My company has just become VAT registered as of 1 April 2011 and I've been using Solar Accounts for the past 1.5 yrs. By adding the VAT at this point in time will it have any effect on invoice and purchases made to date or does the system recognise that VAT starts from 1 April 2011?
Hi Julian,
No, when you tick the 'Registered for VAT' box in the setup screen it will not affect any existing transactions, only new ones. You will need to open each transaction dated after 1 April 2011 and change the VAT Treatment field to 'Sale of Goods to UK Customer' or 'Purchase of Goods from UK Supplier'.
Regards,
