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Hi,
I am looking for information on how to post different types of UK zero rated vat transactions in Dynamics Nav.
The UK has different types of transactions that have zero vat; some transactions are outside the scope of vat (transactions where there is no vat and the transactions are excluded from and not required to be reported on the vat report); however some transactions are zero rated - (transactions where the vat is zero but the base purchase amount needs to be reported on the vat report for UK vat reporting purposes). The Dynamics set up I am using at the moment does not include anything that has zero vat on the vat report. How do I set up two different types of zero rated vat transaction in Dynamics...
trans type 1. outside scope of vat - no vat or base amount included on vat report - nothing at all for this transaction type reported to vat report
trans type 2. zero vat - vat amount is 0% but the base amount is included on the vat report (effectively the gross amount of the invoice vat = 0%)
Thanks
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In order to get 0% VAT amount, you need to repeat the same setup for the regular VAT, but put the VAT% as zero in the settings. In order to get a transaction without VAT as such you need to make a different setup the way that system would not calculate that, e.g. do not make settings of the VAT accounts in the system (there might be more settings, depending on the localization - check VAT Posting Setup (472) page). Usually those both cases are processed in the CRONUS database for certain localization - have you checked that for UK? I'm currently do not have an option to look at that quickly.
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