Norwegian SAF-T SAP Solution
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 communicty, 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 on SAF-T-format with your own tools.
From 2020, the requirement is to provide financial information in the SAF-T-format applies upon request by the Tax Authorities. The Company is compliant if it is able to produce financial information in SAF-T format within 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 manage the files in secure environement of SAP
- It frees you the need to use external constancy
- S4FN provides humand readble format of SAF-T reports to validate them before sharing
- If you have more than one entity manaul management of them out of SAP can be problematic. It would be very managable 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 can need too much care and effort. With S4FN we minimized the effort by providing an add-on which is focused on generating and validating the SAF-T reports.