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Display the VAT Return Screen and click on the Print Button or use the keys Alt+P. The Print option cycles through all reports including EC reports.
Let us consider an Example:
Create the following groups:
| 1. | EC Customers under Sundry Debtors |
| 2. | EC Suppliers under Sundry Creditors |
| 3. | EC Customers for goods and services |
Note: Alter the Groups Sales Accounts and Purchase Accounts to change the setting for the Field Used for Calculation to Yes..
Create the following Ledger accounts (alter if they already exist).
Under the Group Sales Accounts
EC Sales – Goods
| • | Set the option Inventory Values are affected? to Yes |
| • | Enter the required percentage in the Percentage of Calculation field. Here it is 17.5%. |
| • | Select On Total Sales from the Type of Duty list under the Method of Calculation field. |
EC Sales – Services
| • | Set the option Inventory Values are affected? to Yes |
| • | Enter the required percentage in the Percentage of Calculation field. Here it is 0%. |
UK Sales
| • | Set the option Inventory Values are affected? to Yes |
| • | Enter the required percentage in the Percentage of Calculation field. Here it is 17.5% |
| • | Select On Total Sales from the Type of Duty list under the Method of Calculation field. |
Export Sales
| • | Set the option Inventory Values are affected? to Yes |
| • | Enter the required percentage in the Percentage of Calculation field. Here it is 0%. |
Under the Group Purchase accounts
EC Purchases
| • | Set the option Inventory Values are affected? to Yes |
| • | Enter the required percentage in the Percentage of Calculation field. Here it is 17.5%. |
| • | Select On Total Sales from the Type of Duty list under the Method of Calculation field. |
VAT Accounts under the group Duties and Taxes
| • | Enter the required percentage in the percentage of calculation. Here it is 17.5% |
| • | Select Based on Item Rate from the Type of Duty list under the Method of calculation field. |
| • | Enter the required percentage in the percentage of calculation. Here it is 0% |
| • | Select Based on Item Rate from the Type of Duty list under the Method of calculation field. |
| • | Select VAT from the Types of Duty/Tax list under the field Type of Duty/Tax. |
| • | Select the required VAT/Tax Class under the field VAT/Tax Class. |
| • | Enter the required percentage in the percentage of calculation. |
| • | Select Based on Item Rate from the Type of Duty list under the Method of calculation field. |
Classes (to automate invoice entry)
Alter the Sales Voucher Type and create the following classes. Refer Voucher Classes for more details.
VAT Sales
| • | In the Voucher Type Alteration screen, give a suitable name under the field Name of Class. Then the Voucher Type Class screen is displayed. |
| • | Select UK Sales as the Ledger Name from the List of Ledger Accounts under the Default Accounting Allocations for each Item in Invoice. |
| • | Type 100% under the Percentage field. |
| • | Select Output VAT @ 17.5% as the Ledger Name and Value Basis as 17.5% under the Additional Accounting Entries |
EC Sales (Goods)
| • | Select EC Sales (Goods) as the Ledger Name from the List of Ledger Accounts under the Default Accounting Allocations for each Item in Invoice |
| • | Select Output VAT @ 0% as the Ledger Name under the Additional Accounting Entries |
EC Sales (Services)
| • | Select EC Sales (Services) as the Ledger Name from the List of Ledger Accounts under the Default Accounting Allocations for each Item in Invoice |
| • | Select VAT Exempt as the Ledger Name under the Additional Accounting Entries |
Export
| • | Select Export Sales as the Ledger Name from the List of Ledger Accounts under the Default Accounting Allocations for each Item in Invoice. |
| • | Select VAT Exempt as the Ledger Name under the Additional Accounting Entries. |
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