My UK client has a small French office. It is not a registered company in France, but is registered for VAT their and fits into the ‘Permanent Establishment’ rule .
Which means they might need to create an FEC audit file. But I have some questions:
- Does this mean we need to setup an entire Company in IFS just to support this one interface?
- If so, do we need to setup this company with the French government chart of accounts in code part A (I note from a related topic that the FEC file does not use the Internal Ledger)
I had hoped to simply use a Code Part Value for the local office reporting, but suspect we are forced into a full blown company with Group Consolidation and account mapping just for this one audit function!
I would be interested to hear from anyone with similar requirements and how or if they got around it?