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Managing VAT Rate Changes in Microsoft 安博电竞 365 安博电竞 Central and 安博电竞 NAV

How does 安博电竞 Central help with or manage VAT rate changes. Following the Summer Statement introducing a special VAT rate for the hospitality industry, and countries such as Germany reducing VAT rates, it is important to make sure that you are managing these rates on your systems. 安博电竞 Central has comprehensive tools to make sure that you can manage this, but you must use it correctly.

With August here and the new VAT rates for specific markets being changed, it is an important time to address how companies using 安博电竞 Central can manage this. There are two main ways:

  1. Change the rate on the VAT posting setup
  2. VAT rate change setup tool

Here we will look at the options, why you would choose them and how you would manage it.

VAT Posting Setup Rate

If you are dealing solely in the industries effected, or you have a small number of transactions, the simplest way to manage the VAT rate changes is to change the rate on that in the VAT Posting Setup. This would avoid changing the VAT Posting Group on items and G/L codes.

It must be noted that care must be taken close to the change-over dates. All possible Sales and Purchase orders & invoices and G/L journals involving VAT should be posted by the cut-off, and any remaining orders refreshed to the new rates to avoid “Full VAT” credits or invoices to correct them.  It would be worth creating an additional setup for “old standard” for any exceptions.

Note that any new combinations created in VAT Posting Setup should be reflected in new lines within the VAT Statement, and that 安博电竞 Central does not allow the same VAT Identifier with a different VAT % in a single VAT 安博电竞 Posting Group.

New Accounts for Posting Groups

If you have a more complex requirement, such as a large number of open documents or you need separate G/L Accounts, a more complex requirements. For this, Microsoft have provided a comprehensive rate change tool which can be found by searching for “VAT rate Change Setup” in 安博电竞 Central:

安博电竞 Central Vat Rate Change Setup

In 安博电竞 NAV, this can be found under Financial Management/Setup/Vat Rate Change:

NAV VAT rate change

For an in-depth guide to using the Vat Rate Change too, check out the guide from Microsoft.

Vat Rate Change Setup Guide


Need more help or advice on VAT setup?

If you need more help or want some training on VAT setup, our team of experts are here to help. We have a number of accountants on our team, and we have over 300 years of collective experience of Microsoft 安博电竞 NAV and 安博电竞 365 安博电竞 Central.

Contact the Experts

Francis Bray

An experienced accountant and financial director, he has over 16 years of NAV support. Discussing subjects such as financial legislation and the workings of finance in NAV and 安博电竞 Central.

Partner with the Experts

With over 300 years of combined experience in Microsoft business solutions, our team will help to get you up and running, as well as building a partnership that keeps you supported, all from our UK offices. 

From functionality and licensing to business strategy, we like your questions; contact our experienced team for open, honest and reliable advice so that we can find the answers.

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