VAT Form 100 - Process on Period Dates

The VAT Form 100 can be configured to work on monthly or quarterly periods and processes based on the calendar – i.e. if monthly processes transactions from 01/01/2008 to 31/01/2008, if quarterly processes transactions from 01/01/2008 to 31/03/2008.

However, agreements with the HMRC allow you to operate on your accounting period dates and, if these don’t use the usual monthly calendar then this would require postponing the posting of receipts / payments dated after the ‘period end’ until after the VAT Form 100 is produced. This new feature allows for the VAT Form 100 to process transactions using the Datafile accounting calendar period dates.

Installation

VAT Table

Within the Installation Utilities lock out the system and then select the VAT Tables option.The new option to operate the VAT Form 100 on period dates is included here.

Maintain & Print VAT Form Values – primary parameter to enable the use of the VAT Form 100. Note this option is not applicable if using Cash Accounting.

Monthly – set to operate on a monthly basis, if left blank then operates on a three-monthly basis.

Period Basis – set to operate on a period basis. If monthly left blank then operates on a three-period basis, if set then operates on a one-period basis.

Database Changes

When the VAT Form is processed and updated (i.e. closed for period) then the system records the period number it was processed against on the nominal transaction by updating the Vat Period field as MMYY. When operating on a period basis you need to change the VAT Period data item on the NLT to a Y (6) field from the existing Y (4) field.

Controls & Audit Manager / Edit System Status Display

Within the Edit System Status Display the system holds the VAT Period last processed. When first enable processing on a period basis you need to update this setting to confirm the period end date up to which the last VAT Form was processed.