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.
Scope:
The SAF-T Financial is limited to the general ledger, the accounts payable and receivable transactions including all applicable master data.
Compliance:
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
PROS:
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You can create the SAF-T report without any manual intervention
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You can manage the files in the secure environment of SAP
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It frees you from the need to use external software
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S4FN provides a human-readable format of SAF-T reports so you can validate them before sharing
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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.
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S4FN solution is an on-premise solution you don’t need any external cloud system to depend on
CONS:
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.