In recent times, amidst the demand for Invoicing System compliance and adherence to the Electronic Bookkeeping Law, many foreign-affiliated Japanese corporations are facing difficulties. Some have been using accounting software developed overseas as per their parent company's instructions, but they are unable to comply with the Invoicing System and Electronic Bookkeeping Law. Others are using Japanese accounting software but manually performing currency conversion and English translation for reporting to their head office. It is likely that many people are facing such challenges.
In addition, many Japanese companies engaged in international transactions are facing challenges as well. They state that with Excel or Japanese accounting systems, they are unable to handle foreign currencies, thus resorting to manual currency conversion using calculators and other tools. It seems to be a laborious and time-consuming process. In fact, at this juncture when compliance with the Invoicing System and Electronic Bookkeeping Law, as well as the resumption of business in full swing after the COVID-19 pandemic, many companies are considering switching their accounting software. We frequently hear the voices of such companies.
Therefore, in this article, shows a few key features of GLASIAOUS (Gracious), a cloud-based international accounting and ERP service that offers compatibility with foreign currencies, with
「Foreign currency support」×
「The Invoicing System and Electronic Bookkeeping Law」
"We would like to propose solutions to address the challenges through IT system. Please feel free to consult with us for further discussion.
Key features of GLASIAOUS (Gracious), a cloud-based international accounting and ERP service
１．Multi-currency support
GLASIAOUS offers multi-currency support, eliminating the need to separately manage transaction details in both "foreign currency" and "Japanese yen" using tools like Excel. You can simply manage and register foreign currencies as needed.
✓ When entering journal entries, GLASIAOUS retains both the input in foreign currency and the calculated Japanese yen amount based on the pre-set exchange rate.
Possible to view the balances in both foreign currency and yen conversion amounts.
✓ When offsetting accounts receivable and accounts payable or during the end of period (month-end), journal entries for foreign exchange gains or losses are automatically generated based on the closing exchange rates. This enables you to instantly understand the balance sheet (B/S) including foreign exchange gains or losses.
✓ Supports both the wash method and the spot method.
２．Invoice System and Electronic Bookkeeping Law compliance
GLASIAOUS is widely used by many Japanese corporations and is already compatible with the Invoicing System, supporting valid invoices and consumption tax aggregation. In addition, a feature to check whether the user is a registered business entity or not is planned to be implemented in the future.
Furthermore, GLASIAOUS has obtained JIIMA certification for all aspects of the Electronic Bookkeeping Law, including electronic bookkeeping software, scanner storage software, electronic transaction software, and electronic document software. Therefore, you can confidently use it as a software solution compliant with the Electronic Bookkeeping Law.
３．Reliability through a Wealth of Experience
GLASIAOUS is currently being used by over 1,300 clients across 31 countries and regions. We collaborate with accounting firms and tax accounting corporations in each country to develop and provide our services. In addition to system support, we offer bookkeeping outsourcing, tax filing support, advisory services, and more, ensuring comprehensive assistance beyond just software solutions.
In addition, we provide a self-introduction document set called 'Quick Start,' which minimizes initial costs. We also offer flexible analysis axes and internal control features that cater to listed companies. This allows for a tailored and adaptable implementation and usage based on the size and industry of our clients.
If you would like to know what can be achieved with GLASIAOUS, explore its detailed features, or see actual operating screens,
please feel free to consult with us. We are more than happy to assist you.
