There are many international companies that operate in Slovakia. According to Eurostat, in Slovakia foreign companies generated 48.1% of GDP, while the EU average is only 25%.
These are often companies that use a single ERP software in all the countries in which they operate. SAP is also one of the world's most used software, currently used by more than 230 million cloud users (sap.com).
Our company Crowe Slovakia has experience with the implementation of SAP for Slovak accounting from the financial side.
Adaptation of SAP to Slovak accounting
Slovak accounting and tax legislation is rather complicated and constantly changing. This makes the implementation of the ERP to Slovak conditions rather challenging for international companies. There are certain specifics that are not found in other European countries and that must be considered when implementing the SAP accounting system. Below are some of them.
Payment symbols in Slovakia
Cashless payment transfers between Slovak partners must contain additional information such as a variable, specific or constant symbol. This additional information is already based on the supplier invoice and should therefore be implemented in all applications that the invoice passes through in the given company.
VAT in Slovakia - statements
Every company that is registered as a VAT payer must - by law - submit a monthly or quarterly tax return at regular intervals, depending on the turnover. Tax returns in Slovakia require the electronic submission of several statements. For these purposes and to simplify work with SAP, it is necessary to set up SAP transactions according to the requirements for VAT reporting in Slovakia.
SAP Customization – scope of services:
- Analysis of the level of implementation of client’s SAP
- Recommendations and a project plan for the implementation of SAP in accordance with Slovak accounting standards and tax requirements
- Drafting of tax codes and tax reporting
- Payment process and payment symbols
- Accounting for long-term assets
- Reconciliation of accounting data in SAP and recommendations for corrections of accounting records and process changes
- Preparation of specifications for SAP IT and consultation during the implementation of changes in SAP
- Testing of SAP changes before implementation into the live system
- Preparation of accounting manuals for implemented changes and processes
If you are interested in support for implementing SAP in your company, please contact us.
