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  • Gyula Mucsi

How can we turn NAV Online to our advantage?


LEAN SETUP, less headaches

One of the main questions when implementing new enterprise software at a company is how much effort setting up everything will be before the employees can start using it. In iREMS, the only setup needed before invoices can be sent or received through NAV Online is to configure the NAV Online credentials on the issuer of the invoices.

Optionally, you can configure with a single click who receives e-mail notifications of successful or failed invoice sending to increase transparency and accountability.





FULLY AUTOMATED invoice transmission

Automated processes always save time and money. You have one less step to worry about in your invoicing workflow with the automatic sending and receiving of invoices from the Hungarian Tax Authority in iREMS.

Your outgoing invoices are sent to the Tax Authority through the NAV Online Interface at the same time as they are sent to your invoice recipients. In case you wish to have more control over the process, iREMS offers full transparency by providing detailed information on which invoice was sent when, and if they were successfully received by the Tax Authority, with an invoice-by-invoice breakdown.





From the other end, once you have received your supplier invoices, and they are available in your NAV Online profile, all available information on the invoices can be automatically imported into iREMS. Here as well the process is triggered automatically when the invoice upload process is started. Only thing your users need to know is the invoice number.





ELIMINATING USER ERRORS minimizes compliance risks

A friend in the banking industry once relayed to me a blood-chilling story of compliance rules gone wrong. In the story a CEO of a flourishing company, a long-time customer with the bank, needed to restructure the company’s finances, as the company suffered an unexpected loss. The reason: a fine imposed by the Hungarian tax authority.

The CEO explained that a supplier of his, with whom they have had a working relationship for many years, has sent over his usual quarterly invoice, which was accepted and settled as usual. Unbeknownst to the CEO his supplier got into some serious legal trouble with the tax authority, and they have been barred from issuing invoices. According to Hungarian regulations it is the responsibility of the recipient of the invoice to verify the status of the supplier. Accepting and thus paying an invoice received from an invalid supplier carries a hefty fee.

To ease our clients’ minds and iREMS has implemented a solution to safeguard them from getting into similar situations. By using the NAV Online Taxpayer Query feature, when a new Hungarian supplier is created in iREMS the tax authority’s database is queried to see if the supplier is valid according to NAV.

Since the partner information is also imported, it also eliminates user input errors.




2021-04-19


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