527 - 28th February 1992 ************************ PURCHASE LEDGER V7.0 AND EEC VAT REQUIREMENTS *********************************************************** New VAT regulations were introduced on 1st January 1992 for companies dealing with foreign customers both inside and outside the EEC. Purchase Ledger V7.0 has been modified to enable users to gather the necessary information. The modifications are to be issued as a series of repackaged zaps in the next autozaps run (7012). Details of changes are: VAT maintenance (Zap PL-7.0-09) +++++++++++++++++++++++++++++++ VAT maintenance allows the new EC VAT code to be set up. Validation of the import and exempt codes has been amended as follows: The daybook must be empty before allowing the import codes or the exempt code to be amended. A warning is given if the amended code had transactions analysed to it for either of the open periods. Supplier Maintenance (Zap PL-7.0-09) ++++++++++++++++++++++++++++++++++++ Supplier maintenance allows the new import account type to be set for foreign accounts - EC/Non-EC account. Transaction Entry/Amend (Zap PL-7.0-08) +++++++++++++++++++++++++++++++++++++++ Transaction entry now sets up the VAT code on the daybook transactions for foreign accounts. Invoices, credit notes and expense journals are now analysed to either the EC or non-EC VAT code, depending on the supplier import account type. Daybook print/summary (Zap PL-7.0-08) +++++++++++++++++++++++++++++++++++++ The VAT code is now printed against foreign invoices, credit notes and expense journals and is used to accumulate the VAT analysis printed in the summary. The daybook summary now prints "NON-EC" against the analysis for foreign accounts outside the EC and "EC-IMP" for those inside the EC. Autopostings - PL103 (Zap PL-7.0-08, Zap AU-7.0-01) +++++++++++++++++++++++++++++++++++++++++++++++++++ There is no need to amend the creation of the autoposting file. The VAT code on the transaction record must still be zero for foreign accounts, otherwise the transaction will be rejected, as at present. The foreign transaction will automatically be analysed to the EC or non-EC code, depending on the supplier import account type. The VAT code on the daybook transaction is now set up for foreign transaction, as for transaction entry. The same changes have also been made to AU103. Recovery procedure if currently running PL V7.0 +++++++++++++++++++++++++++++++++++++++++++++++ The initialisation now carried out by Upgrade needs to be carried out on sites currently using PL V7.0. If running a multi-currency ledger the new import code must be non-zero, the import account type must be set up on all foreign accounts and any foreign transactions on the daybook must have the VAT code set up, otherwise the "VAT ANALYSIS DISAGREES.." message will be displayed on printing the daybook. PLEEC has been written to carry out the above initialisation for sites running V7.0 now. If changing from a single currency to a multi-currency ledger, the import codes must be set up in VAT maintenance before posting foreign transactions.