Business NXT documentation

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Accounting
The accounting functionality enables real-time visibility into financial health, enhances accuracy in financial reporting, and facilitates regulatory compliance. Relevant transactions for book keeping, such as payments, expenses and vouchers are automatically received from the services in the Visma.net platform.
Base data
The tables in this section include base data for accounting.
VAT periods
A VAT period is a specific time frame for which a business calculates and reports its Value Added Tax (VAT) obligations to the tax authorities.
VAT period processings

Accounting
The accounting functionality enables real-time visibility into financial health, enhances accuracy in financial reporting, and facilitates regulatory compliance. Relevant transactions for book keeping, such as payments, expenses and vouchers are automatically received from the services in the Visma.net platform.
- Base data
  The tables in this section include base data for accounting.
  - Accounting period
    This table contains one row for each accounting period.
  - Accounting period processings
  - VAT periods
    A VAT period is a specific time frame for which a business calculates and reports its Value Added Tax (VAT) obligations to the tax authorities.
    - VAT period
      This table contains one row for each VAT period.
    - VAT period processings
    - VAT period reports
    - VAT period remark
      If the Norwegian VAT report includes deviations from what is usually expected, you can enter an explanation in this table.
    - VAT period remark processings
    - OSS VAT period
      This table contains one row for each OSS VAT period.
    - OSS VAT period processings
    - OSS VAT period reports
  - Voucher type
    This table contains one row for each voucher type.
  - VAT code remark
  - VAT code remark processings
    The following processings are available from the VAT code remark table:
  - VAT code explanation
    Some VAT codes require an explanation when exporting a VAT report in SAF-T format to the Norwegian tax authorities. This table stores these explanations.
  - Period key
    This table contains one row for each period key.
  - Period line
    This table is used to define shares for each period, per period key.
  - Factoring file rules and CID code rules
  - Period interval default
    This table is used to define period intervals to suggest when running accounting reports, per company or company group.
  - Factoring invoice information
    This table is used to add factoring text to electronic invoices sent using Visma.net AutoInvoice.
  - Handling accounting rules
    The accounting rules feature is used with vouchers to automatically apply accounting information to voucher lines based on predefined rule definitions.
  - Accounting rule suggester
    The Rule suggester helps you to automatically identify recurring accounting patterns based on previously updated vouchers and to turn them into usable accounting rules. This reduces manual work and improves consistency in accounting.
- Budgeting
  You can create a single budget to be used during many years ahead, but you can also enter an unlimited number of budgets.
- Vouchers
  A voucher is an accounting document that serves as a record of a business transaction and verifies certain activities or expenses.
- Incoming documents and invoices
  Incoming documents and vouchers usually arrive from other systems. They can be, for example, new supplier invoices, expense claims or payroll vouchers.
- Customer ledger
  The customer ledger is a financial record that contains detailed information about transactions between a business and its customers.
- Supplier ledger
  The supplier ledger contains detailed information about purchases, payments made, outstanding balances, and any credits or adjustments related to the supplier.
- Payment transfer
- General ledger
  The general ledger is the central accounting record of a company.
- Bank reconciliation
  The purpose of bank reconciliation is to match accounting transactions with account statement transactions from the bank.
- Capital assets
  Capital assets are any kind of property for long-term use that belongs to a company.
- Electronic VAT reporting using Business NXT - Norway
  You can use Business NXT for electronic VAT reporting, either manually or automatically using the Visma.net AutoReport integration.
- Electronic VAT reporting - Denmark (new VAT structure)
  You can use Business NXT for electronic VAT reporting automatically using the connected service Visma.net AutoReport.
- Export of SIE files
  SIE files are used to exchange bookkeeping information between different systems, including the basis for financial statements.
- Import of SIE files
  SIE files are used to exchange bookkeeping information between different systems, including the basis for financial statements.

VAT period processings

The following processings are available from the VAT period table:

Send Danish VAT report

This processing is used to upload a VAT report or a certain VAT term to Visma.net AutoReport, according to the latest Danish standard VAT codes.

Starting the processing

Select the VAT period rows you want to process.
In the Processing menu, select Send Danish VAT report.

The report is now saved in the AutoReport archive table and is ready to be sent to Visma.net AutoReport.

See also: Electronic VAT reporting - Denmark (new VAT structure)

Send Norwegian VAT report

This processing is used to upload a VAT report in the Norwegian SAF-T format to Visma.net AutoReport.

You can review the content of the XML file before sending it to the Norwegian tax authorities via Visma.net AutoReport.

Starting the processing

Select the VAT period rows you want to process.
In the Processing menu, select Send Norwegian VAT report.

The report is now saved in the AutoReport archive table and is ready to be sent to Visma.net AutoReport.

The following tables will be updated:

Table	Description
General ledger transaction	VAT-specific transactions will be updated with VAT report no..
Tax statement log	Updates are made
VAT period	VAT report no. is added to the processed row
AutoReport archive	The VAT approval status field is set to `1 - Approved` since the VAT control and batch creation is done automatically when the report has been approved by the Norwegian Tax Authorities.

If you try to do a manual approval of the VAT report from the AutoReport archive table later, you’ll see a message stating that approval has already been performed.

See also: Electronic VAT reporting using Business NXT - Norway

Set VAT year and VAT term on transactions

This processing is used to adapt VAT terms and corresponding date intervals.

Starting the processing

Select the VAT period rows you want to process.
In the Processing menu, select Set VAT year and VAT term on transactions.
In the dialog that is displayed, you can cancel the processing in case there are batches that aren't updated.