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Accounting for the VAT Rate Change in January 2011
Following the increase in the VAT rate from 17.5% to 20% from the 4th January 2011 we have provided instructions on how to amend this in HansaWorld
ABS has over 10 years experience as a reseller for HansaWorld. This CRM and ERP Accounting package has been sold to a wide variety of customers all with differing business requirements, such as POS, Hotel and Management Accounting.
Please use the link below for further information
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Accounting for the VAT Rate Change in January 2011
Following the increase in the VAT rate from 17.5% to 20% from the 4th January:
1. From 4th January, select Module>>Nominal Ledger>>Settings>>VAT Codes, and change all rates currently at 17.5% to 20%. (You will have to be the only user in the system.)
2. Create a temporary VAT code on the first empty line, (e.g. "T") and make the rate 17.5%, using the same output and input accounts as the "standard" VAT code. If you already have a temporary VAT code from previous years, you can use this again and replace the rate.
All transactions from 4th January onwards will automatically use the new rate of 20%, including invoices created from orders/quotations which had the 17.5% rate. Any transactions before the 4th January should be entered using the new temporary code - take care with records such as sales invoices and purchase invoices which are created after 4th January but dated before 4th January, as you will need to (manually) change the standard VAT code on each line to the new temporary VAT code.
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HansaWorld has recorded between 5% and 15% growth each year since 1995, and the software which is available on Windows, Mac and Linux platforms – is known for its exceptional functionality and breadth. 95% of implementations are completed on time and under budget, and upgrades are released every nine months.
Customers interviewed to support HansaWorld’s nomination said they most valued its flexibility, high level of integration and value for money. Matti Zadok of Experian Integration Marketing said the firm was “not aware of any other systems on which we could have achieved so much for anything like the money we have paid for HansaWorld.”
“Everything works in a truly integrated manner,” says Roger Cherowbrier of Topcon. 'We are very impressed with the different levels of analysis offered by HansaWorld. We can assess the turnover and profitability of everything we do.'
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About HansaWorld
HansaWorld is an international business software company, established in 1988 in Sweden and now active in around 90 countries. The company provides integrated Enterprise Resource Planning and Customer Relationship Management solutions together with a wide selection of industry-specific tools. The products work on all major platforms and allow convenient and fast mobile use over the internet via laptops, PDAs and Nokia business phones. The software is available in 27 languages and has been installed at more than 67,000 customer sites.
As there were so few financial solutions available on the Mac platform, we did consider installing PC systems to make our selection process easier, though such a change posed huge cost implications. However, Hansa presented us with the only viable alternative that complied with our preference to continue operating on a Mac network, at an extremely competitive price.
Caroline Airey,
Finance Manager at Impact