It is planned to introduce the mandatory submission of SAF-T in several stages, with the criteria for companies that will fall within the scope of the regulation in the first stage being the following:

Since 2026, all large enterprises within the meaning of the Law on Financial Reporting, within the scope of the Directorate of Financial Reporting.

Or in other words, companies that exceed at least two of the following indicators:

1) Book value of assets – 50,000,000 BGN;

2) Net sales revenue – 100,000,000 BGN;

3) Average number of personnel for the reporting period – 250 people.

We, at FTS, are completely ready! Our solution is already in the pipeline in pilot projects for Bulgaria.

We are stepping on true expertise – our team has developed and implemented successful SAF-T solutions for clients in Norway and Romania, which gives us confidence and expertise in adapting to Bulgarian regulations.

SAF-T and system versions

We advise all our clients who are still using older versions of their ERP systems to consider the possibility of upgrading to ensure full compatibility with SAF-T standards.

What does FTS advise you?

Check if you are a large enterprise within the meaning of the Law on Financial Instruments and at the same time fall under the GDO Directorate:

If „YES“: Contact us as soon as possible to plan the next steps.

If „NO“: Expect more information about the next steps at our annual FTS event. We will soon announce the exact dates to meet and discuss all your questions.

*In the 2025 budget proposal expected in mid-February, we will also have new, final information on SAF-T, as due to the legal requirement for a 1-year period between announcement and entry into force, it may be postponed from 1/1/2026 to 1/7/2026. We will keep you informed of any changes.

Материалът SAF-T reporting? We’re ready! е публикуван за пръв път на FTS.

This feature will be generally available in October 2020 and is eagerly awaited by the Dynamics 365 community. It will allow users to organize the information on their screen in a convenient and effective way.

Although user-specific, the new saved views in Dynamics 365 will greatly facilitate centralized management of the arrangement of the forms in the system, the fields in them and the applied filters.

Let’s look at an example – there are two user groups working in the system – accountants and traders. Each group has to use the customer nomenclature. The two user groups, however, have different requirements of what customer information to be displayed. For one of these user groups, it is the customer posting profile that is important. For traders, this field is confusing or uninformative and they prefer to see the customer trade classification instead. In the previous version of Dynamics 365, meeting these requirements had the following shortcomings – the views set up by the administrator were distributed individually to each user and each user with rights could personalize these views.

With the new saved view feature, the above problems are solved in an elegant way because

• administrators can distribute a saved view of forms and pages to the entire group
• users cannot make changes to the views which they receive administratively

This enables companies to define a data view in Dynamics 365 in accordance with corporate requirements and security rules, whilst these views become valid for all group members.

Материалът Saved Views in Microsoft Dynamics 365 F&O е публикуван за пръв път на FTS.

Electronic services for final customers – Qualified Electronic Signature (QES) B-Trust and Cloud Qualified Electronic Signature (CQES) B-Trust, electronic invoice E-faktura, Cash-M ATM money transfers and others play a predominant role in the portfolio of the company.

For more than 30 years, the company has been a leader in providing services for the financial sector and a trusted partner for banks and businesses.

In partnership with FTS Bulgaria, the following projects were implemented in BORICA AD with the Microsoft Dynamics AX ERP system and the Power BI business analysis tool:

• Structuring and formalizing business processes in the organization and using a centralized system
Given the many systems used by BORICA in the Company’s core business, it was necessary to summarize the information in a single software. Again, the need for centralized maintenance of the nomenclature of the services offered, as well as achieving flexible price and pricing policy management was also required.
Technical connectivity – due to specific security policies, the system is in an isolated environment and requires specific integration with other systems. In connection with these specific policies, the most automated solution for integration with BORICA’s internal systems has been implemented. The monthly invoicing process has been automated, with the results being the facilitated issuance of a great number of invoices – over 700 invoices in one day, as well as the facilitated sending of a great number of invoices to the e-faktura platform.
Daily integration with the B-Trust internal electronic signature system has been implemented.
Automation of the process of closing payments and invoices and reconciling bank statements has been implemented, both through the import of statements from Infobank and through various mechanisms for payment and invoice recognition and reconciliation.

• Improving operational and financial reporting
New Business Activity Benchmarks have been defined and maintained, and rules for their use and redistribution possibilities have been configured. Budgeting, budget control (at the purchase level) and tracking have been implemented, as well as automation and traceability of the entire request and purchase process. Policies, rules and levels of approval, timely notifications and approvals have been defined.

• Project and resource management
With the help of Microsoft Dynamics AX functionalities, project managers can plan project tasks and manage deadlines for stage completion. More flexible and timely operational resource management is carried out by keeping an up-to-date schedule for staff bookings for each project. Integration has been implemented with the HR system for synchronization of the planned absences of employees with the schedule of unbooked / booked resources. During absence, all approvals are automatically redirected to the alternate.
Time recording /timesheets/ by employees working on projects and specific tasks has been facilitated by the use of a self-service portal. Stricter control of timesheets is ensured by setting down rules for the types of projects and tasks on which each employee can record their hours of work. Through the system of rules and levels of approval, managers of different business units and departments within the organization have control over the recorded hours of work on their projects. The hierarchical structure of the projects allows for a different perspective for the analysis of the work performed and the comparison between the budget and project implementation.

• Power BI – Business Analyses for project and resource management
With the help of Power BI top management, BORICA AD has timely information on the number and type of hours registered, project revenues and costs. The control of missing hours and hours in approval has been facilitated, reports with up-to-date data are quickly generated for management boards.

We congratulate BORICA AD for their 30th anniversary and heartily wish them motivation for new successes, inspiration for new services and ambition for new projects! FTS Bulgaria team
If you too are looking for a new ERP system, we will be happy to discuss your requirements in detail. Contact us on 02/818 36 63 or info.bg@fts-eu.com

Interested or want to know more about how you can benefit from FTS Solutions?

Please, choose the office and contact us here.

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Материалът Microsoft Dynamics AX and Power BI from FTS help to efficiently manage projects and resources in BORICA AD е публикуван за пръв път на FTS.

Microsoft presents Dynamics 365 as a modular solution allowing you to choose the modules your company needs – Sales, Marketing, Finance and Operations, Customer Service, Retail, Talent and more.
Dynamics 365 Business Central, on the other hand, is a complete solution allowing for integration with more extended modules. However, it is intended as a standalone solution.
Differences between Dynamics 365 Business Central and Finance and Operations

Here are 4 more ways to distinguish between the two solutions:

Number of users
The number of users with full rights in the organization affects not only access rights but also the scale of the system. Dynamics 365 for Finance and Operations requires 20 licenses with full rights, while Dynamics 365 Business Central does not have a requirement for a minimum of licenses, so it is an appropriate solution for smaller organizations. According to Microsoft data, the average number of users noted in Business Central installations is around 10-15, with the largest Business deployments being around 60 full right users.

Integrations
Integration is again an important distinguishing element between Business Central and Finance and Operations. Business Central is intended as an all-in-one business solution. Microsoft provides for out-of-the-box integration of Dynamics 365 for Sales.
For Dynamics 365 for Finance and Operations, the option for integration is embedded in the modular approach to Dynamics 365 solutions and is therefore easily integrated with Talent and Retail as part of the Unified operations plan. Using the Common Data Model, it’s easy to integrate Finance and Operations with other Dynamics 365 applications.

Different tax locations
For companies operating in several countries, taxes may represent a significant challenge. Both solutions, Dynamics 365 Business Central and Dynamics 365 Finance and Operations, have the necessary functionality to help you handle different currencies and tax regions. But the more the countries in which the company operates, the more you will need the functionality of Dynamics 365 for Finance and Operations. Dynamics 365 Business Central is available in 16 countries, while Dynamics 365 for Finance and Operations is available in 30 countries and has better customization settings according to the tax rules of each region.

Number of transactions
The number of transactions processed in the ERP system is another important thing to keep in mind. If you process thousands or tens of thousands of transactions, Dynamics 365 Business Central is the right solution to provide the resources you need. When you reach hundreds of thousands of transactions, Dynamics 365 for Finance and Operations is the right solution for your company.
The main conclusion is that for large-scale companies, the choice must be for Dynamics 365 for Finance and Operations. For small and medium-sized enterprises, Dynamics 365 Business Central is a good alternative. Both solutions come with the integration of Office 365, power platform and AI opportunities to transform your organization.

Know more about benefits of Dynamics 365 Business Central for your business

Interested or want to know more about how you can benefit from FTS Solutions?

Please, choose the office and contact us here.

Read and follow us on LinkedIn.

Материалът D365 Business Central or D365 Finance and Operations? е публикуван за пръв път на FTS.