Microsoft Dynamics 365 Business Central

Dynamics 365 Business Central SaaS Localisation Starter Pack for the Republic of Ireland
Reverse Charge VAT

In Business Central, you can use reverse charge VAT accounting for a specific range of items to prevent Missing Trader Intercommunity Fund Fraud (MTIC), also known as carousel fraud. This feature is supplemented by the Reverse Charge Sales List report. The VAT accounting changes will affect companies trading in electronic goods and integrated circuit devices, such as mobile telephones, microprocessors, and central processing units. These goods will apply to reverse charges.

Posting Set-up

  1. Choose the  icon, enter VAT Business Posting Groups.

  1. Select the VAT Business Posting Group task

  1. Create a new VAT business posting group and set up the needed VAT product posting groups, alternatively use the EU posting group and sample product posting groups.
 
General Ledger Setup
  1. Choose the  icon, enter General Ledger Setup, and then choose the related link.

  1. On the Reverse Charge FastTab, fill in the fields as necessary. Hover over a field to read a short description.

Sales & Receivables Setup
  1. Choose the  icon, enter Sales & Receivables Setup, and then choose the related link.

  1. On the Reverse Charge FastTab, fill in the fields as necessary.

Purchase & Payables Setup
  1. Choose the  icon, enter Purchases & Payables Setup and then choose the related link.

  1. On the Reverse Charge FastTab, fill in the fields as necessary.

Item Setup
  1. Choose the  icon, enter Item and then choose the related link.

  1. Select the item, and open the Item Card

  1. On the Prices & Charges FastTab, select Reverse Charge

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