The following changes can only be done after the last transaction has been processed on 31 March 2018, but before the first transaction on 1 April 2018
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- For each customer account, go to the Processing tab and, in the Tax section, change the default tax code from 01 to 11. If there is no default tax type set up, you can ignore this step.
- For each supplier account, go to the Processing tab and, in the Tax section, change the default tax code from 01 to 11. If there is no default tax type set up, you can ignore this step.
- Go to Setup…Customers…Control and, in the Configuration tab, change the Default Tax Type for Financial Lines from 01 to 11.
- Go to Setup…Suppliers…Control and, in the Configuration tab, change the Default Tax Type for Financial Lines from 01 to 11.
- For each inventory item, go to the Details tab and, under the Allow Tax section, change the VAT code from 01 to 11 for both Purchases and Sales.
- Go to Setup…Inventory and, under the Integration/Groups tab, change the Default Buy Tax and the Default Sell Tax from 01 to 11.
- If you have too many customer/supplier/inventory codes to make the above adjustments manually, speak to the experts below.
- If you have any outstanding Sales Orders or Purchase Orders on 1 April 2018 with a VAT code of 01 on the line items, please note that the VAT code will need to be manually adjusted to 11 for each line item once the Order has been converted to a Tax Invoice / GRN / Supplier Invoice.
- If you are using VAT inclusive selling prices, please note that your VAT exclusive selling price will be reduced on 1 April unless you increase the VAT inclusive price to accommodate the VAT rate increase.
- If you have Recurring Invoice batches, you will need to change the VAT code, for each line item on each invoice, from 01 to 11, before your April 2018 invoices are created.
- If you have invoices on hold carried over from March 2018, you will need to change the VAT code, for each line item on each invoice, from 01 to 11, before the invoices are finalised.