last updated: march 2004 1 of 55 da1233 - sales vat postings

Last Updated: March 2004 1 of 55

DA1233 - Sales VAT Postings





Sales VAT Postings Overview

Sales VAT Postings:•This feature implements changes that ensure all VAT postings can be reconciled easily against the revenue postings within the GL•All revenue is posting against Revenue Type accounts within the GL•All revenue accounts have an assigned VAT Code•All reports show clear reconciliation and traceability between revenue and VAT postings

System Audit and Traceability:•Extended and Consistent Audit & Reporting•Access to Historical Archived Information•Pre-defined Audit Set Up

Data Integrity:•Secure use of options that modify data•Disable particular types of data modification

Sales VAT Postings:•This feature implements changes that ensure all VAT postings can be reconciled easily against the revenue postings within the GL•All revenue is posting against Revenue Type accounts within the GL•All revenue accounts have an assigned VAT Code•All reports show clear reconciliation and traceability between revenue and VAT postings

System Audit and Traceability:•Extended and Consistent Audit & Reporting•Access to Historical Archived Information•Pre-defined Audit Set Up

Data Integrity:•Secure use of options that modify data•Disable particular types of data modification



Sales VAT Postings - Areas of Change

The following areas of the system have been amended for this project::

•General Configuration• General Ledger• Accounts Receivable/Accounts Payable• Cash Management• Sales Order Entry & Invoicing• EDI Input• Telesales• Returns and Repairs• Contract Management • Project Accounting• Project Billing• Sales VAT Reporting

The following areas of the system have been amended for this project::

•General Configuration• General Ledger• Accounts Receivable/Accounts Payable• Cash Management• Sales Order Entry & Invoicing• EDI Input• Telesales• Returns and Repairs• Contract Management • Project Accounting• Project Billing• Sales VAT Reporting



General Configuration



General Configuration - VAT Codes

This option has been modified so that the Ledger field is now validated. This option has been modified so that the Ledger field is now validated.

With this project licensed, this field CANNOT be blank, I.e it must always contain a ledger code of either R or P.

With this project licensed, this field CANNOT be blank, I.e it must always contain a ledger code of either R or P.

Note: You will now have to define the relevant G/L posting codes as revenue type accounts and add the relevant VAT code. See Slide 8.

Note: You will now have to define the relevant G/L posting codes as revenue type accounts and add the relevant VAT code. See Slide 8.



General Configuration - Control Accounts

This option has also been modified to ensure that the revenue type control accounts have the correct validation.

This option has also been modified to ensure that the revenue type control accounts have the correct validation.

The Interest Charge account has been validated to only allow revenue type posting codes to be entered/browsed upon.

The Interest Charge account has been validated to only allow revenue type posting codes to be entered/browsed upon.

All other posting codes on this form are now validated to only allow non-revenue accounts.

All other posting codes on this form are now validated to only allow non-revenue accounts.



General Ledger



General Ledger - Posting Codes

This option has been modified to define the G/L posting code as a revenue account and enter the VAT code

This option has been modified to define the G/L posting code as a revenue account and enter the VAT code

Tick this check box if this posting code is a revenue account

Tick this check box if this posting code is a revenue account

If the Revenue tick box is checked, type in or browse and select the associated VAT code

If the Revenue tick box is checked, type in or browse and select the associated VAT code



General Ledger - Posting Codes

This option has also been modified to allows you to define the Revenue and Deferred Revenue contra for G/L posting codes used for revenue with Contract Management

This option has also been modified to allows you to define the Revenue and Deferred Revenue contra for G/L posting codes used for revenue with Contract Management

Type in or browse and select the required posting codes for Contract Management actual revenue and deferred revenue contra. These posting codes must be non-revenue accounts.

Type in or browse and select the required posting codes for Contract Management actual revenue and deferred revenue contra. These posting codes must be non-revenue accounts.



General Ledger - Journal Entry

This option has been modified to validate the VAT code against the posting code on each detail line, if it is a revenue account.

This option has been modified to validate the VAT code against the posting code on each detail line, if it is a revenue account.

For revenue type posting codes entered, the program automatically adds the associated VAT code to that line.

For revenue type posting codes entered, the program automatically adds the associated VAT code to that line.

If you entered a different VAT code, a popup message appears indicating that it is invalid.

If you entered a different VAT code, a popup message appears indicating that it is invalid.




To view the VAT details, select F14-VAT.To view the VAT details, select F14-VAT.

The VAT code is calculated automatically. The program assumes that the VAT is inclusive in the transaction amount.

The VAT code is calculated automatically. The program assumes that the VAT is inclusive in the transaction amount.




The VAT details are then displayed for each line. The VAT details are then displayed for each line.

To amend the VAT amount - select F8-Amend.

To amend the VAT amount - select F8-Amend.

The goods amount is adjusted accordingly, so that the line total remains the same

The goods amount is adjusted accordingly, so that the line total remains the same

The journal can now be completed as normal.The VAT details are then displayed for each line.

The journal can now be completed as normal.The VAT details are then displayed for each line.



Accounts Receivable/Accounts Payable



A/R & A/P - Invoice Entry

The Invoice entry details lines within both Accounts Receivable and Accounts Payable have been modified to validate the posting code entered with the ledger.

The Invoice entry details lines within both Accounts Receivable and Accounts Payable have been modified to validate the posting code entered with the ledger.

In A/P invoices the posting codes must be non-revenue type accounts.

In A/P invoices the posting codes must be non-revenue type accounts.In A/R invoices, only posting codes that are

revenue type accounts can be entered/browsed upon on the detail lines.

In A/R invoices, only posting codes that are revenue type accounts can be entered/browsed upon on the detail lines.



A/R & A/P - Invoice Entry

When the detail line is accepted, the VAT is calculated and the VAT line generated automatically. The same restrictions also apply when amending invoice batches via the Batches option.

When the detail line is accepted, the VAT is calculated and the VAT line generated automatically. The same restrictions also apply when amending invoice batches via the Batches option.

Note: You cannot amend the VAT lines or override the calculation, unless the user has authorisation.


Authorised users must belong to a user group and this user group must be set up on the new system key SLMODVxxxx, where xxxx is the user group name. and this key is set to YES (PLMODVxxxx, for A/P invoices).

Authorised users must belong to a user group and this user group must be set up on the new system key SLMODVxxxx, where xxxx is the user group name. and this key is set to YES (PLMODVxxxx, for A/P invoices).

Only then can the VAT amount and posting code (only) be amended on each line.

Only then can the VAT amount and posting code (only) be amended on each line.

The VAT code matches that defined on the posting code

The VAT code matches that defined on the posting code

Note: This also applies to short codes and posting codes generated from Project Accounting.

Note: This also applies to short codes and posting codes generated from Project Accounting.



A/R & A/P - Batches enquiryWhen amending a batch via the Batches option, only users that have authorisation can amend items. Users without authorisation can only view, print and post the batch. This applies to Accounts Receivable and Accounts Payable batches.

When amending a batch via the Batches option, only users that have authorisation can amend items. Users without authorisation can only view, print and post the batch. This applies to Accounts Receivable and Accounts Payable batches.

A warning message appears, if your user is not set up to amend batches.

A warning message appears, if your user is not set up to amend batches.

A user is authorised when they belong to a user group which has authorisation denoted by the system keys SLMODBxxxx or PLMODBxxxx, where xxxx is the user group name. This system key must also be set to YES.

A user is authorised when they belong to a user group which has authorisation denoted by the system keys SLMODBxxxx or PLMODBxxxx, where xxxx is the user group name. This system key must also be set to YES.



Accounts Receivable - Interest Charge List Generation

The Interest Charge List Generation option has been modified.The Interest Charge List Generation option has been modified.

The VAT code entered in the field Zero Rate VAT code must be that associated with the Interest Charge control account, otherwise the posting is rejected.

The VAT code entered in the field Zero Rate VAT code must be that associated with the Interest Charge control account, otherwise the posting is rejected.



Cash Management



Cash Management - Receipts/Payments

The Payments and Receipts options have been modified on the detail lines, as follows:The Payments and Receipts options have been modified on the detail lines, as follows:



Authorised users must belong to a user group and this user group must be set up on the new system key CBMODVxxxx, where xxxx is the user group name, and this key is set to YES.

Authorised users must belong to a user group and this user group must be set up on the new system key CBMODVxxxx, where xxxx is the user group name, and this key is set to YES.

If the posting code entered here is a revenue type account, (or mapped to by the Project/expense combination, if Project Accounts is installed), the VAT code is updated automatically with the VAT code associated with the posting code entered.

If the posting code entered here is a revenue type account, (or mapped to by the Project/expense combination, if Project Accounts is installed), the VAT code is updated automatically with the VAT code associated with the posting code entered.



Sales Order Entry & Invoicing



Sales Order Entry & Invoicing - Cost of Sales Codes

The Cost of Sales Codes option has been modified so that the each cost of sales account is validated with the correct type of G/L posting code.

The Cost of Sales Codes option has been modified so that the each cost of sales account is validated with the correct type of G/L posting code.

Only revenue type posting codes can be entered for the Sales Account.

Only revenue type posting codes can be entered for the Sales Account.

Only non-revenue accounts can be entered for the Stock and COS accounts

Only non-revenue accounts can be entered for the Stock and COS accounts



Order Value Discounts

A new set of system keys - OPNLDSCxxx has been created to hold Revenue G/L posting codes per associated VAT code, where xxx is the VAT code. A system key per G/L revenue posting code/VAT code combination MUST be created BEFORE you use your system. When you create these keys via the System Keys>Distribution> Order Entry & Invoicing, the VAT and G/L combination entered is validated.

Order Value Discount GL postings are posted to separate Revenue Type GL Posting Codes for each VAT code used on a Sales Order by apportioning the discount across each order line. The order discounts are split across all order lines if either OPSPLITDSC OR OPSPLITVAT are set to YES. This is to ensure that the Sales VAT Report correctly reconciles the VAT postings and that both revenue and accompanying discount postings are reported correctly.

This applies to Sales Orders, Invoices, Credit Notes, Telesales Orders and EDI Sales Orders.

Order Value Discounts

A new set of system keys - OPNLDSCxxx has been created to hold Revenue G/L posting codes per associated VAT code, where xxx is the VAT code. A system key per G/L revenue posting code/VAT code combination MUST be created BEFORE you use your system. When you create these keys via the System Keys>Distribution> Order Entry & Invoicing, the VAT and G/L combination entered is validated.

Order Value Discount GL postings are posted to separate Revenue Type GL Posting Codes for each VAT code used on a Sales Order by apportioning the discount across each order line. The order discounts are split across all order lines if either OPSPLITDSC OR OPSPLITVAT are set to YES. This is to ensure that the Sales VAT Report correctly reconciles the VAT postings and that both revenue and accompanying discount postings are reported correctly.

This applies to Sales Orders, Invoices, Credit Notes, Telesales Orders and EDI Sales Orders.

Sales Order Entry & Invoicing - Order Value Discounts



Extended Discounts (DA0514)

If your system is set up to use Extended Discounts (DA0514),The charge Scheme Discounts have been amended as follows:

• Charge Scheme Discounts now post to separate Revenue Type G/L posting codes for each VAT code used on Sales Orders, Invoices, Credit Notes and EDI Orders.

• Each Charge Scheme has a separate set of VAT code and Revenue Type posting codes held within a new extension table. The VAT code entered on each sales order line determines which posting code is used, based upon the G/L posting code/VAT code combination set up within the Charge Scheme.

Extended Discounts (DA0514)

If your system is set up to use Extended Discounts (DA0514),The charge Scheme Discounts have been amended as follows:

• Charge Scheme Discounts now post to separate Revenue Type G/L posting codes for each VAT code used on Sales Orders, Invoices, Credit Notes and EDI Orders.

• Each Charge Scheme has a separate set of VAT code and Revenue Type posting codes held within a new extension table. The VAT code entered on each sales order line determines which posting code is used, based upon the G/L posting code/VAT code combination set up within the Charge Scheme.

Sales Order Entry & Invoicing - Extended Discounts



Sales Order Entry & Invoicing - Charge Scheme Entry

The Cost of Sales If your system is also set up to use Extended Discounts (DA0514), an additional form has been added to Charge Scheme Entry option.

The Cost of Sales If your system is also set up to use Extended Discounts (DA0514), an additional form has been added to Charge Scheme Entry option.

Accept the main screen and the new VAT and G/L Posting code entry form is displayed.

Accept the main screen and the new VAT and G/L Posting code entry form is displayed.

This form allows you to enter the G/L posting codes for each sales VAT code for the current charge scheme.

This form allows you to enter the G/L posting codes for each sales VAT code for the current charge scheme.

When you have entered/selected the G/L posting code, the VAT code associated with the posting code is update automatically in this field.

When you have entered/selected the G/L posting code, the VAT code associated with the posting code is update automatically in this field.

Only revenue type posting codes can be entered/selected here.

Only revenue type posting codes can be entered/selected here.



Sales Order Entry & Invoicing - Orders/Invoices/Credit Notes/Quotations/Standard Orders

When the product or service line is accepted, the program now checks that the:When the product or service line is accepted, the program now checks that the:

Sales account from the Cost of Sales matrix or OPNLGDSxxx system keys is a revenue account.

Sales account from the Cost of Sales matrix or OPNLGDSxxx system keys is a revenue account.

It also checks that the VAT code allocated to the detail line matches that assigned to the sales account revenue posting code.

It also checks that the VAT code allocated to the detail line matches that assigned to the sales account revenue posting code.

If either of the above fails, an error message is displayed.

If either of the above fails, an error message is displayed.



Sales Order Entry & Invoicing - Orders/Invoices/Credit Notes/Quotations/Standard Orders

If the system key OPNLACCESS is set to YES, you can correct the G/L code via the F7-Code function.

If the system key OPNLACCESS is set to YES, you can correct the G/L code via the F7-Code function.

Only Revenue type posting codes can be selected/entered.

Only Revenue type posting codes can be selected/entered.

Note: This validation also applies to Credit Notes when they are created within Returns and Repairs. If validation fails, the credit note is rejected.

Note: This validation also applies to Credit Notes when they are created within Returns and Repairs. If validation fails, the credit note is rejected.



EDI Input



EDI Input - Sales Order Generation

This option has been amended so that when Sales Orders are generated, the system checks that the G/L posting codes are revenue accounts and that the G/L posting code and VAT combinations are valid.

This option has been amended so that when Sales Orders are generated, the system checks that the G/L posting codes are revenue accounts and that the G/L posting code and VAT combinations are valid.

If the validation fails, the order generation will fail. The line is rejected and a message is written to the system log.

If the validation fails, the order generation will fail. The line is rejected and a message is written to the system log.



Telesales



Telesales - Sales Orders

Sales Orders

• The same functionality that is within Sales Order also applies to Telesales Sales orders.

• In addition, the Telesales special offers and carriage charge calculation generate additional lines. If the default values used to generate the new line do not have valid G/L Posting code/VAT combination, the line generation fails and an error message is displayed.

Sales Orders

• The same functionality that is within Sales Order also applies to Telesales Sales orders.

• In addition, the Telesales special offers and carriage charge calculation generate additional lines. If the default values used to generate the new line do not have valid G/L Posting code/VAT combination, the line generation fails and an error message is displayed.



Returns and Repairs



Returns and Repairs - Credit Notes

Credit Notes

• The Returns and Repairs Credit Notes have been modified to allow Credit Notes to be created with correct GL Posting Codes and valid VAT and Revenue GL Posting Code combinations.

• By applying the same validation rules as SOP Order Entry, the system will reject Credit Note creation if the rules fail.

Credit Notes

• The Returns and Repairs Credit Notes have been modified to allow Credit Notes to be created with correct GL Posting Codes and valid VAT and Revenue GL Posting Code combinations.

• By applying the same validation rules as SOP Order Entry, the system will reject Credit Note creation if the rules fail.



Contract Management



Contract Management - Overview of Changes

Overview

Contract management enables contracts to be created for the delivery of services, charged in multiple ways for multiple customers over any time period. These contracts generate revenue that is posted to Accounts Receivable and General Ledger. Therefore, Contract Management enables the use of revenue type posting codes when creating revenue postings and non-revenue type posting codes for all other postings. Where revenue is posted, the system ensures that any revenue is associated with the correct VAT code allowing correct analysis of the VAT liability within the General Ledger.

Revenue from contracts is created based on the contract details – the items to be billed, charges and charge periods. A Charging Run calculates the actual and deferred charges for a particular contract, or range of contracts, ready for Invoice Generation to create the relevant invoices. These invoices can then be posted into Accounts Receivable and the General Ledger.

In order to meet the requirement, a validation is used in Contract Management in specific places to ensure that the contracts and any other static data is set up correctly. Transactions (Sales Ledger and GL postings) are created to conform to the new rules regarding revenue and VAT coding of revenue.

Overview

Contract management enables contracts to be created for the delivery of services, charged in multiple ways for multiple customers over any time period. These contracts generate revenue that is posted to Accounts Receivable and General Ledger. Therefore, Contract Management enables the use of revenue type posting codes when creating revenue postings and non-revenue type posting codes for all other postings. Where revenue is posted, the system ensures that any revenue is associated with the correct VAT code allowing correct analysis of the VAT liability within the General Ledger.

Revenue from contracts is created based on the contract details – the items to be billed, charges and charge periods. A Charging Run calculates the actual and deferred charges for a particular contract, or range of contracts, ready for Invoice Generation to create the relevant invoices. These invoices can then be posted into Accounts Receivable and the General Ledger.

In order to meet the requirement, a validation is used in Contract Management in specific places to ensure that the contracts and any other static data is set up correctly. Transactions (Sales Ledger and GL postings) are created to conform to the new rules regarding revenue and VAT coding of revenue.



Contract Management - Charging Run

This option has been amended to provide a cross-check on the set up of the contract to validate the G/L postings and VAT codes to ensure they match.

This option has been amended to provide a cross-check on the set up of the contract to validate the G/L postings and VAT codes to ensure they match.

TO run this facility, tick the Dummy Run check box.

TO run this facility, tick the Dummy Run check box.

Then tick the Validate GL Coding check box.

Then tick the Validate GL Coding check box.

Select CR-Accept to begin the charging run.

Select CR-Accept to begin the charging run.

Once the charge run is complete, it is possible to generate invoices against the charge run and subsequently revenue and deferred postings within Account Receivable and General Ledger.

Once the charge run is complete, it is possible to generate invoices against the charge run and subsequently revenue and deferred postings within Account Receivable and General Ledger.

If this field is not ticked, no more additional validation takes place.

If this field is not ticked, no more additional validation takes place.



Contract Management - G/L Rule Codes

Within the Accounts Set Details of the G/L Rule Codes, the system now checks that the first G/L Posting code in each of the G/L Account Sets defined for Revenue and Deferred Revenue are the same.

Within the Accounts Set Details of the G/L Rule Codes, the system now checks that the first G/L Posting code in each of the G/L Account Sets defined for Revenue and Deferred Revenue are the same.

If they are not, a warning is displayed.

If they are not, a warning is displayed.



Contract Management - G/L Account Sets

The G/L Account Sets option has been amended so that all G/L posting codes entered for an account set must now only be a revenue type account, and that the VAT codes for the G/L posting codes are the same.

The G/L Account Sets option has been amended so that all G/L posting codes entered for an account set must now only be a revenue type account, and that the VAT codes for the G/L posting codes are the same.

When you browse on this field, only revenue type accounts are available for selection.

When you browse on this field, only revenue type accounts are available for selection.

This ensures all revenue can be reconciled against revenue GL posting codes and the relevant VAT code.

This ensures all revenue can be reconciled against revenue GL posting codes and the relevant VAT code.



Contract Management - Post Deferred Revenue

This option has been amended so that two additional balancing postings to a deferred revenue contra and actual revenue are made when the deferred revenue is recognised.

This option has been amended so that two additional balancing postings to a deferred revenue contra and actual revenue are made when the deferred revenue is recognised.

The Actual revenue and Deferred Revenue Contra posting codes are defined on original deferred revenue posting code record - see Slide 9.

The Actual revenue and Deferred Revenue Contra posting codes are defined on original deferred revenue posting code record - see Slide 9.



Contract Management - Post Deferred Revenue Example

Example of Postings:

Create G/L Rule Code called REVENUE with A/C Set Details of:

Revenue set: REVDeferred Revenue set: DEFREV

Create a contract and add the rule code REVENUE and a charge for £900. Post the

whole deferred amount. The postings are as follows:

Description Revenue A/Cs CR DRDeferred revenue A/C R-01-10-01-005 900Deferred revenue contra N-01-10-01-002 900Actual Revenue N-01-10-01-001 900

The actual revenue and deferred revenue contra accounts are those accounts specified in the original.

Example of Postings:

Create G/L Rule Code called REVENUE with A/C Set Details of:

Revenue set: REVDeferred Revenue set: DEFREV

Create a contract and add the rule code REVENUE and a charge for £900. Post the

whole deferred amount. The postings are as follows:

Description Revenue A/Cs CR DRDeferred revenue A/C R-01-10-01-005 900Deferred revenue contra N-01-10-01-002 900Actual Revenue N-01-10-01-001 900

The actual revenue and deferred revenue contra accounts are those accounts specified in the original.



Project Accounting



Project Accounting - Project Transactions

Project Transactions

Although the Project Billing module itself has not changed, if your system is set up to use Project Accounting, when project transactions are posted, the system now checks that the mapped posting codes are revenue type codes and that the VAT code on the detail line matches that associated with the mapped posting code.

Project Transactions

Although the Project Billing module itself has not changed, if your system is set up to use Project Accounting, when project transactions are posted, the system now checks that the mapped posting codes are revenue type codes and that the VAT code on the detail line matches that associated with the mapped posting code.



Project Billing



Project Billing - G/L Rule Codes

This option now checks that any revenue type expense codes now map to only revenue posting codes, where a specific Contract/Service instance has been defined for the G/L rule code.

This option now checks that any revenue type expense codes now map to only revenue posting codes, where a specific Contract/Service instance has been defined for the G/L rule code.

If they do not, an error message is displayed, indicating which account type is incorrect.

If they do not, an error message is displayed, indicating which account type is incorrect.

You will then have to go and check the mapped codes within Project Accounting for the project defined on the contract specified above.

You will then have to go and check the mapped codes within Project Accounting for the project defined on the contract specified above.



Project Billing - Billing Contract Maintenance

When defining the project rule codes within the service, the program now checks that the revenue code maps to a revenue type posting code.

When defining the project rule codes within the service, the program now checks that the revenue code maps to a revenue type posting code.

If it does not, an error message is displayed.

If it does not, an error message is displayed.




When defining the financial instruction lines within the contract service, the program now checks that the VAT code entered is that associated with the revenue account posting code generated by the project and revenue code combination associated with this financial instruction line.

When defining the financial instruction lines within the contract service, the program now checks that the VAT code entered is that associated with the revenue account posting code generated by the project and revenue code combination associated with this financial instruction line.

If the VAT code does not match the criteria, an error message is displayed.

If the VAT code does not match the criteria, an error message is displayed.




If a contract status is changed to either TEST or ACTIVATE, the system now checks that the VAT codes and posting codes generated by the project/revenue code combinations are validated to ensure that the VAT code allocated to any revenue codes used is the same as that allocated to the contract.

If a contract status is changed to either TEST or ACTIVATE, the system now checks that the VAT codes and posting codes generated by the project/revenue code combinations are validated to ensure that the VAT code allocated to any revenue codes used is the same as that allocated to the contract.

If any errors have been found a message is displayed.

If any errors have been found a message is displayed.



Project Billing - Hold and Approve Authorisation

Extra checks are made when amending the VAT code within revenue details for either Fixed Price or Time and Materials type recommendations. The system now checks that the new VAT code is the same as that allocated to the revenue account posting code generated by the project/revenue code combination associated with these recommendations.

Extra checks are made when amending the VAT code within revenue details for either Fixed Price or Time and Materials type recommendations. The system now checks that the new VAT code is the same as that allocated to the revenue account posting code generated by the project/revenue code combination associated with these recommendations.



Project Billing - Revenue Recognition

This option has been amended to check the validity of the G/L posting codes before any journals are created.

This option has been amended to check the validity of the G/L posting codes before any journals are created.

Tick the new field ‘Check G/L’ to check the validity of the G/L posting codes.

Tick the new field ‘Check G/L’ to check the validity of the G/L posting codes.

Set the Create G/L Journals field to N, so the option is run in ‘report’ mode only.

Set the Create G/L Journals field to N, so the option is run in ‘report’ mode only.



Sales & Purchase VAT Reporting



VAT Sales Report - Summary

Sales VAT Report - summary

A new report - VAT Sales Report has been added to General Configuration to reconcile the sales revenue transactions and associated VAT.

Only VAT codes with the Ledger code set to R are included in this report.This report is only available if both DA1233 and DA0370 (European Tax)

are licensed.When this report is spooled, the system searches for all valid revenue G/L

posting codes for the selected VAT codes and lists transactions posted to each of these, plus transactions posted to the VAT G/L code stored on the VAT Code record.

Sales VAT Report - summary

A new report - VAT Sales Report has been added to General Configuration to reconcile the sales revenue transactions and associated VAT.

Only VAT codes with the Ledger code set to R are included in this report.This report is only available if both DA1233 and DA0370 (European Tax)

are licensed.When this report is spooled, the system searches for all valid revenue G/L

posting codes for the selected VAT codes and lists transactions posted to each of these, plus transactions posted to the VAT G/L code stored on the VAT Code record.



Other General Configuration Reports - Summary

Additional changes have also been made to the following reports:

Purchase VAT RegisterPurchase EC VAT RegisterSales VAT RegisterSales EC VAT RegisterSummary VAT Register

The changes to the above reports are as follows:

Selection criteria is printed at the top of each reportThe reports (except Summary VAT Register) now sort by VAT/GL Posting

code within the effective dateThe fields: VAT Code Description, VAT G/L posting code and VAT Ledger

Code are now available for printing on each detail line of the reports.

Additional changes have also been made to the following reports:

Purchase VAT RegisterPurchase EC VAT RegisterSales VAT RegisterSales EC VAT RegisterSummary VAT Register

The changes to the above reports are as follows:

Selection criteria is printed at the top of each reportThe reports (except Summary VAT Register) now sort by VAT/GL Posting

code within the effective dateThe fields: VAT Code Description, VAT G/L posting code and VAT Ledger

Code are now available for printing on each detail line of the reports.



A new report option is available within General Supporting Files which allows you to reconcile sales revenue transactions and their associated VAT postings.

A new report option is available within General Supporting Files which allows you to reconcile sales revenue transactions and their associated VAT postings.

VAT Sales Report - Selections

To restrict the period/year covered by this report, type in the period/year range.

To restrict the period/year covered by this report, type in the period/year range.

Type in a range of VAT codes or leave blank for all VAT codes. Only Revenue type VAT codes can be selected/entered.

Type in a range of VAT codes or leave blank for all VAT codes. Only Revenue type VAT codes can be selected/entered.

Type D to print all sales revenue and associated VAT transactions. Type S to only print the posting code and VAT code sub-totals.

Type D to print all sales revenue and associated VAT transactions. Type S to only print the posting code and VAT code sub-totals.

Type CR-Accept to run the report.

Type CR-Accept to run the report.



Company name: Sage UK Base currency: STG User name: lkerry Period/Year range : 03/03 – 03/03 Date range : xx/xx/xxxx – xx/xx/xxxx VAT code range: xxx - xxx

VAT code: V1 Description: Sales VAT Register: R01 VAT Rate: 17.5%

Revenue posting/s

Posting Code DescriptionTrans Date Eff. Date Journal Base Value Transaction Value VAT Protocol

1-01-10-01-001 Sales – Pumps

25/02/03 01/03/03 OP/I001609 100.00 100.00 000000067807/03/03 07/03/03 OP/I001627 233.12 233.12 000000071021/03/03 21/03/03 OP/I001655 51.75 51.75 Not Available25/03/03 25/03/03 OP/I001708 1059.83 1059.83 0000000782Total 1444.70 1444.70

1-01-10-01-002 Sales – Tyres

14/03/03 14/03/03 OP/I001738 19.87 19.87 0000000744Total 19.87 19.87

VAT posting/s

9-99-60-04-003 Sales VAT

25/02/03 01/03/03 OP/I001609 17.50 17.50 000000067807/03/03 07/03/03 OP/I001627 40.80 40.80 000000071014/03/03 14/03/03 OP/I001738 3.48 3.48 000000074421/03/03 21/03/03 OP/I001655 9.06 9.06 Not Available25/03/03 25/03/03 OP/I001708 185.47 185.47 0000000782Total 256.31 256.31

SUMMARY OF VAT CODE V1:Expected VAT : 1464.57 * 17.5% = 256.30VAT Posted : 256.31Difference : 0.01

End of report

VAT Sales Report - Sample Report

The selection criteria is displayed at the top of the report.

The selection criteria is displayed at the top of the report.

Transactions are sorted by effective date then transaction number

Transactions are sorted by effective date then transaction number

The report sorts by VAT code followed by G/L Posting code

The report sorts by VAT code followed by G/L Posting code




If a transaction does not exist in the VAT Register, a message “Not Available” is printed.

If a transaction does not exist in the VAT Register, a message “Not Available” is printed.



Revenue posting/s


1-01-10-01-001 Sales – Pumps


1-01-10-01-002 Sales – Tyres

14/03/03 14/03/03 OP/I001738 19.87 19.87 0000000744Total 19.87 19.87

VAT posting/s

9-99-60-04-003 Sales VAT



End of report

The total value of the transactions is printed as a sub-total after each posting code.

The total value of the transactions is printed as a sub-total after each posting code.





Revenue posting/s


1-01-10-01-001 Sales – Pumps


1-01-10-01-002 Sales – Tyres

14/03/03 14/03/03 OP/I001738 19.87 19.87 0000000744Total 19.87 19.87

VAT posting/s

9-99-60-04-003 Sales VAT



End of report


A summary is printed after each VAT code totalling the Revenue transactions and multiplying this by the rate of held against the VAT code. The value of the VAT transactions is compared and any differences shown

A summary is printed after each VAT code totalling the Revenue transactions and multiplying this by the rate of held against the VAT code. The value of the VAT transactions is compared and any differences shown

last updated: march 2004 1 of 55 da1233 - sales vat postings

Documents

revenue postings

vat postings system

revenue type accounts

assigned vat code

relevant vat code

nonrevenue accounts

revenue type control

posting codes