Z4 Report
Planned: 365 business Banking is to support the Z4 report to the Deutsche Bundesbank for cross-border payments. The feature is not available yet.
Business Value
The Z4 report is a legal obligation for companies in Germany that make or receive cross-border payments exceeding EUR 12,500. This statistical report is submitted to the Deutsche Bundesbank according to the Foreign Trade and Payments Regulation (AWV) and serves to record international payment transactions for balance of payments statistics. Failure to submit or incorrect submission can result in fines. The planned Z4 reporting in Business Central is to identify reportable transactions automatically and create the required report files.
Payments to or from non-residents of more than EUR 12,500 (or the equivalent in foreign currency) are subject to reporting. The Deutsche Bundesbank states the reporting deadlines and reporting channels on its page Meldewesen Außenwirtschaft (external sector reporting).
Feature Description
Until then, Carry Out Payment points out for every banking provider when a payment to a non-resident exceeds EUR 12,500 and must be reported under § 67 AWV. You file the report yourself outside Business Central.
Details: What is checked before the payment