By managing all accounting data and information in a centralized way, Si5 enables to integrate assets and liabilities, to manage commissions and financial flows.
Management of corporate groups
Si5 allows to create a model by defining fiscal entities connected to one another and within each one, with the possibility to manage elementary units of accounting analysis which can correspond or not to productive operating units.
Multi-company administration enables to manage automatically accounting flows among the different fiscal entities making up the group, by exchanging documents about assets and liabilities and automatic transfert of financial operations.
Si5 allows to manage financial years through the following features:
- Business defined parametrically and uncomitted to solar year
- Possibility of several businesses over the same solar year
- Overlapping business with updating interactive stocks
- Management of closed fiscal years
Group accounting and divisional accounting
Si5 represents as better as possible the company or group in which it operates. It’s possible to define parametrically the standards of both fiscal entities and operation units which make them up in order to carry out an unique and integrated structure both administrative and managerial, seeking a global vision of the group by analysing all different details.
Multi-company configuration is supported by structures making automatic intercompany flows of both invoicing and payment and processing information of operations which are required for consolidation.
Implementation of specific needs of foreign countries
The specific fiscal needs of the different countries have been added as parametrical features in the standard structure of the product to allow:
- plant management in centralized functions, including accounting plan, if possible
- use of the procedure in multinational environment in an unique physical installation
- control structure sharing
data exchange among different environments and countries:
- directly for financial information
- through reclassification for accounting data based on unequal charts
- Through set-up, it defines the specific fiscal needs of the corporate homecountry
Discharges obbligations of the accounting law:
- keeping statutory books
- VAT management
- income measurement
- allows movement input
- accounting of scrap book
- allows payments and receipt from account book
- deals with the function of tax substitute
- releases institutional management press
- User-definible accounting journals :
- unique journal – national fiscal model,
- unique fiscal journal – register, management
- journals with parametricable protocolg.
- Choice of account currency and parametric management of exchange treatment.
financial year management
- fiscal consolidation,
- management consolidation,
- management of accounting period overlapping, even if multiple
- parametric management of consolidated accountig periods for management reasons
- automatic functions of closing and reopening
The procedure operates for the balance sheet :
- a multilevel parametric and hierarchical – structure based on the chart of accounts
- six different scheduling reclassifications
- Several ways to represent reclassifications in printing process
VAT- value-added tax
- VAT Management according user-parametricable rules to respond to different fiscal regulations of foreign countries
- management of deduction and taxability competences
- tax counting over financial transaction,
- management of corporate deductible tax or transaction
- parametricable structures for conspectus.
- Management of executed transactions by a national subject with TAV ID number, as for:
- advanced stocks
- tax representative
The administrative procedure operates for each fiscal entity having an account currency which can be in both divisive and multiplicative exchange rate regime . All transactions can be handled in a foreign currency from the account one and in this case the system stores correlated information of currency code, exchange, date of reference of exchange and then processes account statements and analysis in the original currency of the transaction.
Payments or receipts in a different currency define the immediate valorization of exchange differences, on deposit and VAT codes as well. The system allows to recalculate VAT codes in foreign currencies with balanced exchange rates, through definition of fluctuations in exchange and accounting statements both resumed or detailed for VAT code, according to taxation.
In order to seek the greatest ability of management analysis, transactions in foreign currencies can be accounted by highlighting exchange variances as for budget exchange rate.
International tax system
The unit enables to keep accounts obeying to tax laws of the main countries in Europe, North Africa and South America, according to income and property. The use in the different countries is supported by a multi-lingual format for all levels, including the possibility of translating personal data and transactional ones.
Sorma carries out plans of its clients operating in international environments, by maintaining the control and administration of the group in the motherland. The pecularity of foreign localizations consists in their realization as parametrical elements of a central installation and not as versions of the application for each country.
In order to reach these goals:
- Uniqueness of database to guarantee integration and integrity of information both operative and control;
- Possibility to access to branch data, often in countries where delocalization reaches its highest, in its own language not only for charts but also for file contents;
- Replicability of information structures in countries with uniform tax procedures (for example in range of EU)Replicabilità delle strutture informative in paesi a fiscalità omogenea (per esempio nell’ambito dell’Unione Europea)
- Possibility to use at the same time different accounting principles and accounting standards of both income or anglosaxon proprietary over the same application environment.
- Possibility to define tax typology on VAT :
- parametric structure of mandatory accounting books
- Choice of account currency and exchange rule ( divisive or multiplicative)
- Management in local currency for all types of transactions.
- Processing of the main currency of the accounting in divisive or multiplicative exchange regime
Self bill invoice management
The procedure seeks the management of documents emitted by Community clients to define the value of the actual bill concerning supplied material in case of front-end warehouses. It only deals with proprietary data related to credit, without referring to any information concerning receipts or taxes, both belonging to the issue of the original document, according to fiscal laws in force.
- Management control
- Assets management
- Fees to third parties
- Patrimonial accounting
- Customers management
- Bill portfolio
- Factor management
- Supplier management
- Commission and royalties
- Cash flows
- Invoices Payable