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 using Business NXT - Norway
You can use Business NXT for electronic VAT reporting, either manually or automatically using the Visma.net AutoReport integration.
Creating a batch for VAT payment
You can create a VAT payment batch based on the information received from Altinn using Create VAT payment in the AutoReport archive table.

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.
  - VAT report parameters
    The following fields need to be entered in Business NXT to be able to send VAT reports to the tax authorities:
  - Using Visma.net AutoReport
    You can use Visma.net AutoReport to make the VAT reporting more efficient.
  - Sending a VAT report using Visma.net AutoReport
    The following steps describe an overview of how to send a VAT report using Visma.net AutoReport.
  - Creating a VAT report
    This topic describes the different steps in detail, needed to create a VAT report.
  - Creating a batch for VAT payment
    You can create a VAT payment batch based on the information received from Altinn using Create VAT payment in the AutoReport archive table.
  - 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.
- 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.

Creating a batch for VAT payment

You can create a VAT payment batch based on the information received from Altinn using Create VAT payment in the AutoReport archive table.

This processing creates a batch based on the XML content, VAT control supplier and VAT control account. The batch is always created with today’s date. After the batch has been updated, a payment suggestion can be done for the supplier with other open payments.

To automate creating a VAT payment batch, you can enable the Process VAT payment messages automatically setting in the AutoReport processing field in the Company information table. Whenever payment information is received from Altinn, a batch will be created based on this.

You can also automate the batch update by setting Automatic batch update of VAT payment messages in the AutoReport processing field in the Company information table.

If you check the Direct update of VAT control flag under Finance in Company information / Accounting instances, the VAT payment batch will be updated once the payment information is received and updated in the Visma.net AutoReport archive. The download happens automatically.