What is meant by EU business transactions?
The term "processing of EU business transactions" refers to the process of executing and managing transactions and business activities within the European Union. This process includes all necessary steps to ensure that business transactions are conducted in accordance with the legal, tax, and administrative requirements of the EU. Typical software functions in the area of processing EU business transactions assist companies in efficiently and legally managing these processes.
Typical software functions in the area of "processing EU business transactions":
- Invoicing: Automated creation of invoices in compliance with EU regulations and VAT directives.
- Payment Processing: Support for executing and managing payments, including consideration of different currencies and payment methods.
- Document Management: Management and storage of all relevant documents and evidence for EU business transactions, such as invoices, contracts, and delivery notes.
- Compliance Check: Verification of compliance with legal requirements, including the control of goods origin and export regulations.
- Reporting: Generation of reports for the analysis and documentation of business transactions, including sales and tax reports.
- Integration of Customs and Export Processing: Support for compliance with customs regulations and the processing of exports within the EU.