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Software applications support users in transparent and rapid adoption of the new payment system of value added tax (VAT)

Date: 04/08/2015
The financial-accounting management component of the integrated package SIVECO Applications 2020 Project: Cloud can be easily adapted to changes that occur in the legislation

Bucharest, 08th of April 2015 – Companies can adopt the new payment system of value added tax (VAT) using the integrated information system SIVECO Applications 2020 Project:Cloud – the accounting management component.

„Our business management system is 100% Romanian and is therefore easily adapted to the changes occurring in the legislation. Through the Financial Accounting Management component the VAT logs are updated according to the implementation rules of the Tax Code, and on their basis is operated the VAT return (Statement 300) that is submitted each month to the Tax Administration. Any legislative change concerning the VAT can be implemented easily. The application’s accounting mechanisms are configured so that the adoption of new rates to be implemented very simple by any client”, says Alexandru Mihail, Technical Leader SIVECO Applications.

The Financial-Accountant Management component - part of the integrated package SIVECO Applications 2020 Project:Cloud – provides a unified control of financial flows of primary documents and a complete financial-accounting evidence at synthetic and analytical level. At any time, monthly closing operations can be simulated and disclosure and summary documents, required by law, can be automatically printed.

The Financial-Accountant Management component has a multi-level scalable architecture, ensuring any economic activity performance tracking. The module interacts with all the other system components through complex work flows. Any value information resulting from the business activities is reflected immediately in the Financial-Accountant Management component.

About SIVECO Romania
SIVECO Romania develops and exports software products and consultancy projects with high added value to countries within the European Community, The Middle East, North Africa and the CIS area.

SIVECO Romania is specialized in developing large and complex IT projects for education, health, agriculture, customs organizations, European institutions, private companies and public sector.

During its over 23 years of activity, SIVECO Romania received more than 200 national and international recognitions and prizes.

More information about the company and its products is available at www.siveco.ro and www.linkedin.com/company/siveco-romania.

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