This on-demand webinar will take focus on “An Introduction to VAT Management for Microsoft Dynamics GP”, showcased by our m-hance specialists Sunita Chandnani and Matt Peace. This online demonstration will cover elements of VAT setup, Process Purchasing, and General Ledger Transactions and VAT Report that shows the Partial VAT Amounts.
The purpose of this product is:
m-hance VAT Management is a fully flexible and configurable module that assists with the calculation of Partial VAT. Users can state recoverable percentages in the module configuration for an unlimited number of Partial VAT codes.
In situations where users may not know the recoverable rate on purchase invoices, the m-hance VAT Management module will allow users to post to a generic variable partial VAT code which can be reviewed daily, weekly, monthly or quarterly. Amounts posted to such a VAT account can subsequently be re-distributed to the correct Partial VAT code by running a routine.
The benefits that you will receive from having the product are:
- Results in an organisation being compliant in terms of its Partial VAT commitments.
- Supports an organisation in reducing its VAT liability to levels agreed with HMRC.
- Avoids the need for monthly or quarterly manual reconciliations.
- It is fully transparent to transaction-level via drill-down functionality.
- Through the reallocation of Variable VAT rates, it allows transactions to be processed quickly and efficiently.
- Updates VAT Returns.
- Features a Full transaction audit trail.
- Facilitates accurate VAT reporting.