Please review the new features available below for the Finance Module on the Release notes for 2021 R2 (Version 12.0.26):

Click on the link to Release notes at the bottom of the page.

Fixed assets improvements to simulated depreciations

In the Depreciation simulation function (FASSIMU), you can run the simulation on actual or provisional asset disposals.

In the Depreciation simulation inquiry (CONSSIM) you can track:

• Complementary tax depreciation amounts (provision and reversal) when selecting the Accounts depreciation plan.
• Tax reinstatement depreciation amounts (provision and reversal) when selecting the Finance depreciation plan.

Use these new columns for tacking:

• FY provision total
• Period provision total
• Period provision
• FY reversal total
• Period reversal total
• Period reversal

Expense creation from fixed asset

Use the Expense creation utility (ULOFCRE) to automatically create a linked expense to a fixed asset not already linked to one.

This bulk process (Fixed Assets > Utilities > Expense creation) allows you to select standalone assets based on custom criteria. For each asset, an expense is created and linked to the asset using the relevant fields.

Using this utility, you can add new expenses to the asset to manage improvements or modernizations of the asset as allowed by some regulations.

Warning: As with any utility, no extensive controls have been implemented. It should be limited to authorized users.

Tax Framework: VAT return inquiry

Use the VAT return reporting inquiry (CONSDCL) to search for extracted amounts linked to a VAT return. Search criteria include:

• VAT form, to include the declaration and the legislation
• VAT entity
• Date ranges
• VAT type (VAT on debit or on payment)
• Amount type (VAT excluded or VAT amount)
• VAT boxes (from the VAT form or the actual VAT boxes)

Results display in a grid that summarizes the VAT boxes entered for each company.

VAT on debit details and VAT on payment details sections display related journal entries for the line highlighted in the result grid. You can drill-down to the journal entries from these grids.

For each company, you can see the extracted amounts for a return where the VAT boxes, amount types, and reporting period are different from the VAT return.

Bad debts and A/R write-offs improvements

You can manage the entire bad debts process, which includes defining the types of bad debts managed (impairment, doubtful receivables, and write-offs) and the automatic journals and analytical dimensions applied for journal entries.

This functionality is protected by the BADBT – Bad debt management activity code.

In the Bad debts inquiry function (CONSBDT), you can search for all existing bad debts and filter by type, entity, company, and dates.

When a you create a write-off, the related open item can no longer be used. If there are impairments created for this open item, an impairment reversal is automatically created.

Note: Theses automatic journals are not available for French companies.

Currency conversion variance: Triangulation between currencies

The Conversion variance function (CNVECAR) can run calculations using a pivot currency.
Conversion variances are calculated through triangulation rather than through direct conversion from the transaction currency. With this option, the calculation is made from the transaction currency to the pivot currency to the ledger currency.

The Pivot currency field is optional and only displays when the Assessment method is By account balance.

Customer advance invoice

In the Prepayment invoice function (GESPREPI) in the A/P-A/R accounting module, you can create, post, and pay prepayment invoices. You can set up customer contract data with relative amounts and specific invoice types for prepayments and the final invoice.

The invoices are created in the Customer BP invoices function (GESBIC).  Dedicated automatic journals are used for posting prepayment invoices, prepayments linked to a contract, and for transferring amounts from prepayments to the final invoice.

When a final invoice is created for a contract, the contract is closed.

From the Customer BP invoices function, you can print payment details using the following reports:

• BPCINVPRE – Prepayment invoice
• BPCINVFIN – Final invoice

Legislation-specific details:

For German legislation, the accounting code line for tax has been added: VAT not due. The tax amount is posted to the VAT not due account until the amount is paid in full.

For Portuguese legislation, the two reports are not approved and would need to be approved before a Portuguese company can deploy them.

For French and American legislations, this feature is not available.

Link to Release Notes