensures adherence to split payment regulations.

Reports

Financial Statement Layout

Poland Localization SuiteApp provides Balance Sheet and Income Statements layouts, which are designed to work for general Polish companies but can easily be configured and used as starting templates.

Balance Sheet and Income Statement are available in both English and Polish.

VAT Sales and Purchase Report

The SuiteApp enables businesses to produce a detailed VAT report that includes all sales and purchase transactions in line with local tax requirements. Polish law requires businesses to submit periodic VAT returns that detail their sales (output VAT) and purchases (input VAT). This feature ensures that the VAT Sales and Purchase Report is generated in a format that complies with Polish law. The report can be generated in PDF format directly in NetSuite.

VAT Sales and Purchase Report is available both in English and Polish.

Trial Balance Report

NetSuite’s native Trial Balance Report does not fully meet the requirements of Chapter 2 of the Polish Accounting Act, which outlines specific details that need to be included in financial reports. Poland Localization SuiteApp ensures generation of a Trial Balance report that includes all the necessary information and details ensuring compliance with Polish regulations. The report can be generated in PDF format directly in NetSuite.

Trial Balance Report is available in both English and Polish.

General Ledger Report

The General Ledger (GL) Report in NetSuite is a stardard financial report that provides a detailed record of all transactions, categorized by account. While this standard NetSuite GL report covers basic transactional information, it does not meet the more detailed and specific requirements mandated by Polish accounting laws. Under the Polish Accounting Act, businesses must maintain a highly detailed ledger that provides a complete record of all financial transactions. The report can be generated in PDF format directly in NetSuite.

General Report is available in both English and Polish.

Journal of Evidence Report

According to the Polish Accounting Act, all financial transactions must be recorded in the order they occur. This journal records all financial transactions chronologically and serves as the primary log for tracking financial activity within an organization. This helps in maintaining a clear and auditable trail of financial activities. The report can be generated in PDF format directly in NetSuite.

Journal of Evidence Report is available in both English and Polish.

AR and AP Subledger Reports

The Accounts Receivable (AR) and Accounts Payable (AP) Subledger Reports provide a comprehensive and customizable tool for financial professionals to analyze and understand the detailed transactions occurring within the AP and AR subledger modules. With advanced filtering options and visualization features, this SuiteApp supports robust financial management and reporting in the Polish context. The report can be generated in PDF format directly in NetSuite.

AR and AP Subledger Reports are available in both English and Polish.

Feature Roadmap

https://staria.atlassian.net/wiki/spaces/SPLS/pages/1337131062

Compatibility