FEC SAP accounting entry file

01-02-2014 | 2 | Tax and Audit Readiness

Testimonial of Mr. Hervé GAY, IT Manager at IDI Composites International Europe S.A.S on the implementation and use of the FEC Software by TJC.Here is a set of resources available to support you around our business expertise.

1. Why did you choose TJC’s FEC File of Accounting Entries?

TJC was the first actor to provide a solution for the FEC

Our choice was therefore naturally turned to TJC.

After receiving the information, we asked to receive the necessary to implement it in our ERP.

Simple, fast, and efficient! Thank you TJC.

2. How did the installation go?

The installation was relatively easy, after receiving the links to retrieve the files, all we had to do was deploy the two files to the right location and import a new transport order into our test environment.

And that was it!

3. How did the file extraction work?

Using the application to extract SAP data for integration into a FEC formatted document is very intuitive.

Moreover, the associated documentation is a real support for understanding and using the file.

Regarding the processing time for data extraction…not much to say, relatively efficient compared to the data to be extracted.

4. What message would you like to give to your SAP colleagues in France regarding the FEC by TJC?

SAP has finally decided to take something out of its shelves concerning the exploitation of this new directive.

And this after many messages to our SAP account manager…

A very complex solution to implement.

There is still a question mark over the SAP solution, as the application seems to pass on carry-forward entries.

We will have to validate this point with our financial department (not sure if they like it…).

The TJC solution uses the data without making any entries!

And finally, the implementation of the SAP DART (Data Retention Tool) has a significant cost…but that’s SAP!

5. Reminder: What is the FEC file (Fichier des Écritures Comptables)?

The law adopted on December 5, 2012 made it mandatory for French companies, for audits initiated after January 1, 2014 and from the beginning of the procedure, to provide the tax authorities with a SAP Accounting Entry File for each fiscal year, which in fact corresponds to an electronic journal book of all general accounting entries.

The period covered by this initial obligation concerns the fiscal years ending in 2011, 2012 and 2013.

6. How to prepare!

Taj, a member of Deloitte Touche Tohmatsu Limited, and TJC have jointly designed a software solution that meets this new French tax obligation but also for other OECD countries through an SAF-T (Standard Audit File for Taxes) offer.

Concerning the obligation made for France, TJC delivers the code allowing you to generate easily the fields requested by the French tax administration.

Find out more at: www.tjc-group.com/fec