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Dynamics 365 Business Central – How to post a VAT only journal for VAT adjustments
Introduction There may be times when you need to post a full VAT only journal to record a VAT adjustment. In these scenarios you want no effect in the General Ledger, but wish to have an adjusting VAT entry appear on the VAT statement. In this post, I’ll walk through the necessary steps for setting… Read more
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Dynamics 365 Business Central – How to remove the message “Your VAT return is overdue…” when the VAT return has been Submitted and Accepted
Introduction The UK version of Business Central gives the ability to submit your VAT return via the Making Tax Digital functionality. This enables you to connect to HMRC and download your VAT obligations and subsequently submit your VAT return. However I’ve found that sometimes even though the VAT return has been submitted to HMRC and… Read more
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Dynamics 365 Business Central – How to quickly find the VAT entries closed by a VAT Statement using the G/L Register page
Introduction In this post I’ll walkthrough a method I use to quickly find all VAT entries that have been closed on a previous VAT statement using the G/L Registers page. You can then export the entries to Excel and recalculate the submitted VAT return by summing each VAT Business and VAT Product posting group combination.… Read more
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Dynamics 365 Business Central – How long does the Free Trial of Business Central last?
Introduction I always assumed the free trial of Business Central lasted 30 days, with a potential extension to 60 days (90 days if a partner relationship has been made), however if you dig into the details of the trial FAQ you’ll see this isn’t the case. In this post I’ll go through the Microsoft FAQ… Read more
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Dynamics 365 Business Central – How I post opening balances for reducing balance Fixed Assets
Introduction When posting opening balances for reducing balance assets things can sometimes prove a little challenging. In this post, I’ll walk through how I post opening balances for reducing balance assets, and the best practices I follow. In this example I’m posting opening balances for a reducing balance asset as at 31/08/23 in the financial… Read more
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Dynamics 365 Business Central – How to setup and configure Postponed VAT in the UK
Introduction When you import goods into the UK, you have to pay VAT if the goods are over a certain amount. You can either pay this immediately, and then reclaim it later on your VAT return, or declare and recover on the same VAT return, using the postponed VAT method. This post goes through how… Read more
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