In the past 20 years, more and more enterprises in China have started to use computerized accounting software to deal with daily accounting issues. Compare with the use of financial software in America and Europe, there are far stricter rule in China. Company using financial system should be implemented in accordance with a series rules from local government. The outputs of financial reports, vouchers and ledgers should pass the auditing and get approval certification from local finance and tax bureau. It means the company is legally using its financial system in China without potential penalty risk from local finance and tax bureau. The following is road map of software approval in China.
  

• Mid 90', All ERP/Financial software should be approved by China Central Finance Ministry (CCFM) if they want to be legally used in China. The basic condition for getting the approval is 10+ end users who can meet the requirements from CCFM.
• 1998-2001, Software Approval policy cancelled by CCFM and Local Finance Bureau (LFB) was authorized for the Software Project Approval and changed to Software Approval for Record later.
• 2002, Data Interface Standard (DB31/T270-2002) was launched by Shanghai Finance Bureauwhich indicated software approval in China entered into a new milestone.
• 2003-2005, Data Interface Standard (DB31/T270-2002) started to implement in Shanghai in the second year of 2003 and started to spread to other cities in china in 2005

But as a matter of fact, the financial systems of many Foreign Invested Enterprises (FIEs) are implemented by global blueprint and consider little compliance to local requirements. Most of foreign financial softwares used in mainland China can not meet the full requirements from local government. Some companies have borne penalties more and less from local government. The others have been warned by local finance and tax bureau for several times. In order to fully obviate the potential penalty risk of using foreign financial software in mainland China, you need localization expert for foreign financial software.

HBS Financial Localization Solution(FLS) is one of the flagship products of HBS. In the early stage, HBS FLS was regarded as the China Finance Module of Accpac, the best-selling financial software worldwide, to meet China specific financial environment. In the following years, the China Finance Module has extended its integration with other active financial software in mainland China. The prestigious name includes: SAP, Oracle, JDEdwards, QAD, Intentia, Forthshift, Epicor, Glovia and Adonix etc. With the software development philosophy of global vision and local implementation, HBS commercialized the China Finance Module as HBS FLS and started to promote the product in mainland China in 2000. The target clients of HBS FLS mainly are Fortune500/Forbes2000 and fast growing enterprises in China. HBS FLS consists of General Ledger Localization/Software Approval, Golden Tax Localization, Fixed Assets Localization, Payroll Localization and eClaim Localization.

HBS Financial Localization Solution (FLS) is the security and permit that Multi-national Corporations legally use foreign financial software in China. Leveraging this foundation, you can easily obviate the potential risk from local finance and tax bureau as well as improve work efficiency you need today – and tomorrow. HBS FLS also can easily deal with the auditing from internal and external audit firm. HBS FLS draws from more than 8 years of experience with more than 500 multi-national companies nationwide. It delivers the powerful functionality, local orientation, and flexible enhancement package options you need to gain a sustainable, competitive advantage and position your organization for cost control and profitable growth.