Blogs & News
Did you know there’s a new VAT date on documents and journals in Business Central?
22 November 2022
In Microsoft Dynamics 365 Business Central, you can now control the date that is used as the tax point date on documents.
This is no longer fixed as being the posting date.
What does this mean for me?
The great news is that this new VAT date field now exists on Documents, the Sales Journal and the Purchase journal as shown below:
In General Ledger Set up you can now define what default VAT date should be used. This can be either the posting date or the document date.
You’ll be pleased to know, that on every document and journal, you can always override the default VAT date to the date you want.
This VAT date is the date that will be used when running the VAT Statement and VAT Return. However this is only available in the latest October update, BC Cloud version 21.xxxxx.
If you are not sure which version you are on, just make contact with the GCC Service Desk and they will be able to let you know.
NOTE: If you are going to use a different date than the posting date, this may have an impact when doing reconciliation checks between the VAT Statement totals their GL control accounts.
Microsoft Dynamics 365 Business Central
Connect, collaborate, and grow your business with the power of Microsoft Dynamics 365 Business Central.
Dynamics 365 Business Central is a cloud-based, all-in-one ERP business management solution from Microsoft.
Designed to integrate with the full Microsoft suite – such as Outlook, Excel, and Power Apps – Business Central can connect and automate your business from managing your accounts, stock, projects, manufacturing and sales.
Become a smarter, more agile, and better-informed business with Business Central – a solution which can evolve and grow as your business grows.
Business Central offers:
- Greater control and insight of your business
- Real time business reporting
- Cloud benefits – secure access from anywhere
- Full Microsoft 365 integration – increasing collaboration and efficiency across your business
- Customisations for specific industry needs with Power Apps, Power Automate and Power BI
Business Central is flexible to suit any business needs so simply choose which modules are needed for your business.
Speak to a member of the GCC team and find out more about Dynamics 365 Business Central.