Exchequer - VAT Rate Change

With the VAT rate due to increase on 4th January 2011, Iris Exchequer has produced the a 4-page advisory document on how to prepare your Iris Exchequer system for the change-over.  

Download the detailed PDF document.

 

There is a full check-list within the document link above and we have summarised it here as an overview; these actions will need to take place at the end of trading (December 2010) prior to recommencement of business in January 2011.

Vat Rate Increase Checklist: - 

- Post all VAT transactions at the close of December 2010

- Print and store month end reports as reference

- Implement VAT rate changes in Iris Exchequer

- Implement VAT rate changes in any external systems (that link to Iris Exchequer)

- Update Auto transactions (if applicable)

- Check forms / reports for had coded VAT calculations

- Be sure all staff are aware of the changes made to Exchequer

- Contact your local HMRC office for specific VAT enquiries.

 

Please contact our Helpdesk if you require any assistance with applying these changes.

 

The Konnekt Support Team