S4FN Provides the solution for Norwegian SAF-T inside SAP. Create the SAF-T report with the legal XML format.
What is Standard Audit File-Tax (SAF-T)?
SAF-T is a standard format for the exchange of accounting data. The standard is the result of a joint development collaboration between the business community, the accounting sector and the Norwegian Tax Administration, based on a recommendation by the OECD. The standard specifies what accounting data is to be exchanged, and also the structure of the data.
The SAF-T Financial is limited to the general ledger, the accounts payable and receivable transactions including all applicable master data.
It is not a requirement that SAF-T reporting must be an integrated part of the existing system solutions. It is possible to prepare reports in SAF-T format with your own tools.
From 2020, the requirement to provide financial information in the SAF-T format applies upon request by the Tax Authorities. The company is compliant if it can produce financial information in SAF-T format within a reasonable time after being requested to do so by the Tax Authorities.
INTEGRATED SAP SOLUTION FOR SAF-T
You can create the SAF-T report without any manual intervention
You can manage the files in the secure environment of SAP
It frees you from the need to use external software
S4FN provides a human-readable format of SAF-T reports so you can validate them before sharing
If you have more than one entity, manual management of them out of SAP can be problematic. It would be very manageable if you use a centralized solution instead.
S4FN solution is an on-premise solution you don’t need any external cloud system to depend on
Implementing a SAP project may require too much time and effort. With S4FN we minimized the effort by providing an add-on that is focused on generating and validating your SAF-T reports.