Hong Kong's #1 Global Cloud ERP

NetSuite OneWorld Global ERP International Capabilities

Key Features

Indirect Tax Compliance

As the complexity and scrutiny of indirect taxes has increased worldwide, so has the cost and complexity for finance departments in multinational companies to manage, monitor and report on their audit process and compliance responsibilities.

Deployed by organisations in over 110 countries, NetSuite global ERP provides an end-to-end solution that can help you address these challenges through:

• Transparency—robust risk management capabilities reduces audit risk with an always-on audit trail, access logs for tax auditors and full drill-down from summary tax forms and reports to underlying transactional data demonstrating the source of calculations.
• Automation—enables standardised workflow across all international operations with tax calculation occurring as part of standard business processes.
• Control—validation of data entry based on internal standards and defined configurable approval processes and exception reporting provide confidence in system administration.
• Simplicity—a single system architecture eliminates re-keying of transactional or tax data, reducing common errors and traceability gaps found in traditional point solutions.

Financial & Accounting Regulations

NetSuite OneWorld global ERP is used in more than 110 countries and includes comprehensive indirect tax management and reporting capabilities to comply with some of the most stringent local accounting regulations. Go global with confidence with NetSuite global erp solution which:

• Meets accounting regulations in multiple countries including Hong Kong, Australia, US, UK, Germany, Japan, Singapore and more.
• Is accredited by multiple bodies including the American Institute of CPAs (AICPA, the Institute of Chartered Accountants in England and Wales (ICAEW) and in Singapore by IRAS as complying with GST and Audit Files.
• Is certified in Germany under IDW AuS 880 and GoBS, Philippines by Philippines Bureau of Internal Revenue, Portugal by DGPC under the Computerised Invoicing software certification (Portugal Decree 363/2010), Japanese J-GAAP compliant and many more.

Configurable Tax Engine

NetSuite OneWorld has a built-in tax engine that is configurable to the unique needs of your organisation. It provides:

• 'Out-of-the-Cloud' pre-configuration of tax codes and localised reporting for over 50 countries.
• Flexible indirect tax engine automates calculation of Australian GST, Canadian HST, Mexican IVA, German Mwst, Philippines VAT, and more.
• Cross-border sales and Intrastat reporting across all 27 EU countries, including online capabilities for many countries.

Comprehensive Multi–Currency Management

NetSuite OneWorld global currency management handles 190+ currencies and exchange rates reducing the cost and complexity of multi–currency transactions with your customers and vendors. It supports a wide variety of payment options, provides real–time currency rates and financial consolidation to improve productivity and eliminate exchange rate errors.

Audit and Compliance Reporting

NetSuite OneWorld audit management streamlines and enhances your auditing processes through electronic audit which is now common practice in many countries for both external auditors and government tax auditors. NetSuite provides:

• Support for audit files formats including SAF–T (all OECD countries), GDPdU (Germany), IAF for Singapore and many more.
• Always-on audit trail, built-in analytics, access logs and workflow.
• Full drill-down from summary reports to underlying transaction detail provides transparency to demonstrate ongoing compliance with local statutory and regulatory requirements.

Payment Processing

NetSuite OneWorld Electronic Payments makes it easy to pay your vendor bills and employee expenses, as well as taking take payments from customers, across the world directly from within NetSuite. NetSuite Banking and Electronic Payments supports Electronic Funds Transfer through HSBC and DBS Bank and local credit card payment gateway AsiaPay. It places the payments or direct debits into each bank's predefined file format ready to import into banking software or submit to the bank online, and reduces time, manual effort and costs spent on payment processing by eliminating checks, postage and envelopes.

Comprehensive Language Management

Intuitive user interface can be translated into 19 languages, including Simplified and Traditional Chinese, English (International), Japanese, French, German and more, NetSuite OneWorld enables each of your employees and partners to select his or her language of choice.