VAT periodic reporting

Requirement

For most companies in this country, the VAT declaration must be submitted monthly.

M3 solution

The information required to report VAT and VAT related information can be generated in M3 with the VAT report generator. The physical declaration is completed through Internet.

Configuration guidelines

Program ID Program name Description or comment
MNS100/G Company. Connect Division Set the tax method per division and specify the company tax and VAT number.
CRS750/F Settings – General Ledger

Specify this information:

VAT from date
Specify a date.
VAT chk online
Select this check box.
Accept VAT dev
Specify, for example, 0.01.
VAT date type
Specify 2-Invoice date.
VAT printout
Specify 3-VAT on inv & in AP.
CRS030 VAT Code. Open VAT codes can be connected to customers, suppliers, item numbers, and the chart of accounts.
CRS031 VAT Rate. Open Set VAT rates by date, country, and area or state.
CRS045 Country. Open Define country specific rules and controls.
CRS395 Accounting Rule. Set Used to create accounting strings for VAT accounting in M3 General Ledger.
CRS610 Customer. Open The customer VAT registration number is stored.

Set the Tax applicable field and specify the VAT code.
CRS620 Supplier. Open The supplier VAT registration number is stored.

Set the Tax applicable field and specify the VAT code.
CRS624/F Supplier. Define Purchase & Financial Set the Tax applicable field and specify the VAT code.
CRS630 Accounting Identity. Open Define accounts for VAT reporting.
MMS001/G Item. Open Set the VAT code purch and VAT code sales fields to the VAT codes for purchasing and selling.
MMS002/I Item. Connect Warehouse

To open (MMS002), select a record in (MMS001), then select Related > Item/Warehouse.

In (MMS002/I), set the VAT code purch and VAT code sales fields to the VAT codes for purchasing and selling.
OIS002/F Customer. Connect Addresses Optionally, in the VAT reg no field, specify the VAT registration number.
TXS001 VAT Reporting. Connect MI Transactions For the relevant base country code.
TXS004 VAT Report Template. Connect UDR Template Fields to be included in the electronic VAT reporting tables.
TXS005-

TXS009

 VAT Report Template. Open

Define the content required by country-specific VAT reports, that is, report columns and report lines.

See the details for sales and purchase VAT reports.
TXS020 VAT Exemption. Open Configuration as required.
TXS030 Fiscal Representation. Open Configuration as required.
TXS035 Tax Reporting. Open Report Fields Information required by authorities when reporting electronically.
TXS100 VAT Run. Open To create the periodic VAT reports for customer sales, for supplier sales, and for supplier purchases.
TXS118 VAT Run. Open User Defined Lines The lines created for electronic VAT reporting are displayed.

To open (TXS118), select a record in (TXS100), then select Related > Dsp User-Defined.

TXS120 Online VAT Adjustment. Open Users can validate, check, and adjust the VAT details stored in M3 General Ledger prior to final reporting.

To open (TXS120), select a record in (TXS100), then select Related > Wrk online adjustm.

Enterprise Collaborator configuration guidelines

Program ID Program name Description or comment
CRS116 Document Media. Open Create the settings for media category 06-MBM initiator.

Connection with ‘Output Service Type. Connect Media’ (MNS214).
MNS214 Output Service Type. Connect Media
MNS218 Output Server. Open Specify the correct server details.

Connection with Output Service.
MNS217 Output Service Type. Open Create a record for interface XMLOUT.

Connection with Output Service.
MNS216 Output Service. Open

Further configuration guidelines to report electronically

Program ID Program name Description or comment
TXS035 Tax Reporting. Open Report Fields Create transaction type 2 fields.
CRS945 Std Document. Connect Media Ctrl Object Create a record for the document number 514 – Electronic VAT reporting attached to the relevant base country and the VAT report template created in ‘VAT Report Template. Open’ (TXS005).
CRS949 Doc Media Ctrl Object. Connect Media

To open this program, from (CRS945), select Related > Media.

Create a connection to media MBMEVENT.