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Discover the tools created by Onwelo for financial and accounting departments that work in SAP systems: VATchecker, an extension that supports split payments and a solution that allows checking whether the contractor's bank account is on the Polish Ministry of Finance’s white list.

Split payment

The mandatory split payment model will be effective from November 1, 2019. It consists in making a transfer to the contractor's bank account with information that specifies the net amount, VAT amount and invoice number for which such a payment was made.

To respond to the new regulations, we have created an extension in the SAP system in the part dedicated to making payments, which allows making a transfer using the split payment method. The solution updates the outgoing invoice printout with information about the split payment method. The tool supports all banks operating in Poland.



DEPLOYMENT BENEFITS:

  • Avoidance of financial sanctions and losses
  • Optimization and automation of the financial and accounting department’s work
  • Elimination of errors occurring when split payments are being handled manually
  • Avoidance of blocking funds on VAT accounts
  • Smooth cash flow

VATchecker

Every company in Poland is obliged to check the VAT status of its contractors. That’s why we have created an extension in the register of contractors of the SAP system and at the level of business transactions that enables businesses to check whether an entity appears in the register of VAT taxpayers.


DEPLOYMENT BENEFITS:

  • Avoidance of financial sanctions and losses related to:
    • unauthorized deductions of input tax
    • application of the 0% rate for intra-community delivery of goods (WDT)
    • using a reverse-charge mechanism
  • Optimization and automation of the financial and accounting department’s work
  • Eliminating errors
  • Recording audit data

 

White list

Any payment over PLN 15,000 made to a contractor should be checked in terms of whether the bank account to which funds are transferred is an account registered in the bank account database of the Ministry of Finance, i.e. it is on the so-called white list. Sanctions for transfers to a non-whitelisted account will apply from January 1, 2020.

To respond to new regulations, we have prepared an extension in the SAP system in the part dedicated to making payments which allows businesses to check whether the contractor's bank account is on the white list.



DEPLOYMENT BENEFITS:

  • Avoidance of financial sanctions and losses and elimination of errors
  • Optimization and automation of the financial and accounting department’s work
  • Recording audit data
  • Conducting business in accordance with applicable legislation

Wszystkie nasze rozwiązania wspierają systemy SAP: S/4HANA oraz SAP ECC (ERP).