Hi,
Please can someone tell me what is the purpose of the following functions:
Many thanks
Hi Josh,
Just thought of another question - at what point are the individual transactions flagged as having been reported through a VAT return? In most software it is the act of submission or marking the return as submitted that then flags the transactions. Is this the same in BC, or does this not happen unless the 'Calculate and Post VAT settlement' is run?
If so, is there any record in BC of the transactions that were submitted to HMRC if the 'Calculate and Post VAT settlement' isn't run?
Thanks again,
Nicola
1. To close VAT entries in the company sub ledger and move the balance payable/receivable with HMRC.
2. Confirms that the submission has been received by HMRC. It’s not fundamental to complete and is more of a BC housekeeping task
Hi, Hope the following information can help you.
Calculate and post VAT Settlement
https://www.youtube.com/watch?v=kwuUxFpHLbk
https://docs.microsoft.com/en-us/learn/modules/settlements-dynamics-365-business-central/
https://www.youtube.com/watch?v=vfwUQLVQuyg
Receive submitted VAT returns
Thanks.
ZHU
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