This section provides a brief outline of the VAT Module and VAT Workbench.
VAT Module Background
The Coins ERP+ VAT Module and workbench manage the VAT set up for a business. The VAT configuration impacts multiple modules in Coins ERP+ covering purchasing, sales and expenses.
The VAT module manages:
VAT Codes.
VAT parameters.
Specific UK VAT parameters.
VAT reverse charge and substitution table.
A range of VAT Administration tools to manage and change VAT Codes.
Administration tool to manage status.
Consolidation functionality available in v11.09 or later.
VAT Return Workbench
The VAT Workbench is where VAT returns are managed, reviewed, processed and submitted.
Some of the benefits include:
Ensure all VAT is processed in Coins ERP+.
Full and complete audit trail.
Reduction in hours required for VAT return.
Consolidation functionality.
Compliant with MTD Transmission to HMRC.
Electronic Transmission Reports.
Greater control process with review/lock status.
Use of Status colours Green/Amber/Red.
VAT Return Posted or Unposted to GL.
Enhanced reporting.
Drill down functionality.
Enhanced review process for unreturned transactions.
Reconciliation report between GL and VAT transactions (at consolidated and individual company level).
Ability to export and import VAT returns.
Append late transactions.
Allow multiple adjustments.