1. Localizations for European Reporting and SEPA Processing Implementation Guide
  2. Understanding European Union Reporting

Understanding European Union Reporting

Countries that are members of the European Union (EU) observe the Single European Act of 1987. The Single European Act is an agreement that opens markets to an area without internal boundaries, where free movement of goods, persons, services, and capital is assured in accordance with the provisions of the Treaty of Rome.

Because of the Single European Act, businesses in EU countries must adhere to EU requirements. For example, to help monitor the trade among members of the EU, businesses that exceed the limit of intraunion trade must submit these reports to the customs authorities:

  • Intrastat Report

  • European Community (EU) Sales List

Detailed statistical information regarding merchandise trade between members of the EU is used for market research and sector analysis. To maintain the statistics on trade between EU members, the statistical office of the EU and the statistical departments of member countries developed the Intrastat system.

In compliance with the Intrastat system, information on intraunion trade is collected directly from businesses. If you do business in a country that belongs to the EU, and you use the JD Edwards EnterpriseOne Sales Order Management and JD Edwards Enterprise One Procurement systems, you can set up the system to extract all of the necessary information to meet EU Intrastat reporting requirements.