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Is there a Global Extension for China?

  • 10 July 2022
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Userlevel 4
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Hello comuninity,

 

For Setup a Company in China, I would like to confirm that China has not a Global Extension. is a global extension for China?

 

are there any Statutory Financial Reports in China, what could be a best solution for chines financial reporting?

 

Do you know if there are Financial Reports with special structure for China: • Balance Sheet • Income Statement • Cash Flow • Equity Movement • Intangible Assets • Manufacturing Expense • Sales Expense • Administration Expense • Income & Payout Non-operation?

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Best answer by ShawnBerk 11 July 2022, 03:05

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Userlevel 7
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There is not a Global Extension for China - one that is controlled by IFS R&D that is, but there is a China Localization.  The difference is in the ownership and development, as well as support.  Originally it was developed for V9 and could be had in V10 by IFS China.  During the reorganization at the beginning of 2020, IFS China was dissolved and spun off to a local company Raceku with the original IFS employees.  They still retain the code for the localization.  It includes the Jinsui invoicing system and a couple of other small bits for the core system function, and there is also a local reporting package that is ok, not great.

 

We have V9 installed and have had it live since Nov 2020 and integrated with companies in Europe and US.  We are waiting for the version to be delivered for Cloud which will complete our upgrade package, but it is still in process.

 

Best thing to do is raise an IFS case to find out what needs done to provide the integration for your installation.  IFS will initiate the integration process, but it will have to be delivered from Raceku to IFS, then setup to be delivered for your installation.  There will be a charge for it, it is not included in any of the standard system modules.  It won’t be quick, it took us more than six months from the initial request until we had it successfully tested and installed in PROD.

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Hi Guys,

Is there any updates relate to Chinese Localization for IFS cloud (22R2).

 

 

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