Enabling Romania localization

The data setup includes:
  • The Romania check box must be selected on the Countries tab in the Implemented Software Components (tccom0100s000) session.
  • The parameters for the monthly balancing of Profit & Loss accounts must be defined in the Parameters for Romanian Localization (lprou0103m000)) session.
  • The parameters for the monthly closing of VAT accounts must be defined in the VAT Closing Parameters (lprou5162m000) session.
  • The transaction types and the corresponding reversal transaction types must be defined in the Transaction Types for D/C Amount Adjustments (lprou2188m000) session. In this session, transaction types are specified for generating the correction entries and the reversals entries to rectify the entries posted on the wrong ledger account.
  • The employees signing documents for the administration of signatures to be displayed on the monthly accounting declarations like Trial Balance and VAT Journals must be defined in the Sign-off Names (lprou5561m000) session.
  • Define the Classifiction of code, Description of the code (name of the group, subgroup, class, subclass and family of fixed assets) and minimum and maximum limit for standard operational life (given in years) fields in the Classification codes – (lprou2109m000) session. According to Romanian Ministry of Finance Order No. 2139 ofn 30/11/2004, this information is necessary to identify fixed assets and to set the standard operational life for each asset.
  • A classification code must be assigned to each asset code/extension in the Fixed Assets Classification Codes (lprou2110m000) session.