Implement tax exemption and compensation mechanisms for public entities in the Netherlands
Most public entities in the Netherlands are exempt from tax regarding the nonentrepreneurial activities. This means that for any purchases regarding public activities the tax cannot be send as receivable taxes. Because this creates an unfair competition regarding external services the government created the BCF (Tax compensation fund). This organization allows non refundable tax to be refunded in full or partially by the VCF BCF.
Benefits
Compute supplier invoices based on VCF BCF rule with specialized functionality
For supplier invoices, we have implemented a specialized function designed to compute the total amount based on the VCF BCF Rule. When an item is deemed VCF BCF relevant, our program employs a new tax code, calculates tax amount, VCF amount and non-deductible amount. Despite these adjustments, the total invoice amount remains unchanged. However, these modifications are reflected in the booking process with the appropriate general ledger accounts.
Integrate newly introduced tax codes seamlessly into the enhanced VAT return run
In our system, all newly introduced tax codes are readily visible within a dedicated VAT return run. Specifically tailored for the Netherlands, our VAT return run mirrors the standard procedure while accommodating the inclusion of additional tax codes. All requisite rules pertaining to tax box codes are meticulously upheld within this framework.
Provide tailored solution for dutch clients with translation services
Our solution is specifically designed to cater to our clientele situated in the Netherlands. Consequently, we provide comprehensive translation services for our solution into Dutch.
Integrate seamlessly and localize for the Netherlands public sector package
This solution is part of the Netherlands public sector package, thereby ensuring complete translation into the Dutch language. In the event of any postings, the standard fund and function fields are comprehensively considered throughout the entire process, seamlessly adapted to accommodate postings with the public sector option.
Features
Streamline VCF BCF calculations in supplier invoice documents
We have integrated VCF BCF calculations into the supplier invoice document. A new tab allows users to trigger these calculations and includes a reset button for modifications. For large invoices, users can choose a three-step process or a mass data run for efficient background processing.
Introduce a new WorkCentre with VCF BCF calculations for manual tax entry
Due to the absence of PSM release for standard manual tax entry, we have developed a new WorkCentre identical to the standard VAT entry but with VCF BCF calculations. Upon releasing a VAT entry with VCF BCF, the standard VAT entry is automatically generated with the calculated values.
Manage customizable program settings
We developed an additional WorkCentre for managing program settings, including default booking values and document release automation. This WorkCentre is fully customizable to accommodate specific customer requirements. If customer will have a special request, we can include it via this WorkCentre.
Plans and pricing
Whole Package
Installation, Configuration, Enabling all functions available.
- Minimum contract 1 year
Installation, Configuration, Enabling all functions available.
