Autoline will usually be installed with VAT codes resident in the VAT code file.
The consultant setting up the installation will for each company ensure that the following records are present in the VAT file:
|
Vat Code |
Vat Code Description |
Rate |
Type |
NL Account Code |
|
Input |
Output |
||||
|
S |
Standard Rate |
17.5 |
U |
|
|
|
H |
Higher Rate |
17.5 |
U |
|
|
|
E |
Exempt |
0.00 |
U |
|
|
|
X |
Export |
0.00 |
U |
|
|
|
Z |
Zero Rated |
0.00 |
U |
|
|
|
O |
Outside Scope of VAT |
0.00 |
U |
|
|
|
I |
Internal Use only |
0.00 |
I |
|
|
|
V |
VAT Adjustment (POS) |
0.00 |
M |
|
|
Other VAT codes can be set up as and when required by the Consultant/System Manager, and may have different codes, control accounts etc. Usually [if using standard chart of accounts], expense code 9642 will be used for outputs, and 9640 for inputs. Hence why the table is not populated in this example for these fields.
From the Autoline master menu select the Nominal Ledger option and the company you require.
Select the VAT options option.
Select the VAT codes option.
Click the Create button. The user can choose to create a completely new code or to use the radio button facility to copy an existing code. The code to be created is mandatory at this point.
The following fields must be entered within the General Details tab.
Short description: Enter a short description of the code to be set up, e.g. HIGHER.
Long description: A longer version of the short description field as discussed above.
VAT type: This will be either Internal,[for inter-departmental transfers] Mixed Vat,[for use with multiple VAT rates] or User,[code can be amended in options such as batch input] depending on the user's requirements.
Exclude in stats?: Some codes will not be required for legal VAT reporting purposes,[VAT Reconciliation, summary reports etc] hence there is the opportunity to exclude them [an example would be VAT codes that are zero percentage rated.] By ticking the check box, the user can exclude the code from the reports.
All of the above codes must exist for Autoline to function properly.
The Nominal Ledger option Verify Chart of accounts will check the validity of the Nominal Ledger Account codes entered for the VAT analysis. A separate account can be used for each VAT code set up, if required. Regardless of the level of analysis required on systems with more than one rate of VAT, all VAT code entries in the table must contain a valid VAT account code even if its rate is zero.
BUTTONS
Exit: The action is cancelled and the user is returned to the VAT menu.
Help: Displays Help in the default company browser.
Amend: Amends an existing VAT code.
Delete: Deletes an existing VAT code.
