December 2024

News in year-end closing 2024

Year-end closing 2024 has been released and below is a selection of what is new.

Information

  • Validation of valid national security number and organization number when registering in:
    • Client information
    • Accounting office
    • Auditor
    • Financial products
  • When Period & Year calculates new values based on a changed value in the user interface, this will now be shown by the ‘Update’ icon becoming inactive.
  • Simplified interface for ‘Non-taxable companies’ by only showing relevant menu items.

Fixed asset register

  • Overview - possible to sort display of fixed assets by Account, ID, Description, Gr or Acquisitions date.
  • Date for acquisition, access, and disposal, not just month/year. When transitioning to a new format, the date is set to the first day of the relevant month.
  • When amounts are registered in tax-free grants on current year’s asset acquisitions, this will now be included as a permanent difference under deductions in business income to compensate for income recognition under changes in temporary differences because the accounting value added in the year is lower than the tax value added in the year under temporary differences on fixed assets.

Taxable depreciations

  • Overview - improved grouping on balance groups with subtotal and number with the option to sort in the display of tax-related depreciations.
  • Tax-linear depreciations can now have overridden depreciation amounts after the Tax Administration has removed validation of monthly depreciation against purchase cost and lifespan in months.
  • In cases where data on account number and realization date are set by the asset registry, the fields are now set to read-only, making it clear they cannot be changed. Simultaneously, a link to the fixed assets register is added to these fields to clearly show where the information can be edited.

Areas requiring Altinn/Tax Administration login

  • Information will be displayed as non-editable if not logged in. Previously, login was required even if no changes were intended.
  • Login is only shown if the feature is not marked as complete, since changes are not possible after marking as complete.
  • Login to Altinn/Tax Administration is only shown if the user has write permissions, so auditors and others given only read access can see information without having to log in, and won’t see a login option.

Group Contributions

  • Always apply 22% tax on taxable received group contributions, even in cases where this covers carry-forward losses included in unrecorded deferred tax benefits.

Reclassification of Receivables and Liabilities

  • Under the menu for trade receivables, it is now possible to reclassify:
    • Supplier debt among trade receivables
    • Advances from customers among trade receivables
    • Trade receivables in supplier debt
    • Other receivables in supplier debt.
    • The reclassification creates a system voucher which is designated not to be transferred to the accounting system, meaning it will only appear in the annual accounts, tax accounts, and documentation in Period & Year.

Wealth

  • It is now possible to add linearly depreciated assets and non-depreciable assets as wealth values in wealth calculation by specifying this directly on the taxable objects.
  • Balance group F, aircraft and helicopters, has been changed so that the wealth value now derives from the accounted.
  • Validation is in place for the wealth value specified on the fixed asset account for balance group E, ships. If the wealth value is missing, a validation message will appear.
  • For impersonal companies and companies with participant taxation, the wealth value for shares and other financial products is now moved to the financial products function. Under financial products, all financial products owned or have been owned during the income year should be listed, making it natural for wealth values to be included along with the number in stock at the end of the year. The wealth value is not reported in detail but is included only as a sum in the wealth statement, as detailed wealth reporting is not required.

Checks

  • Validation of the specified wealth value for balance group E and F.

Systemposteringer

  • Group contributions - improved handling. Period & Year will compare the vouchers already transferred to the accounting system with the registered group contributions. If group contributions change after transfer to the accounting system, previous vouchers will be reversed, and new vouchers will be made.
  • The function with credit deductions for tax paid to a foreign state is now expanded with automatic accounting of the credit deductions calculated by the Tax Administration. Two new accounts have been added to the reference chart of accounts: account 8310 Payable tax paid to a foreign state, including withholding tax, and 8311 Credit deduction in Norwegian tax for tax paid abroad.
  • New automatic voucher of reversal of impairment on fixed assets registered in the asset register.
  • Voucher of depreciations is improved by Period & Year calculating depreciation and comparing the calculated voucher of depreciations with vouchers already transferred to the accounting system, updating the depreciations with differences in vouchers based on changes made after the transfer to the accounting system.
  • The selection of which vouchers to make from the asset register is further improved, making it easier to select which assets require system vouchers for gain/loss on disposal, impairments, and reversal of impairments.
  • Generally, system vouchers are improved with even better interaction between Period & Year and the accounting system, ensuring that data can be transferred to the accounting system in several stages without causing issues with new calculations of system vouchers after they have been transferred to the accounting system, as well as after a new import of data from the accounting system to Period & Year is made.

Annual report

  • Override default heading in notes.
  • New note function for shares and interests in other companies, linked to the list of shares under financial products and registered interests in companies with participant allocation. (The area ‘Holdings of shares in other companies’’ in Information is removed).
  • New note for Specification of financial statement line.
  • Note for tax, new line “Too little/too much tax in previous years” with amounts from the account with reference account 8309.
  • Pre-tax results are hidden for non-taxable entities.
  • Possible to add note references to cashflow lines.
  • Change language for permanent preparation (New Norwegian, English).
  • A temporary translation of the Annual report preview can be translated into New norwegian/Norwegian/English depending on the chosen permanent language.
  • Setting on numerical format amounts to thousands or millions is also in reports.

Sole Proprietorships

  • The share owned by a spouse is now converted to the share owned by the proprietor, to ensure the same registration as under business income.
  • A report has been developed to display the transfer of data to the spouse’s tax return, allowing one to:
    • Have a report as documentation and overview of this transfer.
    • Print or send the report in PDF to the spouse or the spouse’s accountant in cases where automatic data transfer is not possible (different accountants or different systems for tax returns).
  • Transfer of the basis for primary industry deduction as part of the export to the spouse and report on transferred data.

Import functions

  • Import of financial products from Excel is now possible under the financial products function, including interest, dividends, gains, losses, and wealth value.
  • Excel import - to get a more complete chart of accounts, a standard client chart of accounts based on reference accounts in Period & Year are automatically created during import.

Export functions

  • Export of financial products to Excel. (Addtional information).
  • Export of account-specific report (business specification) to Excel. (Financial statement).
  • Export of account-specific annual report to Excel (Annual report).
  • Export of vouchers to Excel with the ability to specify which voucher types should be included in the export (closing entries).

Reports

  • Modified layout for the tax return and business specification.
  • The account-specific annual report has an improved layout with overridden headings and texts included in the report.

Submission

  • The board report can be sent as an attachment to RR-0002 Årsregnskap.
  • The user setting for rounding amounts to whole thousands or millions is also used when submitting RR-0002 Årsregnskap.
  • The ID port is now used for authentication when submitting RR-0002 Årsregnskap.

ERP-integrasjoner

  • Support for import and export of ERP data from/to Xledger.

Share register

RF-1086 - Altinn has now opened the download of pre-fill and submission of the Shareholder statement 2024. Go to Share register to update and submit new information.

Recently, we have also worked on some improvements in the Share register.

  • Share capital - pledging
    • Two new transaction types for adding and removing pledges are now available.
    • The pledges are also shown in the reports Shareholder book and Detailed shareholder book.
  • Share holders
    • Possible to import and export shareholder information from Excel.
    • Improved display of validation on Norwegian ID.
  • Reports
    • ‘Detailed shareholder book’ - added the shareholder’s email.

Read more about Share register.

Last modified December 13, 2024