Difference between revisions of "How to deal with sales to EU countries and V.A.T. reporting"
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* Enter their {{DataPrompt|V.A.T. Reg}} number if they have supplied it. | * Enter their {{DataPrompt|V.A.T. Reg}} number if they have supplied it. | ||
| − | * Remove the code from the {{DataPrompt|Currency}} field unless you intend to use the currency conversion program, within Platinum. | + | * Remove the code from the {{DataPrompt|Currency}} field unless you intend to use the currency conversion program, within Platinum. |
{{Information|text=All transactions will be produced in your base currency e.g. GBP although can be converted to the customer currency on printed documents. See [[Dealing with currency accounting in Platinum?]] for more information.}} | {{Information|text=All transactions will be produced in your base currency e.g. GBP although can be converted to the customer currency on printed documents. See [[Dealing with currency accounting in Platinum?]] for more information.}} | ||
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* Check the customer {{DataPrompt|Default V.A.T. Rate}} is correct. This will be defaulted based on the country you choose to enter. | * Check the customer {{DataPrompt|Default V.A.T. Rate}} is correct. This will be defaulted based on the country you choose to enter. | ||
Revision as of 06:31, 12 February 2021
Summary
This article will explain how to deal with Sales to EU Countries.
 | From January 1st 2021 the way sales to EC customers are treated on the VAT return is changing. Please ensure your Platinum system is on the latest version. See Preparing for Brexit with Platinum for more information. |
More Information
If you are selling goods to EU Countries then your customers need to be set up in a specific way:
- Search for the customer and click [Edit].
- Select the [Invoicing] tab.
- Select their Country from the drop down menu.
- The "EC Member?" flag to the right will default based on the country chosen.
- Enter their "V.A.T. Reg" number if they have supplied it.
- Remove the code from the "Currency" field unless you intend to use the currency conversion program, within Platinum.
 | All transactions will be produced in your base currency e.g. GBP although can be converted to the customer currency on printed documents. See Dealing with currency accounting in Platinum? for more information. |
- Check the customer "Default V.A.T. Rate" is correct. This will be defaulted based on the country you choose to enter.
 | From January 1st 2021 you may need to amend the default VAT Rate set against your EC customers. Previously the VAT Rate would only change to Zero rated if you had the customer's VAT Registration number. See this article for advice. |
 | Changes to the way the VAT return deals with EC sales are due to be implemented in Platinum during April 2021. Please see this article for more information |
EC Sales Report
If you need to produce an EC sales report please follow these steps.
Go to " Systems/Accounts Reports & Settings Reports Accounts Report Generator".
- Enter 'EC' and press <Enter>.
- Select the 'EC Sales Report' and click [Start].
- Enter your date range and click [Start].
- Click [Print] or select to "View report as"'Table'.
- Press <Ctrl+P> and select [Excel] to output the results into an Excel file.
- Click [Close] or press <Esc> to exit the report.
| If you do not have this report please Contact your Platinum dealer or our support team on 0116 230 1500 or by using our website support contact page. |
See also
- How do I add a new country?
- How do I deal with purchases from EU countries and V.A.T. reporting?
- How do I set up currency translation?
- Dealing with currency accounting in Platinum?
- How do I reconcile foreign currency accounts?
- Preparing for Brexit with Platinum
