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 registration number.
CRS750/F Settings – General Ledger

Specify this information:

VAT from date
VAT chk online
Select this check box.
Acceptable VAT deviation
Specify, for example, 0.01.
VAT date type
Specify 2-Invoice date.
VAT printout
Specify 3-VAT on inv & in AP.

CRS030

CRS031

VAT Code. Open

VAT Rate. Open
CRS395 Accounting Rule. Set Configure all VAT setups.
CRS630 Accounting Identity. Open
CRS610/J Customer. Open 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.
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.
TXS005-TXS009 VAT Report Template. Open Define the content that is required for the VAT report.
TXS020 VAT Exception. Open
TXS030 Fiscal Representation. Open Complete the fields if relevant.
TXS100 VAT Run. Open

Configuration guidelines for Enterprise Collaborator

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.