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New VAT codes for eu goods and services

The VAT treatment for imports from the EU is different for goods and for services. The differentiation between goods and services is at the nominal code level and therefore 2 nominal codes need to be created for each affected nominal code so that the transactions are posted correctly to the VAT return. This makes the reports very unwieldy and increases the risk of misanalysis.

Can the differentiation be made at the VAT code level with the creation of for example an EU1 and EU2 codes which would identify goods and services at that point in the way that Sage allows different T codes. The Kashflow codes are not necessarily numeric as they allow NA.

  • John Smith
  • Jul 17 2019
  • Acknowledged
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