The Israel localization from Prodware is made to adapt Dynamics 365 for Finance and Operations to the requirements of Israeli legislation and to local peculiarities of company’s business processes. Localization pack including solutions for regulatory requirements and competitive features as well, it's will allows your organization to fulfill the tax regulations and requirements in terms of software certification and legal reports to the Israeli Public Administration.
The following are the Israel-specific features:
• Translation - the user interface has been translated to the Hebrew language.
• Validations - Israel accounting requires validation of the following fields:
Israeli Identity Card, Organization number, VAT registration number, Deduction file ID and Bank Account Number.
This feature is needed to identify and prevent errors in data entry for these fields, which would lead to mistakes in bank transactions and VAT declarations.
• VAT file - The creation of the file needed in order to receive a refund from the VAT institute. The refund is only obtained in case the VAT amount for purchases and expenses is greater than the VAT amount calculated on sales in a specific period of report. In case the Company needs to return money to the VAT institute, only a manual report should be produced.
• Invoice - This functionality comply with regulatory requirements in Israel in regards to printing of Customer Invoices/Credit Notes and Vendor Invoices/Debit Notes.
• Clearing - The MASAV Debit and Credit files allow companies operating in Israel to receive and send payment transactions electronically. The files are created by Dynamics 365 for Finance and Operation and sent to the clearinghouse.
• Receipts - This feature comply with regulatory rules in Israel in regards to printing of customer and vendor Receipts.
• Open format - The Israeli Tax Authorities require that each Computerized ERP system will allow the users to extract all the data in a Unified Records Format as specified herein.
• Withholding taxes –
o Generate the 856 file in the Israel format
o Create the 856 & 857 reports
o Compute the withholding tax rate, based on the vendor authorization dates and on the vendor specific rate.
o Create/Update withholding setup information from vendor setup