Electronic Financial Statements

Compass ESF

As of October 1st, 2018, financial statements of the companies entered in the Polish National Court Register must be submitted in a special format, commonly known as JPK_SF, and bear a qualified electronic signature.

How can we help?

In order to meet the legislators’ new requirements and the market’s expectations, we have created the Compass ESF system — a ready-made tool that allows you to create Electronic Financial Statements (EFS) in the XML structure. What distinguishes our product from others on the market is its universal character, customized not only to businesses, but also to the specific reporting needs of financial institutions, in particular banks, insurance and reinsurance companies. The functionalities of Compass ESF allow these companies to prepare e-statements in accordance with the guidelines included in Schedules 2 and 3 to the Accounting Act. At the time of generating the file, it is possible to verify its correctness in terms of merits and validate the logical structure of the XML file.

We offer a variety of services – depending on our Clients’ needs:

We prepare the financial statement in XML format, based on the provided data in a specified format. This service does not require installing any software. You will receive a ready statement along with instructions on the required signatures and sending.

In this form, the system consists of two parts that cooperate with each other: a specialized Excel sheet and a dedicated application generating the statement file.

PREPARING BASIC DATA

Step 1 – source data
A custom-made Excel sheet allows for reading data straight from the trial balance at the end of the fiscal year.

Step 2 – possible modification
Financial data – for both the ongoing year and the previous year – can also be inserted manually.

Step 3 – automatic verification
An elastic configuration allows for servicing a balance prepared in any form and the built-in check formulas make it possible to detect possible errors or indicate incomplete data.

GENERATING ESF

Step 4
Windows-based and user-friendly application downloads data from the prepared Excel and creates a file in XML format.

Step 5
The application makes it possible to sign the statement in the form required by regulations.

One collaborative system that works in a browser with the following functionalities:

• Implementing source data from CSV, XLS, TXT files
• Transforming and merging data
• Generating JPK and JPK_SF files
• Generating VAT statements in the form of interactive XML files
• The possibility of editing data
• Sending an electronic signature
• Sending data to the Ministry of Finance
• Archiving in an encrypted form

The system services all required options:

The application also services capital groups, preserving the separate configuration for each company in the group.

Additional benefits of using Compass ESF

Worth cooperating

Michał Głowacki

partner zarządzający w CRIDO

Hubert Klekowicz

partner w CRIDO

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