The VAT Assumption Codes set-up form is accessed via Fleet System Management / Miscellaneous Options / Posting Controls / VAT Assumptions .
Defines a VAT assumption code and description that is then allocated against a particular rental split element to inform all concerned to what split of the rental it relates.
The form is split into three areas. These are the Titlebar , the VAT Assumptions Dialogue Box and the column of Command Buttons down the right-hand side of the form.
In addition to displaying the form name the Title Bar provides a number of useful buttons.
To create a new VAT Assumption select the Create Command Button.
To view or amend an existing VAT assumption use the following procedure:
The cursor is located in the Code field prompting selection of a VAT assumption code for the purposes of viewing/editing an existing record. A single-left-click of the ellipsis button to the right of this field displays an VAT Assumptions List Box that enables selection from the current codes on the system. If necessary, the scroll bar (to the right of the form where applicable) may be used to locate the required code. Following selection of the required VAT assumption by highlighting with the mouse, the OK command button is used to confirm this selection and return to the VAT Assumption form.
The VAT Assumption code is a single digit alphanumeric field e.g. F . This identifies whether a particular rental line on an invoice (or when viewing the rental lines within the contract) is either a finance element or maintenance element of the rental. Care should be exercise on selection of a code in order to avoid confusion. Therefore F for the finance rental, M for the maintenance rental and I for the insurance rental are valid as immediate indicators, whereas 1 , 2 and 3 could be confusing.
A 30 character alphanumeric free-format description field to full describe the VAT Assumption code.
The actual VAT rate code that the system uses to calculate the VAT value when raising invoices for any rental lines with this assumption code attached e.g. S (Standard Rate).
An example of what the VAT Assumption code produces can be seen within the Contract Review form. This assumes that the First rental element is the Finance portion of the rental and has a VAT assumption of F and the Second element is the Maintenance portion of the rental and has a VAT assumption of M .
Description Method From To Skip Period Value Total Value Rental - Initial F 0 0 1 308.85 308.85 Rental - Initial M 0 0 1 97.77 97.77 Rental - Periodic F 2 36 1 308.85 10809.75 Rental - Periodic M 2 36 1 97.77 3421.95 When producing an invoice to the customer each separate rental line is printed showing the VAT assumption code and description so that the customer understands for what they are being invoiced.
A number of command buttons are available. Some buttons are context sensitive and are greyed-out and only become available dependent upon the particular process that is being accessed. The full list of command buttons is as follows:
Exits the VAT assumption s form and returns to the Posting Controls Menu .
Provides online access to a context sensitive Help form.
Enables the creation of an additional VAT assumption . Mutually exclusive option buttons allow this to be done in one of the two following ways:
- Blank
Used if a new VAT assumption code is to be set-up without utilising existing criteria.
- Copy
Copies the values within an existing nearest match" VAT assumption code so that only required values need be edited.
Note:Users should not attempt to create a new VAT assumption record without consultation with KCC.
Only KCC are allowed to create a new record numbered below 100. Type in a number and press return. (Alpha codes are not allowed). If a number above 100 is typed in the system only allows a description to be entered against the new record. The system defaults-in several values.
Provides the facility for editing the set-up options of the current VAT assumption record. No edits can be made to a record until the Amend button has been selected.
Deletes the currently selected VAT assumption record.
Do not delete any VAT assumptions unless advised to do so by KCC. The file is quite small, therefore retaining an old VAT assumption on the system has little or no impact on disk space.
On first accessing the VAT assumption s form this command button is greyed-out. Following selection of the Amend button the Confirm option then becomes available to enable any edits to be confirmed.
On first accessing the VAT assumption s form this command button is greyed-out. Following selection of the Amend button the Cancel option then becomes available to enable any edits to be cancelled.
This is not a command button. This box is a way of displaying messages with regard to the status of the current record e.g. "Record Secured OK"
Selection of this button displays a further form that provides an Ad-hoc Report Generator for the creation of quick query reports to form..
Selection of this button displays a further form that provides an itemised display of all the selection criteria for the current VAT assumption record.