How to prepare a report on controlled transactions in Microsoft Dynamics NAV from scratch?

Mindcore company has automated controlled transactions reporting for Flowserve in Microsoft Dynamics NAV. As a representative of a foreign state, the company is required to notify annually the tax authorities of the international transactions.

The Flowserve company has thousands of international deals every year, to prepare declarations manually seems like an impossible task, automation of this process was inevitable. The Declaration developed by Mindcore is an XML-document with each transaction report generated as a separate declaration sheet.

To prepare the report Mindcore loaded new reference data: TN VED in Item cards, full address and bank details of all foreign suppliers, numbers and dates of the transactions.

“Preparing data for the report was the” bottleneck” issue in this task, – says Grigory Sotski, Head of Development at Mindcore, – There was a lot of data to put into the system, some data wasn’t correct and some has been lost. After all the data recovery and testing activities, we had just a few hours to submit the report. As a result, two hours before the expiry date the report has been successfully approved by the Internal Revenue Service.”

“The next step we want to take is to customize this functionality to ensure that data is introduced to the system in a right order and without mistakes, – shares his plans Ilya Kolosov, NAV Practice Director at Mindcore. – Then the new reports will be prepared on time and without much hassle.”
Flowserve is a world leader in supplying pumps, valves, seals and management services in the energy, oil and gas, chemical and other industries. The corporation employs 14,000 employes in more than 56 countries.