A smooth transition to the new leu for SIVECO Romania’s clients | SIVECO Romania

A smooth transition to the new leu for SIVECO Romania’s clients

Thursday, June 2, 2005

Bucharest, June 2, 2005 - The process of the national currency denomination is coming, and Romanians will have to deal with a new challenge, the national currency denomination. This change will affect natural persons as well as legal ones.

For SIVECO Romania’s clients, the migration to the new leu is not going to be a problem, as the information systems update is deployed according to schedule and contractual settlements.

The preparation actions for the national currency denomination represented have been carefully planed and executed by the SIVECO Romania’ specialists.  They tested the system components, established the denomination scenario and tested the denomination application, according to the denomination schedule for each client.

Final tests are made for each beneficiary, depending on the moment the denomination procedures are applied.

SIVECO Romania already started the preparations for these changes in October 2004, and the integration of the new elements according with Law 348/14.07.2004 and Law 82/1991 republished, were implemented at beneficiary companies that use SIVECO Romania software maintenance services. 

The updates are for clients in the most diverse industries: financial-banking and insurance, utilities, central and local administration, transports, private companies etc.

Some of the advantages for those who choose to update the information systems in order to face the denomination are:

  • Data conversion to the new currency by the „one way once” method;
  • The new fiscal invoice format, sales ledgers, cash ledgers, bills and receipts;
  • Price evidence in new and old currency;
  • Value converter integrated in the payroll and human resources application;
  • Fiscal reports in new and old currency;
  • Cash reports in new and old currency.
We are pleased we succeeded to meet our commitments regarding safe transition through denomination process, for our clients, regarding the events starting July 1”, said Irina Socol, general manager, SIVECO Romania.