Sage T codes and the VAT rate change

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DuaneJackson

DuaneJackson

Free Member
Jul 14, 2005
8,641
1,099
Brighton / London
  • #1
    My understanding is that T1 is "standard rate" for VAT in Sage.

    So when the standard rate changed from 17.5% to 15%, in theory standard rate sales should still get classed as T1 (they're still standard rate, it's just what that rate actually is that has changed)

    I'm guessing in practice it didn't work like this though?

    Was there a consensus (or guidance) on what T code the new new 15% sales should be posted to or did everyone just pick a code they liked the look of?
     
    J

    Jaydee

    Free Member
    May 27, 2007
    1,080
    283
  • #4
    I thought that changing the rate of T1 is very likely to cause problems.

    My advice to clients has been to set up another T code - but this is not only a preference for me in Sage, it is my preference for all packages that I have come across.
     
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    Jenni384

    Jenni384

    Free Member
    • Oct 1, 2007
    4,851
    1,539
    Cheshire
  • #5
    In QB I set up a new code from the off.

    In Sage, I have changed T1 to 15% - but have used another code for 17.5% on the ffchance I need it (which now isn't a lot).

    Some people were worried whether by changing T1 to a new rate it would affect transactions already posted - it doesn't.
     
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    S

    sheelagh

  • #11
    I changed T1 to 15% and set up a spare for 17.5%.
    I thought this would make for an easier life when posting older transactions.
    After a few weeks I started to experience the problems this caused with VAT cash accounting clients - you can't match PAs to PIs and SAs to SIs unless the T codes are the same. :eek:
    So now I'm frequently visiting Maitenance to change T codes.

    Grrr.
     
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    weebly_one

    weebly_one

    Free Member
    Feb 26, 2009
    442
    66
    Northamptonshire
  • #13
    derren said:
    T1 to 15%
    And set up T11 as 17.5% and don't forget to tick box on linking this to VAT return.
    I think this is right and it seems to work out.
    Click to expand...

    This is exactly what I did.

    The only problem I have had is when I need to reprint pre December invoices - I end up changing the code back to 17.5 to do the printout then putting it back to 15% - a real fag and easy to make a mistake.

    Also alot of my invoice designs had 17.5% hard coded in and needed changing. Needless to say I have made them more flexible now!
     
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