News and Announcements icon

Dynamics 365 CommunityForums Small and medium business | Business Central, N... VAT Setups UK

Small and medium business | Business Central, N...

Suggested answer

VAT Setups UK

(0) Share

Report

Report

Posted on by Community member

Hi, we are currently in the process of implimenting BC from Sage. Can anyone share how they have set up all the VAT tables and reports for VAT return MTD.

I seem to be going in circles with getting the correct setups.

thanks in advance.

Categories:

Dynamics 365 Business Central

All responses Img

All responses (1)

Answers Img

Answers (0)

Suggested answer

Shauna Langley 722 Super User 2024 Season 2 on at

Like (0)

Report

VAT Setups UK

Hi,

Here is a snippet of some setup within Cronus.

VAT Posting Setup - This is where you need to define all the combinations to make that the correct VAT calculation is applied when either purchasing or selling.

VAT Statement will need to be the same but split into boxes 1 to 9.

For example, row 001 is the sum of rows 020 and 030. These rows are made up of the following:

Row 002 is made up of 090 and 100 which are as below.

The difference from boxes 006 to 009 are as below.

For example box 008 is as below where you specify the base and not amount.

Once the vat statement has been setup you can then follow the steps in the link to setup your vat returns.

https://learn.microsoft.com/en-gb/dynamics365/business-central/localfunctionality/unitedkingdom/making-tax-digital-submit-vat-return

Hope that helps,

Shauna

Helpful resources

Quick Links

Leaderboard

#1

André Arnaud de Cal... 291,904 Super User 2024 Season 2

#2

Martin Dráb 230,605 Most Valuable Professional

#3

nmaenpaa 101,156

Leaderboard

Featured topics

Product updates

Dynamics 365 release plans