Overview

Staria’s Poland Localization SuiteApp has localized features for business needs specific to Poland. These features help your company adapt to business practices and comply with regulations or requirements.

Features

Standard Audit File (SAF)

This feature allows users to generate SAF in XML format based on the records in NetSuite. The following JPK structures are supported:

• JPK_VAT with the declaration

  • JPK_V7M - JPK_VAT structure with the monthly declaration

  • JPK_V7K - JPK_VAT structure with the monthly quarterly declaration

The JPK_V7 XML file can be sent directly from NetSuite. The successful submission is confirmed by receiving the Official Receipt Certificate called UPO. The receipt confirmation is saved in the system. The JPK V7 file can also be downloaded in Excel format.

• JPK on request

  • JPK_KR - book of accounts

  • JPK_FA - VAT invoices

  • JPK_MAG - warehouse

  • JPK_WB - bank statement

The XML file can be downloaded from NetSuite. The file may be submitted using the JPK WEB Client tool.

VAT UE

If a Polish VAT-registered business completes an intra-community supply or a sale to another EU VAT-registered business of goods or services across the Polish border, then this may have to be reported in the ESL. There is no reporting threshold.

ESLs are filed in Poland monthly for goods once sales go over PLN250,000 per quarter for supplies or PLN50,000 for acquisitions. Otherwise, it is quarterly filings for goods. For services, the returns are filed quarterly. The filing date is the 25th of the month following the reporting period (monthly/quarterly) end. Paper submissions have an earlier deadline of the 15th of the month following the reporting period.

This feature lets users prepare, preview, and download the report in NetSuite.

FIFO Revaluation for Bank Accounts

In most cases, when you enter foreign currency bank transactions, it is valued at the exchange rate at the date of the transaction. Entities in Poland are required to perform currency revaluation periodically. Foreign currency-denominated bank accounts in Poland must be revalued using the First-In, First-Out (FIFO) method.

The out-of-the-box currency revaluation feature from NetSuite can only revalue transactions based on the current rate at the end of the period. For this reason, Staria Poland Localization enables users to generate revaluation entries from NetSuite based on the FIFO method.

Vendor Whitelisting

This feature allows users to check vendor or supplier information in NetSuite against the list of VAT taxpayers from Ministerstwo Finansów —Krajowa Administracja Skarbowa. Users may run the validation against the list in bulk or on demand.

Exchange Rate Integration

This feature automatically retrieves the exchange rates of foreign currencies against PLN based on a defined schedule. This updates the currency exchange rates list in NetSuite.

Invoice and Credit Memo PDF Layout

The SuiteApp includes localized invoice and credit memo HTML/PDF layout. This displays the required fields and VAT detailed summary.

Polish Invoice Correction Process and Printout

Additional information must be displayed or reported when creating correction invoices. The Poland Localization SuiteApp includes a feature that aims to help create correction invoices more conveniently while fulfilling the invoice and reporting requirements.

Examples

Trial Balance Report

Books of accounts include a trial balance of general ledger accounts. Although NetSuite has a native trial balance report, it does not include all the information required in a trial balance report based on Chapter 2 of the Polish accounting law. This feature helps users to generate a trial balance report in PDF format.

VAT Sales and Purchase Report

Based on Chapter 2 of the Polish accounting law, companies should keep a subsidiary ledger that includes sales and purchase transactions with sufficient detail to meet tax requirements. This feature helps users generate a PDF VAT report for both sales and purchases.

General Ledger Report

General Ledger is a complete record of transactions per account. It shows transactions sorted and subtotaled by account during a fiscal period or other period you specify.

The general ledger is already available in NetSuite. However, the standard version of this report does not have all the details required to meet the rules of Poland, which needs a more detailed analysis of accounts. To fix this, extra information is included in a new version of the General Report specifically designed for reporting in Poland.

Journal of Evidence Report

The Journal Evidence Report records all financial transactions as they occur chronologically, given a specific reporting period for an entity. It is used to reconcile its turnovers with the balances of the general ledger accounts. This report meets the basic legal requirements of the Polish Accounting Act:

• Entries in the report are numbered consecutively, and

• The sums of entries (turnovers) are counted continuously.

• The entries are linked to verified and approved accounting documents.

• The entries are automatically assigned a number based on when it was entered into the journal.

• The accounting program used and the person responsible for the entered content are defined.

AR and AP Subledger Reports

The Poland Subledger Report provides a comprehensive and customizable tool for financial professionals to analyze and understand the detailed transactions occurring within the AP and AR subledger modules. Its flexibility, advanced filtering options, and visualization features make it a robust financial reporting and decision-making tool.

Financial Statement Layout

The SuiteApp includes financial statement layouts for Income Statements and Balance Sheets in English and Polish.

Payment File Templates

The SuiteApp provides EFT Payment File Templates designed to work with several Polish banks and can be used in NetSuite’s Electronic Bank Payments solution.

Compatibility