CFL, Known as China Financial Localization, which helps businesses fulfill the translation and legal requirements of local authorities in China as well as collaborate with their finance department headquarters. A special workspace has been designed for local staff to accomplish any kind of needs who are working in multi legal entities. Speed up your deployment in China with less budget and time. With agile and robust CFL implementation, it empowers your company with more predictive decisions from anywhere in real-time.

Key Features:

• Chinese Voucher System Enhancement

In mainland China, companies must comply with Chinese GAAP, even though their headquarters may be operating in accordance with HGB, IAS or IFRS.

• Golden Tax Integration

All businesses operating are required to use a government-certified tax software referred to as Golden Tax software for generating VAT invoices, VAT calculations, and statutory tax reporting. Chinese government policies require all businesses to issue all VAT invoices through the Golden Tax system.

The solution provides a seamless integration between Microsoft dynamics Ax and the Golden Tax software system. The Golden Tax integration also streamlines the process of creating VAT invoices against documents generated by Microsoft dynamics AX.

• Daily Reports

Three major daily used reports include "Balance Sheet" "Profit & Loss Statement" and the "Cash Flow Statement". And other legally required reports such as "Fixed Asset & Depreciation Report" "Foreign Currency Statement" "Bank Accounts Balance Report" and some other customization reports depending on specific scenarios.

• Fixed Asset Management

According to Chinese GAAP, the official principle of fixed asset depreciation is quite different; it handles depreciation methods, depreciation year, and scrap value for subsidiaries and headquarters simultaneously.

• Workspace for Routine Process

Besides simply translating labels or layouts to Chinese, our consultant experts fully understand Chinese culture and local management methodology. We alter Dynamics AX modules and provide relevant training to fill gaps between international standards and traditions and culture of local employees and business partners.