In the European Union (EU), VAT-registered businesses are obligated to supply their tax authorities with an EU sales list, which reports on the supply of goods and services to other VAT-registered customers in another EU country. The report is based on financial transactions related to finalized invoices and the VAT numbers in the report identify the EU customers.
Previously in Exact Globe Next, the VAT numbers were based on the debtors to whom the invoices were issued. As of product update 411, the system is able to recognize multiple VAT registration numbers. The VAT number of the debtor’s registered business at the destination country (where the ordered goods or services are delivered) will now be used for the EU sales list report, if applicable. To support the changes, the following enhancements have been introduced. Click the following hyperlinks to show or hide details in the respective sections:
The new VAT number field has been added to the Addresses screen. This is available only for addresses with the type defined as Delivery.
The validation performed for this field is the same as the VAT number field available under the Financial tab of the debtor maintenance screen.
Note: For the EU sales list reporting purposes, the (EU) country code must be filled in as part of the VAT numbers.
The new VAT number field has also been added to the Invoice data screen, displayed when you click Conditions in the invoice entry screen.
This field will automatically be filled with the VAT number based on the following sequence:
Take note of the following:
During invoice entry, when a change in the contact person of the Delivery to debtor result in a change in the VAT number, the following message will be prompted:
However, you can opt to always change the VAT number based on the contact person without prompting the message, or to never overwrite the VAT number even if the contact person has been changed. The preference can be selected via the new Overwrite: Invoice VAT number? field added to the Define columns screen. This screen is displayed when you click Columns in the invoice entry screen, as shown in the following:
Note:
Whenever a change has been made to the VAT number, it is possible that the new default might be a blank value. You are advised to check the VAT number in the Invoice data screen to ensure that the correct value is used. Make sure to include the country code when you type the VAT numbers for the EU sales list reporting purposes.
During invoice entry, you will be requested to furnish the VAT number if all of the following conditions are met in sequence:
Note that the header of this message has been modified from VAT number to Invoice debtor: VAT number. Once the VAT number has been filled in, the value will be updated to the invoice debtor maintenance and the invoice entry in the Invoice data screen. For the EU sales list reporting purposes, the country code must be filled in as part of the VAT numbers.
You can now group invoices by VAT number. The new VAT number check box has been added to the Group invoice screen, as displayed in the following:
For more information, see Grouping invoices.
You can now include the VAT number information in the invoice and credit note layouts via the new Sales invoice: VAT number database field. This database field has been added to the Header block, as displayed in the following:
To support the import and export of VAT numbers, a new XML tag has been added to the following topics:
Note: For the EU sales list reporting purposes, the VAT numbers must contain the EU country code.
In line with the changes, the EU sales list has been improved to cater for VAT numbers defined for processed invoice entries. The reporting system will now recognize and display transactions with VAT numbers retrieved from the invoice historical records in the Invoice data screen, when these following criteria are met:
In the event that the above criteria are not met, the VAT number used for reporting will be retrieved from the Financial tab in the debtor maintenance of the invoice debtor. If the first two digits of the VAT number are not a country code, the country code will be taken from the invoice debtor’s address in the Basics tab of the debtor maintenance.
In the EU sales list, the country code and VAT number are required for reporting the transactions.