Temporary VAT rate change
The standard rate of Irish VAT will be temporarily reduced from 23% to 21% for a six-month period from 1 September 2020 to 28 February 2021
The following steps need to be taken at the end of your last trading day in August 2020. The dayend routine will need to have been completed prior to proceeding with these steps.
For "Live on line" and APOL sites, this routine can be ran once centrally. For communicating sites, this routine will need to be run at each branch location.
Step 1 - Run consolidated invoices
if you run Consolidated invoices you MUST finalise these prior to the VAT rate change.
Step 2 - Change VAT codes
To access the VAT rates, select Database - General Codes File Maintenance from the main menu.
- Amend Code 1 to 21%
- Change any other 23% codes to 21%
- Please remember to also amend the EEC Tax Rate on the relevant VAT Codes from 23 to 21 before taking the VAT read off the VAT return report for periods relating to the temp VAT rate change
- create new VAT codes to be used for the old 23.00% VAT standard rate e.g. Code 7 -Description Old 23.00% 2020, rate 23.00, Code 8 - Description -23.00% Old 23% 2020 non-Resale-Rate 23.00. Please note these are sample codes only. It does not matter what the new V.A.T codes are as long as the rates and descriptions are correct.
- Once you have made the changes, click Update/2 to save changes
Step 3 - Quit and reload
Quit and reload Merchant and Ledgers (File->Quit from main menus) on all machines including server.
Note - do not use the X to close the program
Please note that if you do not close and restart THE MERCHANT AND LEDGER PROGRAMS on all machines then you run the risk of issuing dockets at the incorrect vat rate.
We advise all customers to get your purchase ledger up to date as much as possible before the vat rate changeover.
Please remember that after the vat rate has changed if you are entering transactions into your purchase ledger relating prior to 1st September 2020 that you must change the vat code from the default to the appropriate vat code relating to old rate.
Prior to invoicing Suspended Dockets, Job Cards, Picknotes or Quotations you must recall each transaction and either re-suspend, re-job, or resave the transaction so that it applies the new VAT rate to the transaction. You can now continue to trade as normal
IF YOU ARE USING BACKORDERS PLEASE CONTACT US ON 01 6260155 OR EMAIL SUPPORT@RNH.IE BEFORE 1P.M. ON THURSDAY 27th OF AUGUST TO GUARANTEE ASSISTANCE!
TO GUARANTEE SOFTWARE SUPPORT PLEASE ENSURE YOU’RE YOUR ACCOUNT BALANCE IS UP TO DATE.
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