Over the last two or three years the VAT rate in the UK has changed three times; temporarily down to 15% from 17.5% and then back up a year later before a permanent rise in January 2011. On each occasion we issued advice to customers on how to handle these changes within Microsoft Dynamics GP; there were two ways for them to make the change; either create a new Tax Detail or amend the existing one. Personally I recommended the former as it is somewhat cleaner; you can tell at a glance what the VAT rate will be without the need to check the date the invocie was registered. If the latter option was taken users needed to remember which rate is effective on what date during the cross over period which means lots of scope for errors. Continue reading “Feature Explained: Date Effective Tax Rates”
