How do I edit VAT rates?
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Summary
There may be instances were you may need to alter you rates of VAT. This article outlines how to do this in your platinum system.
Details
Go to "Systems" -> "Reports & Parameters" -> "Maintenance Options" -> "System Administrator" -> "V.A.T. Parameters".
 | PLEASE NOTE : If you do not have a "Systems" option go directly to the "Reports & Parameters" option or refer to a person with higher access rights |
There are 4 rates of V.A.T. These, as a rule, only change with government legislation, but if an announcement is made then the following can be amended:
- V.A.T. Returns Frequency : (Quarterly/Monthly/Bi-monthly
- V.A.T. Rates 1 - 4 and their associated descriptions
Through there are fields for the V.A.T. 100 start date and Last Period completed these dates are not usually changed unless instructed to do so.
Other Considerations
If you have a report generator report that calculates the V.A.T. manually, this report will need to be amended to reflect the new rate. The above WILL not update the report. Please call our software support for further help.
