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I have a customer using Dynamics GP in the US who just added a company based in the UK. They will need VAT reporting for the UK. What is the best way to accomplish this?
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Hi,
Preferably, the customer needs to be on GP2010 SP2. In this release, Vat Daybook is available for US installs.
Hope this helps,
Nilesh Thakkar
Microsoft Dynamics GP Global Development Localization Release Manager
This posting is provided 'AS IS' with no warranties and confers no rights.
Hi Susan,
The other alternative (if you are not on GP2010 R2) is to install a UK client.
Or you can run with the US install - and use standard GP Tax Details / Schedules functionality to record UK VAT. You won't have access to the VAT Audit functionality, or be able to auto generate VAT returns / submit them electronically - but the basic underlying process for calculating VAT on transactions will be available. And you can use smartlists or standard tax detail reports to prepare your VAT returns.
Whichever road you you choose, you may also want to use a seperate dynamics.set file for the UK users. If the UK users are sharing an RDP server with the US you will want to pay attention to system date formats (the UK people will want European format).
Other functionality you may need is Intrastat tracking depending on how and what you trade in the UK. Standard EU transaction tracking is available with the US install - but enhanced Intrastat Tracking would only be available under the US install.
I have a number of US clients in a similar situation and some just work off the US install as the functionality available meets their needs, and others who have a seperate UK install. It all depends on what you need to achieve.
In terms of VAT also - the functional currency of your UK subsidiary will have an impact. A lot of US parent companies choose to use the Euro with their UK sub - especially if the UK sub trades externally, or they have other EU based subs. HMRC allows for this by publishing fixed exchange rates (GBP to EURO) - but how this is handled in GP requires some thought. You will also want to have seperate Sales Invoice layouts as you will be required to show the GBP value of sales transactions on the face of your UK invoices.
The ESL report may also be important if you are trading outside the UK and within the EU. There will be some set up required to be able to use the GP ESL functionality - setting up correct country codes, and collecting VAT registration numbers for all of your VAT registered customers.
There are some posts on my blog that may help: dynamicsgp.wordpress.com
If you need any more advice post here again, or PM me if you want to take it off line.
Best regards,
Ian.
Thank you so much for the wonderful information. That gives me a great starting point.
Any ideas about how to handle Payroll tax? Can we download tax updates as we do for the US companies?
GP Payroll is not supported outside USA and Canada. For all other regions, users use a local payroll package or outsource their payroll (which would probably be the norm for US Corporations with subsidiaries in Europe for example). Generally, they then post a GL journal to record the net payroll, taxes and a liability to match the credit that goes through their bank when salaries are paid. This GL journal can be set up as a quick journal in GP or integrated automatically. Note the that HR module will operate - just not the essential payroll processing parts.
Thanks!!
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