Dynamics Community Forum Thread Details

vat tax setup

I am new to VAT tax and am confused on the proper setup for GP. I have setup tax details for positive an negative sales and purchases. I have also put them onto one tax schedule. I have setup the company Code GB

Do I have to setup Enhanced Intrastat as well?

I was also asked to setup 2 rates for trade with vat registered entities in other parte of EU, that these were normally ES and EZ (not sure what that means)

I am not sure where to start here. Can someone point me in the right direction please?

Thanks

Paula

Hi Paula,

You do not have to enable Enhanced Intrastat in order to complete the VAT setup. They are independent modules as such.

I'm a bit confused by the above - do you mean you set up some Sales type Tax details, and some Purchase type Tax details - and put them all on the one Tax Schedule?

No idea what ES and EZ mean eithre - its probably an internal terminology for the VAT codes for Sales and Purchases to and from EU traders?

I can point you in the right direction - but I would need to look at your set up. PM me and we can swap emails. I specialise in assisting EU users of GP.

At a minimum you will need Tax Details for both Input and Output VAT for the various rates in use in the UK (I presume you are UK as you mention GB). You will need input and output Tax Details for EU Trade and (best practice as far as I am concerned) also seperate ones for trading outside the EU(export rates / out of scope rates).

Other stuff you will need is to set up proper country codes for each customer (and again best practice for supplirs) - for the ESL (EU sales list). If you are selling into the EU from England you will need ESL at a minimum (if you sell services)...and possibly Intrastat if you are moving goods across borders.

Additionally you will need to set up VAT reports (Ignore the production of VAT returns) and work off the VAT Daybooks reports - but these reports will need to be set up. And you will be using the VAT Daybooks audit facility to track transactions submitted on your VAT return.

Its important to get the set up correct day 1. I presume you are livesince 1 January?

Ian.

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