by Raffaella Bardi 

Do you have to manage many documents in foreign currency ? A special procedure allows you to interact with the Web to automatically update daily fixing in your database.

Companies that daily work with foreign Countries need not only to record documents in their currency, but also to calculate the equivalent amount in the base currency using a given fixing, which can be manually entered in every document or that can be suggested by the program. Furthermore in the process of collection or payment of payment schedule in foreign currency (partial closings included)  the correct fixing must be applied in order to calculate the exchange rate difference to be posted in the financial statements.

A manual management of fixing involves the manual entry of fixing to be used in all documents and journal entries in foreign currency. The automatic management of fixing involves the setting of the daily fixing only within the base currency in the Currency table, and it allows the program to automatically suggest the fixing in all documents and journal entries in accordance with entered dates.

The Download fixings from the Web is a special procedure that allows you to download the fixing directly from the website of the Bank of Italy, of the European Central Bank or of some European national banks that provide this type of service (national banks of Poland, of Romania, of Bulgaria), and to update the fixing of used currencies for the selected day against the base currency.

With this system, you no longer have to worry about looking for fixing values to update the Currencies table, as now is the procedure to do it for you, even in total autonomy if you use the Scheduler to run it automatically.

For more details you can contact your dealer representative or consult our Microarea Help & Information Center.

by Gaia Bombonato

… to each his own…letter template! Mago.net efficiently manages communication with clients e suppliers, while saving precious time.

Sending notices and circular letters to clients and suppliers can be a long and tedious process! 

In the present social and economic reality, the ability to “beat the rush” in the market is the key to companies’ success. All companies should be able to grasp the opportunity to optimize resources and make business processes more lean and effective.

Mago.net helps you to follow this purpose and allows your company to focus resources on core business. Mago.net strongly supports the automatic management of mailing to clients and suppliers, with a considerable saving of time and resources, while minimizing waste.

In addition, you can use special letter templates based on a text file, in which the content is designed by the user. The letter then, can be sent to everyone or just to a group of customers and suppliers.

And that’s not all! Mago.net  allows you also to print the return receipt, creating at the same time labels with selected customers and suppliers addresses.

“…when was the last time I sent the letter to my customer/supplier?”

In addition to all the advantages coming from processes automatization in sending circular letters, Mago.net allows you to recollect communications to clients and suppliers. The Circular Letter Procedure automatically updates customers and suppliers database, with letter template, print status and date of printing.

Everybody knows that Mago.net allows you to easily use e-mail services in a flexible way, thanks to Mail Connector …but maybe not everyone knows that…the Italian version of Mago.net is totally integrated with PostaLite, the Zucchetti mailing service made to manage communications and correspondence to clients and suppliers in a simple, fast and effective way. Whith PostaLite you can also choose between different options for sending and printing, depending on the actual needs.

For further information about this topic you can ask to your referral or visit our on-line Microarea Help & Information Center.

by Patrizia Benelli

Opportunities of deferred Tax exigibility, i.e. cash accounting, but not only ...

The Cash TAX regime, called  also “cash-accounting”, has been introduced from European Directive no. 2010/45/UE, that modified the main VAT Directive no. 2006/112/EU.

The goal is to help small and medium-sized companies that encounter difficulties in paying VAT to competent authority before receiving payment from their customers. Member States has been allowed to introduce an optional cash accounting scheme in order to authorize companies to pay VAT not on the basis of invoices issued/received during the period, but according to the payment of the same.

In Italy the European Directive came into force in December 2012 and covers companies with a turnover not exceeding EUR 2 million, that can join this scheme by applying it to both active and passive operations.

It is clear that the opportunity granted by the European Union is very interesting and probably other Member States shall take it, considering the unfavorable international economic situation that affects first of all small and medium sized companies.

Perhaps not everyone knows… how to manage the deferred Tax exigibility.

Issued and received invoices are posted and listed in Tax Journal as not exigible.  Tax settlement also includes these documents, but in the calculation of VAT to be paid such not exigible amounts are excluded.  When an invoice is collected/paid, partially or totally, the related VAT becomes exigible and it will be included in the calculation of VAT to be paid in Tax settlement. As a consequence, adopting the cash tax regime VAT to be paid is no more calculated only as a difference between VAT on sales and VAT on purchases, but it has always to consider also exigible and not exigible amounts.

All this may seem complex, but with Mago.net the process is easy and automatic.

In Mago.net documents with deferred tax exigibility are marked as suspended tax documents and they are posted using special accounting templates. Exigibility of such documents is automatically generated by operations on payment schedules (clearing, bills of exchange, payment orders). General Tax Journal Summaries highlight exigible and not exigible amounts both of sales and purchases documents.  Finally, special reports list such suspended documents in order to check amounts included in Tax settlement.

For further information about this topic you can ask to you reseller referral or visit our on-line Microarea Help & Information Center.

by Patrizia Benelli

Cost accounting can help in taking important decisions.

Are you ready for a qualitative leap?

The worldwide economic crisis is forcing small and medium companies to review their targets as well as their internal processes because of sudden changes.

Cost accounting, known also as industrial accounting, is a basic tool to provide a “management control” necessary to plan company’s strategies.  Managers of small and medium companies know that analyzing accounting data, for example balances, could not be enough, but they also know that investing in cost accounting could be onerous. Now more than ever, investing in management control is necessary for dealing with the changeable moment in order to improve company’s strategies, not only to analyze costs.

Analysis and Controlling module of Mago.net could be the first step to mark a turning point in company’s activity and to improve performances. The module offers an easy, full and flexible solution to monitor company’s activities having economic relevance.

Those people who are already using the module know that, after setting the work methodology at the beginning, such as cost center definition and spreading templates, analytical entries are automatically generated by sales and purchases documents, by accounting documents, by fixed assets entries and by inventory entries.

As an effective management control is reached by analyzing variances between budget and actual amount, the  analysis of  actual amounts only is not enough. For this reason it is of primary importance to post budget analytical entries, that can also be copied from the previous fiscal year or that can be manually posted for each analytical account.

Perhaps not everyone knows that… the manual posting of budget analytical entries can be facilitated by a special function that generates rows in order to spread amounts by month/quarter/six-month period. This is also useful to all reports that analyze monthly variances.

For further information about this topic, please contact your reseller referral. In addition, if you are a M.L.U. subscriber, you can follow lesson 5 of Mago.net PRO – Analysis & Controlling course, and you can visit our on-line Microarea Help & Information Center.

by Patrizia Benelli

The supplier, customer and contact masters are the most important source of information as well as a valuable company asset.

The correct and complete filling out of the masters is crucial not only in order to manage at best the business relationships, but also to allow an analysis of the data that can eventually bring to an increase in the business activity.  

Quite often, he/she who is responsible for filling out the masters does not have enough time or fails in paying close attention to the actual filling out process. A lack in accuracy can lead to misunderstandings, waste of time and consequently to an increase in costs. 

The poor quality and the obsolescence of the master data can jeopardize commercial and marketing analyses that could potentially bring to further business developments.

For example, should the delivery address not be entered correctly, there could be a mistake or a delay of the shipment or even a incorrect evaluation of the turnover subdivided throughout the territory.

The normalization of the address is hence of crucial importance: setting rules for the filling out process can result in being not enough, especially since the rules will probably be disrespected. Hence, a validation tool can prove to be truly important. 

Perhaps everybody knows that...in Mago.net, you can connect yourself directly to the Google map, from the address, thanks to one simple click. The latter is true if the address is complete and more or less correct.

Perhaps not everybody knows that you can perform a research and hence a validation of the address by using the address search function that, by connecting to Google maps, will provide the correct address or (should there be not sufficient information within the masters) suggest possible choices within the addresses available. Furthermore, by choosing and confirming the suggested address, you can obtain the automatic filling out also of the city, state, province and zip code (information that is useful for geo-marketing analyses).

Finally yet importantly, starting from the Mago.net 3.6 release, the GPS coordinates masters allows entering automatically the latitude and longitude, the latter information useful especially for those that need to interface with the navigation system in order, for example, to manage the routes. 

Mago.net helps you find the correct road also to reach your customers, suppliers and contacts. The integration with Google maps improves the quality of your work, every single day.

di Patrizia Benelli

ERP Financial Project & Product Manager

Right at the beginning, the system was used for transactions between European countries only. Currently it has been extended to special national operations.

Starting from 1993, along with the creation of the European market and the knocking down of the fiscal frontiers, purchases made within the European Union are usually subject to taxation in the country of destination. In this case, the tax is owed by the recipient according to the reverse charge system.

Recently, the European Union has given way to a testing phase allowing each member to apply the reverse charge system also in special sectors of  their National transactions, this in order to tackle evasion. For example, up until 2013 in Italy, Germany  and Austria, reverse charge will be applied on transactions regarding mobile phones and integrated circuit devices. 

Furthermore, the European Union, in  the Green Paper on the future of VAT (published one year ago), opened a debate on the VAT system with the aim of simplifying such system, evaluating as well the possibility to force all countries to apply in any case the reverse charge system on national operations.

From an administration point of view, the question is: what to do when we receive an invoice subject to reverse charge?  Theoretically the invoice should be posted twice, both as received invoice and as issued invoice, in order to post the tax on purchases as well as the tax on sales. 

Perhaps not everyone knows that… Mago.net has always allowed to post the reverse charge in a single journal entry, by using special accounting templates that post the document also in Sale Tax Journal.

In order to acquire further knowledge, please contact your reseller referral and in addition if you are a M.L.U. subscriber you can follow the course NON EXISTING PAGEMago.net – Received Documents.