Standard Audit File for Taxation (SAF-T)

The Standard Audit File - for Taxation (SAF-T) is a file format that allows the easy export of a predefined set of accounting records in a commonly-readable format.  The file also makes it easier for taxpayers to provide their electronic records to tax auditors in support of their tax return and for auditors to review accounting records. This SAF-T is a recommendation of the OECD’s Committee on Fiscal Affairs (CFA)
The SAF-T file is an XML file that has been conceived to provide a standard set of functionalities and at the same time to be extended and adapted to specific countries needs.

SAF-T also provides businesses with a tool to meet the requirements of other Government or Non-Government bodies (e.g. statistics agencies, banks, industrial organizations) and it is easier to switch from one accounting package to another.

Importing Standard Audit File (SAF-T) in Banana Accounting

Banana Accounting is developing the the ability to import Standard Audit Files. Each tax authority implement a SAF-T file that it is specific to the country. Banana Accounting is therefore implementing extensions that are specific to each country.
In order to do that we cooperate with our users.

Import and Recreate a complete accounting file

The objective of the project is to be able to import the data from the SAF-T and create a new Banana Accounting file that  include:

  • Import
    • General company information
    • General ledger accounts.
    • Customers and suppliers accounts.
    • Structure of the Profit & Loss and Balance sheet.
    • Transactions
    • VAT codes table
    • Exchange rates table (in a Multi-currency accounting)
  • Rebuild
    • Balance sheet and Profit & Loss
    • Accounting cards.
    • Customers and Suppliers.
    • Invoice's list.

Expected use cases

Banana Accounting's ability to import SAF-T files allow auditors and companies to access their accounting data at any time. Even if they do not have access to the original software, they can view the accounting data, extract reports and other information.

  • Have access of all the data in you Personal computer. 
  • View all information in a tabular form.
  • Easily navigate the accounting information.
  • Search for plain text.
  • Check the data for imbalances or errors.
  • Easily verify and reconcile data.
  • Easily Copy and paste to Excel.
  • Print P&L, Balance Sheet.
  • Drill down to the transactions level.
  • Apply automatic tests (written in Javascript).
  • Add more information:
    • Color the transactions that further inquiry.
    • Add notes to lines.
    • Add cost or profit centers.
  • Compare with Budgeting.

Expected way of working

We expect this to be the way to view the content of the SAF-T file with Banana Accounting.

  • Install Banana Accounting on the auditor's portable computer. (Free Starter Edition or with a license key).
  • Copy the SAF-T file to your computer
  • Import the SAF-T file in Banana Accounting (The procedure varies depending the SAF-T). 
    You should check with Banana Accounting if the import functionality is available for your specific country format.
    Banana Accounting is working with auditors to provide support for different format.
    If the format is not yet available, feel free to ask us, it is possible that we are already working on that specific format or that it will be supported in the future.

    Auditors using Standard Audit File

    Auditors can import the SAF-T in Banana Accounting. Once they are imported they have full access to the accounting data on their laptop.
    Then they can ask the companies for more information.
    Auditors can work faster and with more precision and knowledge.

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