SAP Add-On Solution Norway SAF-T

S4FN provides a solution for the Norway SAF-T financial regulation inside SAP.  Legal SAF-T XML is generated inside SAP.  No upgrade or update is required. All required objects are shared via single transport. All objects are in the S4FN namespace. Implementation takes 4-6 weeks to be ready for production.

Norway SAF-T Financial Solution Architecture

S4FN provides a flexible solution that meets your need in SAP

S4FN provides SAF-T SAP solutions for Norway and can help companies meet the requirements of the new obligation which will be mandatory by the 1st of January 2020. Our solution can create the standard SAF-T file inside SAP. SAF-T files are kept in SAP and can be accessed from the S4FN cockpit.

Norway SAF-T Financial

SAF-T Financial is a standard format used in the exchange of accounting data. SAF-T, or Standard Audit File-Tax, is the result of joint development collaboration between the business community, the accounting sector and the Norwegian Tax Administration, based on a recommendation by the OECD.

The Ministry of Finance has amended the Bookkeeping Regulation so the requirement to provide accounting data for bookkeepers who have the bookkeeping available electronically must disclose accounting data in a given standard format. The new sections 7-8 come into force in the first period with financial reporting starting 1 January 2020 or later. Until then, the use of the SAF-T scheme will be voluntary. Businesses with less than NOK 5 million in turnover are exempt from this requirement. However, if these businesses do have bookkeeping information electronically available, the requirement will apply to them. The enterprises with a bookkeeping obligation are only obliged to submit accounting information in SAF-T format when in relation to a potential control, and upon request by The Tax Administration.

The introduction of the standard format will make it easier for those obliged to keep accounts to submit accounting records to public authorities upon request. It will also be easier to perform internal control audits and analyze and share data with others, such as external auditors or between different accounting systems. The obligation to store the accounting information will be easier because the SAF-T files will meet the requirements for storing this type of accounting information, presumed that the SAF-T file can produce all obligatory financial reports.

HOW TO TRANSMIT SAF-T FILES

Uploading via Altinn will be the main method for sending in SAF-T files. If you have large files over 200 MB (up to 2 GB in zip files) you may contact the relevant case handler in the Norwegian Tax Administration.

REGULATION

The requirement will apply to any enterprise with bookkeeping obligations that use electronic accounting systems. Enterprises with less than NOK 5 million in turnover are exempt from the requirement. However, if these enterprises have electronically available bookkeeping information, the requirement will apply to them. It is the system suppliers who must adapt their accounting systems so that the systems can provide the new standard on demand. Enterprises with a bookkeeping obligation who have fewer than 600 vouchers a year, and hold their accounts in a text editor or spreadsheet programs are not included in the requirement, because these systems are counted as manual solutions and not an electronic accounting system, ref. NBS 6 section 4.

Main features Norway SAF-T add-on for SAP

• Selection of the relevant data from your accounts and mapping to SAF-T Finance
• XML Viewing summary and stats from the generated XML