We have a client that is going to upgrade from GP7.5 to GP2010 this year. Back in '04 when they implemented GP, some customization was required to meet statutory reporting requirements in the EU. Have VAT enhancements been sufficient to now meet those requirements?
Frank E. Hamelly, MCP, MCITP, MCT, MVP
GP is fully VAT compliant in that it calculates and records VAT correctly. We have many customers throughout Europe using GP without issue. The Standard Tax module (Tax details and Schedules) is flexible enough to handle EU VAT.
The GP VAT Module itself has most of the EU Countries VAT reports as canned reports...but most customers don't use these, preferring to develop their own reports in SRS etc - bascially because their requirements are a bit different.
GP also has an Intrastat module and produces the new ESL report. There are other European features specific to Germany, France, the Netherlands etc. And Reverse Charge VAT as used in the UK.
The VAT 2010 package from the EU made changes to VAT legislation on intra EU transactions, and these can be handled easily enough using the Tax Detail / Schedule set up. There is probably more work to do for Microsoft on this front, but to be fair to them, the exact requirements are not known yet as many EU countries still have to declare their reporting requirements based on the VAT 2010 rules.
You should have no problem accounting for and reporting on VAT and meeting theEU reporting regulations.
Ian Stewart MVP - International support for Dynamics GP. Local knowledge, local timelines, local GP talent. Genesys Financial Systems (Europe) Microsoft Gold Certified Partner http://dynamicsgp.wordpress.com/
Thanks so much Ian! I knew you'd come through :)
Ian I have been trying for weeks to get asisstance implementing VAT Daybook for our UK subsidiary. We keep getting referred to our p[artner, and if they could help i would have never had to ask Microsoft to get involved. I need documentation oin what is necessary to setup VAT Tax for the UK, and setup VAT Daybook to handle UK VAT returns. All I see in the user manuals for VAT Daybook is related to Canada. I keep hearing how well GP meets these needs, but nobody seems to know what to do. What do you suggest? I have been implementing GP for 16 years, was a partner for 8, and am now with an end user. Please help.
Ian basicaslly the issue for me is access. I know there are professionals such as yourself at MBS that know how to do this for the UK. The problem is getting access to them, or to documentation as to what needs to happen. That is really what I am after. Any suggestions would be great. Thanks again.
Hi Dan - I just sent you a friend request from this forum. My email address is in it. Drop me an email and we can see about getting you set up.
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