pERPlex

Compliance of ERP systems with local accounting and tax legislation

Accounting systems need to be compliant with the relevant Belgian laws. This can be a complex matter, especially since it implies compliance of the implemented ERP (modules) and other solutions with accounting and direct as well as indirect tax requirements, such as journals, legal books and charts of accounts.

PwC can provide assistance to ensure that you meet these requirements.

Did you know that your accounting system needs to be e.g. in conformity with the following rules?

Language

All underlying accounting records must be prepared in the language applicable to the company, which is French, Dutch or German, depending on its location.

Journals

  • In order to be compliant with Belgian VAT and accounting requirements, specific information should be included in the sales and purchase journals;
  • The centralisation journal should be updated on a monthly basis (which can be done in two ways) and be kept in electronic versions.

Chart of accounts

The chart of accounts must conform to the content, presentation and numbering system of the Belgian minimum standard chart of accounts as prescribed by Royal Decree. Are there different rules for group (international) charts of accounts 

Retention

All accounting records and documentation should be kept for a certain period of time. This can be 5, 7, 10 or 15 years, and there are specific rules for storage and recordkeeping.

Location

Under certain conditions, transactions may be processed abroad. Specific rules define the handling of books, supporting documents, ledger accounts and journals.

E-accounting

Have your systems and procedures adapted to the latest developments with respect to the compulsory electronic filing of various tax reports.

What can PwC offer you?

PwC can assist you to make sure that your accounting system complies in all material respects, with the relevant accounting and direct and indirect tax requirements. We can furthermore provide you with an assessment, detect potential problem areas, quantify risks and identify opportunities for improvement.

pERPlex is a proven methodology aimed at verifying whether or not your accounting and business management solution (ERP and others) has been implemented in full compliance with the relevant accounting and direct and indirect tax requirements.

What can PwC offer you?

 

Accountancy systems knowledge

Our specialists can conduct an in-depth accountancy review at your premises; they have experience with a variety of software applications:

  • SAP
  • JDEdwards
  • Oracle
  • Exact
  • Microsoft Dynamics NAV
  • Mfgpro
  • Microsoft Dynamics AX
  • Great Plains
  • Coda
  • Concorde
  • Elite and others 

pERPlex report

Problems identified will be included in a report compiled in the form of a bullet-point, easy-to-read document.

Individual findings can be summarised in a comprehensive report outlining potential problem areas, quantifying risk where applicable, identifying opportunities for improvement and suggesting solutions to overcome shortcomings.