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The VAT Configuration Package simplifies the process of posting EU reverse charge invoices and handling Postponed VAT for UK businesses. It includes settings for Standard VAT, EU Reverse Charge services, and Pre-configured VAT Groups for accurate calculations. A General Journal for testing the VAT statement is also provided. Download access requires subscription.… Continue reading →
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The VAT Configuration Package for Business Central can be downloaded as a Word Document containing a .rapidstart file. Users should test the setup in a Training Company with their data, import the package, review and tailor VAT settings, and confirm configuration before applying it to ensure it meets their requirements.… Continue reading →
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The post emphasizes the necessity of properly setting up new Dimensions in Business Central to ensure they are visible in journals and documents. It outlines the process of creating a Dimension and highlights the critical final step of designating it as a “Shortcut” dimension in the General Ledger Setup for easier access.… Continue reading →
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This video introduces a series on “Getting Started with Business Central” aimed at assisting new users. It outlines the phases of a Business Central project, offering insights and considerations. Acknowledging individual project variations, it provides a general overview. The video aims to prepare and guide users as they embark on their Business Central implementation journey.……
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The “Balance” field on the General Journal page represents the running total of the selected line, while the “Total Balance” shows the sum of all unbalanced lines. Understanding these fields aids in verifying entries and ensuring journal balance before posting. This post explains their calculation and importance in journal functionality.… Continue reading →
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When invoicing from a Sales Order in Business Central, it’s crucial to update the Document Date and Posting Date to avoid posting errors. The Document Date determines the Due Date and Invoice Date, while the Posting Date affects ledger entries. Defaulting dates can lead to incorrect entries and can be mitigated using setup options or…
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This post explains how to account for bank fees when receiving customer payments, specifically with credit card payments like American Express. It details a step-by-step process for recording the cash received, the bank fee, and ensuring the full invoice amount is applied. The method ensures accurate recording for bank reconciliation and fees.… Continue reading →
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In this post, we cover posting a single bank ledger entry for multiple customer payments, common with credit card companies like American Express. Using the “Cash Receipt Journal”, the cash is entered and applied to individual customers, then balanced to the bank account. This ensures accurate bank reconciliation in Business Central.… Continue reading →
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If your business leases a car, you can only reclaim 50% of the input VAT, unless it’s exclusively for business. Use “Non-Deductible VAT” feature in Business Central to manage this. Switch on the feature, create a new VAT product posting group, assign it to GL code, and configure VAT posting setup to reclaim the correct…
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The Business Central Admin Centre allows you to find out when an environment was created. Accessible through the “Settings” option or by adding “Admin” to the Business Central URL, it provides details on environment creation date, user, updates, and more. This feature was developed based on community input via the Microsoft Ideas site.… Continue reading…
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