Changing the VAT rate on the 1st January 2010

[SWS Developer]

To change the VAT rate for the 1st of January 2010 in GA2 you will need to perform the following steps.

1. Login with administrative privelages
2. Goto the Admin Area
3. Click on Setup Wizard
4. Click on Step 7, Vat and Year End
5. Change the VAT rate to 17.5
6. Click on close setup wizard


How will this affect existing documents ?

1. Any new documents you create will automatically carry the new VAT rate from this point.

2. Any existing documents, created before the change, will remain with the old VAT rate of 15%

3. If an existing invoice created before the change exists on your system, which has NOT been printed or issued, then GA2 will initially leave the VAT rate at the old rate of 15%

However when you click on issue invoice, GA2 will check to see if the VAT rate has changed. If it has, then GA2 will give you the opportunity to update to the new VAT rate, before presenting you with the payment screen, or printing.

At this point, the VAT will recalculate using the new rate and reflect on the document.

[SWS Developer]

This post is just to move this to the top for viewing, since it will become a common question whilst we are closed