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.
Electronic VAT reporting - Denmark (new VAT structure)
You can use Business NXT for electronic VAT reporting automatically using the connected service Visma.net AutoReport.

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.
- 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.
  - Important information before you start
    Before starting to work with the Danish VAT reporting, there are some important concepts that you need to grasp.
  - Setup in Business NXT
    This section describes the settings to be made in Business NXT for the VAT reporting.
  - Setup in Visma.net AutoReport
    The following settings are made for connection to Visma.net AutoReport.
  - Setup in Skat.dk
    A signature need to be registered in Skat.dk for uploading the VAT report for a VAT period to Skat.dk electronically via Visma.net AutoReport.
  - VAT codes
    The standard Danish VAT codes are mapped to the Business NXT VAT codes.
  - Important fields in the VAT code table
    The following fields in the VAT code table are most important.
  - Danish VAT rates in the Standard VAT code table
    The Danish default data has been prepared with VAT rates according to the Danish standard.
  - Reporting VAT
    This section describes the steps for reporting VAT to the Danish tax authorities.
  - Statuses in the Visma.net AutoReport archive
    Reports can assume the following statuses in the Visma.net AutoReport archive:
  - Troubleshooting
    The following tables, fields, processings and flags are relevant when troubleshooting the Visma.net AutoReport integration.
- 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.

Electronic VAT reporting - Denmark (new VAT structure)

You can use Business NXT for electronic VAT reporting automatically using the connected service Visma.net AutoReport.

From July 2024 all certified ERP systems in Denmark categorized as “Standard” should report VAT in accordance with the new Danish regulations for VAT delivery. Business NXT is one of those approved systems.

The new Danish VAT report is based on the standard Danish SAF-T VAT codes. These VAT codes are updated according to the SAF-T template and stored in the Standard VAT code table in the system database in Business NXT.

The new standard for VAT reporting affects the following tables:

Standard account
Standard VAT code
General ledger account
VAT code
VAT rate

This new standard VAT setup is embedded in Denfirm.txt, the template file of data used as start-up data in the database, when establishing a new client in Business NXT.

Layout for VAT reporting

A special layout dedicated to the electronic VAT reporting for Denmark, Momsrapport Danmark, is located under Reports. All other maintenance of relevant data or executing processes are covered using common default layouts.

Two tabs in the Momsrapport Danmark layout are used:

VAT report - used to send of the VAT
VAT report return- used to withdraw the tax statement

Manual VAT reporting

If you just want to use the new VAT structure and to get a report in Business NXT for entering the numbers manually in the government portal, then you don't need to use Visma.net AutoReport. In this case, don't enable the option AutoReport processing for electronic delivery of VAT to Skat.dk, as described in Setup in Business NXT.

Migrating from Visma Business to Business NXT

The new VAT regulations and VAT reporting for Denmark have a lot of changes compared to the old routines. It is important to understand the logic behind the VAT bookings and calculations in every ERP system. The migration needs to be done together with a certified Visma partner, to avoid loss of actual ERP data.