On the 4 January 2011 the standard rate of VAT increases to 20%.
For Microsoft Dynamics NAV customers we will need to create a new VAT Product Posting Group and amend the VAT Posting Setup.
- We can run a routine that will update the VAT Posting Group to 20% on G/L Accounts / Items / Resources / Item Charges.
- The routine will go through and update every Sales & Purchase Line (quote/order/invoice/credit/return) and change the VAT17.5 to VAT20 where it existed, ONLY on sales and purchase order lines which have not been part transacted (shipped/receipted).
- We will provide a report to identify those lines that you need to go through and reduce the original qty down to match what has been transacted and insert a new line for the balance.
Joy’s on holiday currently but if you need us to do this for you you’ll need to contact her week commencing 15 November to arrange a suitable time and date (i.e. when shipping has completed).
Contact details – Joy.email@example.com or call 01902 578 300