Italy

Path: Business functionality > Local functionality > Italy · tier official · system localization · narrative reviewed (checked by Opus)

Overview

The Italy section collects the features that adapt Business Central to Italian accounting and tax rules. The landing page “Italy local functionality” briefly summarizes the areas: VAT, withholding tax, banking and payments, core finance, inventory, fixed assets, and electronic invoicing. It names Italian VAT, VAT statements, VAT transactions reports, payment terms and automatic payments as features.

Subtopics cover each area in detail. VAT is the largest, with VAT codes and rates, transaction reports, statement submission, G/L book and VAT register printing, and Intrastat. Each of these areas has its own pages:

• Withholding tax.
• Banking and payments: bills, SEPA Credit Transfer and Direct Debit, and installments.
• Core finance: fiscal year closing, debit and credit definitions, and journal reversal limits.
• Inventory: fiscal valuation and initial costs.
• Fixed assets: alternate and compressed depreciation, and Depreciation Book reports.

The General subtopic holds company information setup, Intrastat journal templates, and the deprecated Italian Subcontracting feature. For other tasks, go to the subtopic for that area.

Key points

• VAT: set up VAT codes and rates, then prepare, create, export and correct VAT transaction reports and submit VAT statements.
• VAT also covers printing the G/L book and VAT registers, plus Intrastat reports for Italy.
• Withholding tax: set it up for vendor purchases and third-party services, and print Withholding Taxes reports for amounts payable to the Italian government.
• Banking and payments: automatic payments and bills, vendor payments and customer bills with SEPA Credit Transfer and SEPA Direct Debit, and payment terms with installments.
• Core finance: fiscal year closing, how debit and credit amounts are defined in journals and ledger entries, and restrictions on reversing journal entries.
• Inventory: fiscal inventory valuation (components valuation, estimated WIP consumption, valuation type per item) and initial item costs for average year cost.
• Fixed assets: anticipated, accelerated and reduced depreciation, compressed depreciation, multiple fixed asset cards from purchase invoices, and Depreciation Book reports.
• General: company information setup, Intrastat journal templates and batches, and the deprecated Italian Subcontracting feature with its migration.

Subtopics

• VAT (8 pages)
• Withholding tax (2 pages)
• Banking & payments (4 pages)
• Core finance (3 pages)
• Inventory (2 pages)
• Fixed assets (5 pages)
• General (3 pages)

More Learn pages

• Italy local functionality: The following outlined articles describe the local functionality in the Italian version of Business Central.

Business Central pages and reports

The pages, reports and queries this hub’s Learn pages name (ms.search.form, API reference), joined to the code by exact object id (data/index/docs-objects.json); a page shows the table it runs on.

Learn also names 60 objects with no object page: page/12100, page/12102, page/12103, page/12104, page/12105, page/12111, page/12112, page/12113, page/12116, page/12119, page/12121, page/12122, page/12123, page/12126, page/12127, page/12132, page/12133, page/12135, page/12140, page/12141, page/12143, page/12149, page/12150, page/12151, page/12152, page/12153, page/12154, page/12155, page/12156, page/12158, page/12170, page/12171, page/12172, page/12173, page/12174, page/12175, page/12176, page/12178, page/12180, page/12181, page/12182, page/12183, page/12184, page/12185, page/12186, page/12187, page/12188, page/12189, page/12190, page/12192, page/12193, page/12194, page/12195, page/12198, page/12199, page/12202, page/12203, page/12204, page/35490, page/35491.

Source: Microsoft Learn (CC BY 4.0). Descriptions are Learn’s own.