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Thanks to a special procedure, Mago4 1.3 is in line with the directive on the balance sheet provided by the European Union.

Edited by Marketing Department

With Mago4 1.3, a major implementation in tax matters has been released. It is the procedure to generate new reclassification schemes which comply with Directive 34/2013 of the European Union, required to print the financial statements according to EU rules starting from year 2016.

Directive 34/2013 / EU has in fact repealed the previous ones, concerning the discipline of the financial statements and Multicompany balance for companies with share capital and other entities identified by law. The regulations provide innovations in Europe accounting system, in order to achieve a genuine harmonization in European annual financial statements.

In Italy the adaptations to the EU directive came into effect on January 1, 2016 by Legislative Decree n. 139 of August 18, 2015 and are to be applied to financial statements relating to the period 01/01/2016 - 31/12/2016.

Even if such news does not have retroactive effect, the 2015 balance will be reclassified under the new provisions, to be compared in the 2016 balance sheet presentation.

The procedure introduced with Mago4 1.3 allows you to create new patterns from those currently in use, under specific mapping file. In Mago the balance was already processed according to EU standards, but now the conversion of schemes is a simple and quick operation.

For detailed information, please refer to the HelpCenter guide to reclassification procedure.