1. Last Updated: March 2004 1 of 55 DA1233 - Sales VAT Postings

2. Last Updated: March 2004 2 of 55 DA1233 - Sales VAT Postings Sales VAT Postings Overview Sales VAT Postings: This feature implements changes that ensure all VAT postings can be reconciled easily against the revenue postings within the GL All revenue is posting against Revenue Type accounts within the GL All revenue accounts have an assigned VAT Code All reports show clear reconciliation and traceability between revenue and VAT postings System Audit and Traceability: Extended and Consistent Audit & Reporting Access to Historical Archived Information Pre-defined Audit Set Up Data Integrity: Secure use of options that modify data Disable particular types of data modification Sales VAT Postings: This feature implements changes that ensure all VAT postings can be reconciled easily against the revenue postings within the GL All revenue is posting against Revenue Type accounts within the GL All revenue accounts have an assigned VAT Code All reports show clear reconciliation and traceability between revenue and VAT postings System Audit and Traceability: Extended and Consistent Audit & Reporting Access to Historical Archived Information Pre-defined Audit Set Up Data Integrity: Secure use of options that modify data Disable particular types of data modification

3. Last Updated: March 2004 3 of 55 DA1233 - Sales VAT Postings Sales VAT Postings - Areas of Change The following areas of the system have been amended for this project:: General Configuration General Ledger Accounts Receivable/Accounts Payable Cash Management Sales Order Entry & Invoicing EDI Input Telesales Returns and Repairs Contract Management Project Accounting Project Billing Sales VAT Reporting The following areas of the system have been amended for this project:: General Configuration General Ledger Accounts Receivable/Accounts Payable Cash Management Sales Order Entry & Invoicing EDI Input Telesales Returns and Repairs Contract Management Project Accounting Project Billing Sales VAT Reporting

4. Last Updated: March 2004 4 of 55 DA1233 - Sales VAT Postings General Configuration

5. Last Updated: March 2004 5 of 55 DA1233 - Sales VAT Postings General Configuration - VAT Codes This option has been modified so that the Ledger field is now validated. With this project licensed, this field CANNOT be blank, I.e it must always contain a ledger code of either R or P. Note: You will now have to define the relevant G/L posting codes as revenue type accounts and add the relevant VAT code. See Slide 8.

6. Last Updated: March 2004 6 of 55 DA1233 - Sales VAT Postings General Configuration - Control Accounts This option has also been modified to ensure that the revenue type control accounts have the correct validation. The Interest Charge account has been validated to only allow revenue type posting codes to be entered/browsed upon. All other posting codes on this form are now validated to only allow non-revenue accounts.

7. Last Updated: March 2004 7 of 55 DA1233 - Sales VAT Postings General Ledger

8. Last Updated: March 2004 8 of 55 DA1233 - Sales VAT Postings General Ledger - Posting Codes This option has been modified to define the G/L posting code as a revenue account and enter the VAT code Tick this check box if this posting code is a revenue account If the Revenue tick box is checked, type in or browse and select the associated VAT code

9. Last Updated: March 2004 9 of 55 DA1233 - Sales VAT Postings General Ledger - Posting Codes This option has also been modified to allows you to define the Revenue and Deferred Revenue contra for G/L posting codes used for revenue with Contract Management Type in or browse and select the required posting codes for Contract Management actual revenue and deferred revenue contra. These posting codes must be non-revenue accounts.

10. Last Updated: March 2004 10 of 55 DA1233 - Sales VAT Postings General Ledger - Journal Entry This option has been modified to validate the VAT code against the posting code on each detail line, if it is a revenue account. For revenue type posting codes entered, the program automatically adds the associated VAT code to that line. If you entered a different VAT code, a popup message appears indicating that it is invalid.

11. Last Updated: March 2004 11 of 55 DA1233 - Sales VAT Postings General Ledger - Journal Entry To view the VAT details, select F14-VAT. The VAT code is calculated automatically. The program assumes that the VAT is inclusive in the transaction amount.

12. Last Updated: March 2004 12 of 55 DA1233 - Sales VAT Postings General Ledger - Journal Entry The VAT details are then displayed for each line. To amend the VAT amount - select F8-Amend. The goods amount is adjusted accordingly, so that the line total remains the same The journal can now be completed as normal.The VAT details are then displayed for each line.

13. Last Updated: March 2004 13 of 55 DA1233 - Sales VAT Postings Accounts Receivable/ Accounts Payable

14. Last Updated: March 2004 14 of 55 DA1233 - Sales VAT Postings A/R & A/P - Invoice Entry The Invoice entry details lines within both Accounts Receivable and Accounts Payable have been modified to validate the posting code entered with the ledger. In A/P invoices the posting codes must be non-revenue type accounts. In A/R invoices, only posting codes that are revenue type accounts can be entered/browsed upon on the detail lines.

15. Last Updated: March 2004 15 of 55 DA1233 - Sales VAT Postings A/R & A/P - Invoice Entry When the detail line is accepted, the VAT is calculated and the VAT line generated automatically. The same restrictions also apply when amending invoice batches via the Batches option. Note: You cannot amend the VAT lines or override the calculation, unless the user has authorisation. Authorised users must belong to a user group and this user group must be set up on the new system key SLMODVxxxx, where xxxx is the user group name. and this key is set to YES (PLMODVxxxx, for A/P invoices). Only then can the VAT amount and posting code (only) be amended on each line. The VAT code matches that defined on the posting code Note: This also applies to short codes and posting codes generated from Project Accounting.

16. Last Updated: March 2004 16 of 55 DA1233 - Sales VAT Postings A/R & A/P - Batches enquiry When amending a batch via the Batches option, only users that have authorisation can amend items. Users without authorisation can only view, print and post the batch. This applies to Accounts Receivable and Accounts Payable batches. A warning message appears, if your user is not set up to amend batches. A user is authorised when they belong to a user group which has authorisation denoted by the system keys SLMODBxxxx or PLMODBxxxx, where xxxx is the user group name. This system key must also be set to YES.

17. Last Updated: March 2004 17 of 55 DA1233 - Sales VAT Postings Accounts Receivable - Interest Charge List Generation The Interest Charge List Generation option has been modified. The VAT code entered in the field Zero Rate VAT code must be that associated with the Interest Charge control account, otherwise the posting is rejected.

18. Last Updated: March 2004 18 of 55 DA1233 - Sales VAT Postings Cash Management

19. Last Updated: March 2004 19 of 55 DA1233 - Sales VAT Postings Cash Management - Receipts/Payments The Payments and Receipts options have been modified on the detail lines, as follows: Note: You cannot amend the VAT lines or override the calculation, unless the user has authorisation. Authorised users must belong to a user group and this user group must be set up on the new system key CBMODVxxxx, where xxxx is the user group name, and this key is set to YES. If the posting code entered here is a revenue type account, (or mapped to by the Project/expense combination, if Project Accounts is installed), the VAT code is updated automatically with the VAT code associated with the posting code entered.

20. Last Updated: March 2004 20 of 55 DA1233 - Sales VAT Postings Sales Order Entry & Invoicing

21. Last Updated: March 2004 21 of 55 DA1233 - Sales VAT Postings Sales Order Entry & Invoicing - Cost of Sales Codes The Cost of Sales Codes option has been modified so that the each cost of sales account is validated with the correct type of G/L posting code. Only revenue type posting codes can be entered for the Sales Account. Only non-revenue accounts can be entered for the Stock and COS accounts

22. Last Updated: March 2004 22 of 55 DA1233 - Sales VAT Postings Order Value Discounts A new set of system keys - OPNLDSCxxx has been created to hold Revenue G/L posting codes per associated VAT code, where xxx is the VAT code. A system key per G/L revenue posting code/VAT code combination MUST be created BEFORE you use your system. When you create these keys via the System Keys>Distribution> Order Entry & Invoicing, the VAT and G/L combination entered is validated. Order Value Discount GL postings are posted to separate Revenue Type GL Posting Codes for each VAT code used on a Sales Order by apportioning the discount across each order line. The order discounts are split across all order lines if either OPSPLITDSC OR OPSPLITVAT are set to YES. This is to ensure that the Sales VAT Report correctly reconciles the VAT postings and that both revenue and accompanying discount postings are reported correctly. This applies to Sales Orders, Invoices, Credit Notes, Telesales Orders and EDI Sales Orders. Order Value Discounts A new set of system keys - OPNLDSCxxx has been created to hold Revenue G/L posting codes per associated VAT code, where xxx is the VAT code. A system key per G/L revenue posting code/VAT code combination MUST be created BEFORE you use your system. When you create these keys via the System Keys>Distribution> Order Entry & Invoicing, the VAT and G/L combination entered is validated. Order Value Discount GL postings are posted to separate Revenue Type GL Posting Codes for each VAT code used on a Sales Order by apportioning the discount across each order line. The order discounts are split across all order lines if either OPSPLITDSC OR OPSPLITVAT are set to YES. This is to ensure that the Sales VAT Report correctly reconciles the VAT postings and that both revenue and accompanying discount postings are reported correctly. This applies to Sales Orders, Invoices, Credit Notes, Telesales Orders and EDI Sales Orders. Sales Order Entry & Invoicing - Order Value Discounts

23. Last Updated: March 2004 23 of 55 DA1233 - Sales VAT Postings Extended Discounts (DA0514) If your system is set up to use Extended Discounts (DA0514),The charge Scheme Discounts have been amended as follows: Charge Scheme Discounts now post to separate Revenue Type G/L posting codes for each VAT code used on Sales Orders, Invoices, Credit Notes and EDI Orders. Each Charge Scheme has a separate set of VAT code and Revenue Type posting codes held within a new extension table. The VAT code entered on each sales order line determines which posting code is used, based upon the G/L posting code/VAT code combination set up within the Charge Scheme. Extended Discounts (DA0514) If your system is set up to use Extended Discounts (DA0514),The charge Scheme Discounts have been amended as follows: Charge Scheme Discounts now post to separate Revenue Type G/L posting codes for each VAT code used on Sales Orders, Invoices, Credit Notes and EDI Orders. Each Charge Scheme has a separate set of VAT code and Revenue Type posting codes held within a new extension table. The VAT code entered on each sales order line determines which posting code is used, based upon the G/L posting code/VAT code combination set up within the Charge Scheme. Sales Order Entry & Invoicing - Extended Discounts

24. Last Updated: March 2004 24 of 55 DA1233 - Sales VAT Postings Sales Order Entry & Invoicing - Charge Scheme Entry The Cost of Sales If your system is also set up to use Extended Discounts (DA0514), an additional form has been added to Charge Scheme Entry option. Accept the main screen and the new VAT and G/L Posting code entry form is displayed. This form allows you to enter the G/L posting codes for each sales VAT code for the current charge scheme. When you have entered/selected the G/L posting code, the VAT code associated with the posting code is update automatically in this field. Only revenue type posting codes can be entered/selected here.

25. Last Updated: March 2004 25 of 55 DA1233 - Sales VAT Postings Sales Order Entry & Invoicing - Orders/Invoices/Credit Notes/Quotations/Standard Orders When the product or service line is accepted, the program now checks that the: Sales account from the Cost of Sales matrix or OPNLGDSxxx system keys is a revenue account. It also checks that the VAT code allocated to the detail line matches that assigned to the sales account revenue posting code. If either of the above fails, an error message is displayed.

26. Last Updated: March 2004 26 of 55 DA1233 - Sales VAT Postings Sales Order Entry & Invoicing - Orders/Invoices/Credit Notes/Quotations/Standard Orders If the system key OPNLACCESS is set to YES, you can correct the G/L code via the F7-Code function. Only Revenue type posting codes can be selected/entered. Note: This validation also applies to Credit Notes when they are created within Returns and Repairs. If validation fails, the credit note is rejected.

27. Last Updated: March 2004 27 of 55 DA1233 - Sales VAT Postings EDI Input

28. Last Updated: March 2004 28 of 55 DA1233 - Sales VAT Postings EDI Input - Sales Order Generation This option has been amended so that when Sales Orders are generated, the system checks that the G/L posting codes are revenue accounts and that the G/L posting code and VAT combinations are valid. If the validation fails, the order generation will fail. The line is rejected and a message is written to the system log.

29. Last Updated: March 2004 29 of 55 DA1233 - Sales VAT Postings Telesales

30. Last Updated: March 2004 30 of 55 DA1233 - Sales VAT Postings Telesales - Sales Orders Sales Orders The same functionality that is within Sales Order also applies to Telesales Sales orders. In addition, the Telesales special offers and carriage charge calculation generate additional lines. If the default values used to generate the new line do not have valid G/L Posting code/VAT combination, the line generation fails and an error message is displayed. Sales Orders The same functionality that is within Sales Order also applies to Telesales Sales orders. In addition, the Telesales special offers and carriage charge calculation generate additional lines. If the default values used to generate the new line do not have valid G/L Posting code/VAT combination, the line generation fails and an error message is displayed.

31. Last Updated: March 2004 31 of 55 DA1233 - Sales VAT Postings Returns and Repairs

32. Last Updated: March 2004 32 of 55 DA1233 - Sales VAT Postings Returns and Repairs - Credit Notes Credit Notes The Returns and Repairs Credit Notes have been modified to allow Credit Notes to be created with correct GL Posting Codes and valid VAT and Revenue GL Posting Code combinations. By applying the same validation rules as SOP Order Entry, the system will reject Credit Note creation if the rules fail. Credit Notes The Returns and Repairs Credit Notes have been modified to allow Credit Notes to be created with correct GL Posting Codes and valid VAT and Revenue GL Posting Code combinations. By applying the same validation rules as SOP Order Entry, the system will reject Credit Note creation if the rules fail.

33. Last Updated: March 2004 33 of 55 DA1233 - Sales VAT Postings Contract Management

34. Last Updated: March 2004 34 of 55 DA1233 - Sales VAT Postings Contract Management - Overview of Changes Overview Contract management enables contracts to be created for the delivery of services, charged in multiple ways for multiple customers over any time period. These contracts generate revenue that is posted to Accounts Receivable and General Ledger. Therefore, Contract Management enables the use of revenue type posting codes when creating revenue postings and non-revenue type posting codes for all other postings. Where revenue is posted, the system ensures that any revenue is associated with the correct VAT code allowing correct analysis of the VAT liability within the General Ledger. Revenue from contracts is created based on the contract details – the items to be billed, charges and charge periods. A Charging Run calculates the actual and deferred charges for a particular contract, or range of contracts, ready for Invoice Generation to create the relevant invoices. These invoices can then be posted into Accounts Receivable and the General Ledger. In order to meet the requirement, a validation is used in Contract Management in specific places to ensure that the contracts and any other static data is set up correctly. Transactions (Sales Ledger and GL postings) are created to conform to the new rules regarding revenue and VAT coding of revenue. Overview Contract management enables contracts to be created for the delivery of services, charged in multiple ways for multiple customers over any time period. These contracts generate revenue that is posted to Accounts Receivable and General Ledger. Therefore, Contract Management enables the use of revenue type posting codes when creating revenue postings and non-revenue type posting codes for all other postings. Where revenue is posted, the system ensures that any revenue is associated with the correct VAT code allowing correct analysis of the VAT liability within the General Ledger. Revenue from contracts is created based on the contract details – the items to be billed, charges and charge periods. A Charging Run calculates the actual and deferred charges for a particular contract, or range of contracts, ready for Invoice Generation to create the relevant invoices. These invoices can then be posted into Accounts Receivable and the General Ledger. In order to meet the requirement, a validation is used in Contract Management in specific places to ensure that the contracts and any other static data is set up correctly. Transactions (Sales Ledger and GL postings) are created to conform to the new rules regarding revenue and VAT coding of revenue.

35. Last Updated: March 2004 35 of 55 DA1233 - Sales VAT Postings Contract Management - Charging Run This option has been amended to provide a cross-check on the set up of the contract to validate the G/L postings and VAT codes to ensure they match. TO run this facility, tick the Dummy Run check box. Then tick the Validate GL Coding check box. Select CR-Accept to begin the charging run. Once the charge run is complete, it is possible to generate invoices against the charge run and subsequently revenue and deferred postings within Account Receivable and General Ledger. If this field is not ticked, no more additional validation takes place.

36. Last Updated: March 2004 36 of 55 DA1233 - Sales VAT Postings Contract Management - G/L Rule Codes Within the Accounts Set Details of the G/L Rule Codes, the system now checks that the first G/L Posting code in each of the G/L Account Sets defined for Revenue and Deferred Revenue are the same. If they are not, a warning is displayed.

37. Last Updated: March 2004 37 of 55 DA1233 - Sales VAT Postings Contract Management - G/L Account Sets The G/L Account Sets option has been amended so that all G/L posting codes entered for an account set must now only be a revenue type account, and that the VAT codes for the G/L posting codes are the same. When you browse on this field, only revenue type accounts are available for selection. This ensures all revenue can be reconciled against revenue GL posting codes and the relevant VAT code.

38. Last Updated: March 2004 38 of 55 DA1233 - Sales VAT Postings Contract Management - Post Deferred Revenue This option has been amended so that two additional balancing postings to a deferred revenue contra and actual revenue are made when the deferred revenue is recognised. The Actual revenue and Deferred Revenue Contra posting codes are defined on original deferred revenue posting code record - see Slide 9.

39. Last Updated: March 2004 39 of 55 DA1233 - Sales VAT Postings Contract Management - Post Deferred Revenue Example Example of Postings: Create G/L Rule Code called REVENUE with A/C Set Details of: Revenue set: REV Deferred Revenue set: DEFREV Create a contract and add the rule code REVENUE and a charge for £900. Post the whole deferred amount. The postings are as follows: DescriptionRevenue A/CsCRDR Deferred revenue A/CR-01-10-01-005 900 Deferred revenue contra N-01-10-01-002900 Actual Revenue N-01-10-01-001 900 The actual revenue and deferred revenue contra accounts are those accounts specified in the original. Example of Postings: Create G/L Rule Code called REVENUE with A/C Set Details of: Revenue set: REV Deferred Revenue set: DEFREV Create a contract and add the rule code REVENUE and a charge for £900. Post the whole deferred amount. The postings are as follows: DescriptionRevenue A/CsCRDR Deferred revenue A/CR-01-10-01-005 900 Deferred revenue contra N-01-10-01-002900 Actual Revenue N-01-10-01-001 900 The actual revenue and deferred revenue contra accounts are those accounts specified in the original.

40. Last Updated: March 2004 40 of 55 DA1233 - Sales VAT Postings Project Accounting

41. Last Updated: March 2004 41 of 55 DA1233 - Sales VAT Postings Project Accounting - Project Transactions Project Transactions Although the Project Billing module itself has not changed, if your system is set up to use Project Accounting, when project transactions are posted, the system now checks that the mapped posting codes are revenue type codes and that the VAT code on the detail line matches that associated with the mapped posting code. Project Transactions Although the Project Billing module itself has not changed, if your system is set up to use Project Accounting, when project transactions are posted, the system now checks that the mapped posting codes are revenue type codes and that the VAT code on the detail line matches that associated with the mapped posting code.

42. Last Updated: March 2004 42 of 55 DA1233 - Sales VAT Postings Project Billing

43. Last Updated: March 2004 43 of 55 DA1233 - Sales VAT Postings Project Billing - G/L Rule Codes This option now checks that any revenue type expense codes now map to only revenue posting codes, where a specific Contract/Service instance has been defined for the G/L rule code. If they do not, an error message is displayed, indicating which account type is incorrect. You will then have to go and check the mapped codes within Project Accounting for the project defined on the contract specified above.

44. Last Updated: March 2004 44 of 55 DA1233 - Sales VAT Postings Project Billing - Billing Contract Maintenance When defining the project rule codes within the service, the program now checks that the revenue code maps to a revenue type posting code. If it does not, an error message is displayed.

45. Last Updated: March 2004 45 of 55 DA1233 - Sales VAT Postings Project Billing - Billing Contract Maintenance When defining the financial instruction lines within the contract service, the program now checks that the VAT code entered is that associated with the revenue account posting code generated by the project and revenue code combination associated with this financial instruction line. If the VAT code does not match the criteria, an error message is displayed.

46. Last Updated: March 2004 46 of 55 DA1233 - Sales VAT Postings Project Billing - Billing Contract Maintenance If a contract status is changed to either TEST or ACTIVATE, the system now checks that the VAT codes and posting codes generated by the project/revenue code combinations are validated to ensure that the VAT code allocated to any revenue codes used is the same as that allocated to the contract. If any errors have been found a message is displayed.

47. Last Updated: March 2004 47 of 55 DA1233 - Sales VAT Postings Project Billing - Hold and Approve Authorisation Extra checks are made when amending the VAT code within revenue details for either Fixed Price or Time and Materials type recommendations. The system now checks that the new VAT code is the same as that allocated to the revenue account posting code generated by the project/revenue code combination associated with these recommendations.

48. Last Updated: March 2004 48 of 55 DA1233 - Sales VAT Postings Project Billing - Revenue Recognition This option has been amended to check the validity of the G/L posting codes before any journals are created. Tick the new field ‘Check G/L’ to check the validity of the G/L posting codes. Set the Create G/L Journals field to N, so the option is run in ‘report’ mode only.

49. Last Updated: March 2004 49 of 55 DA1233 - Sales VAT Postings Sales & Purchase VAT Reporting

50. Last Updated: March 2004 50 of 55 DA1233 - Sales VAT Postings VAT Sales Report - Summary Sales VAT Report - summary l A new report - VAT Sales Report has been added to General Configuration to reconcile the sales revenue transactions and associated VAT. l Only VAT codes with the Ledger code set to R are included in this report. l This report is only available if both DA1233 and DA0370 (European Tax) are licensed. l When this report is spooled, the system searches for all valid revenue G/L posting codes for the selected VAT codes and lists transactions posted to each of these, plus transactions posted to the VAT G/L code stored on the VAT Code record. Sales VAT Report - summary l A new report - VAT Sales Report has been added to General Configuration to reconcile the sales revenue transactions and associated VAT. l Only VAT codes with the Ledger code set to R are included in this report. l This report is only available if both DA1233 and DA0370 (European Tax) are licensed. l When this report is spooled, the system searches for all valid revenue G/L posting codes for the selected VAT codes and lists transactions posted to each of these, plus transactions posted to the VAT G/L code stored on the VAT Code record.

51. Last Updated: March 2004 51 of 55 DA1233 - Sales VAT Postings Other General Configuration Reports - Summary Additional changes have also been made to the following reports: l Purchase VAT Register l Purchase EC VAT Register l Sales VAT Register l Sales EC VAT Register l Summary VAT Register The changes to the above reports are as follows: l Selection criteria is printed at the top of each report l The reports (except Summary VAT Register) now sort by VAT/GL Posting code within the effective date l The fields: VAT Code Description, VAT G/L posting code and VAT Ledger Code are now available for printing on each detail line of the reports. Additional changes have also been made to the following reports: l Purchase VAT Register l Purchase EC VAT Register l Sales VAT Register l Sales EC VAT Register l Summary VAT Register The changes to the above reports are as follows: l Selection criteria is printed at the top of each report l The reports (except Summary VAT Register) now sort by VAT/GL Posting code within the effective date l The fields: VAT Code Description, VAT G/L posting code and VAT Ledger Code are now available for printing on each detail line of the reports.

52. Last Updated: March 2004 52 of 55 DA1233 - Sales VAT Postings A new report option is available within General Supporting Files which allows you to reconcile sales revenue transactions and their associated VAT postings. VAT Sales Report - Selections To restrict the period/year covered by this report, type in the period/year range. Type in a range of VAT codes or leave blank for all VAT codes. Only Revenue type VAT codes can be selected/entered. Type D to print all sales revenue and associated VAT transactions. Type S to only print the posting code and VAT code sub-totals. Type CR-Accept to run the report.

53. Last Updated: March 2004 53 of 55 DA1233 - Sales VAT Postings Company name: Sage UK Base currency: STG User name: lkerry Period/Year range : 03/03 – 03/03Date range : xx/xx/xxxx – xx/xx/xxxxVAT code range: xxx - xxx VAT code: V1Description: Sales VATRegister: R01VAT Rate: 17.5% Revenue posting/s Posting CodeDescription Trans DateEff. DateJournalBase ValueTransaction ValueVAT Protocol 1-01-10-01-001Sales – Pumps 25/02/0301/03/03OP/I001609100.00100.000000000678 07/03/0307/03/03OP/I001627233.12233.120000000710 21/03/0321/03/03OP/I00165551.7551.75Not Available 25/03/0325/03/03OP/I0017081059.831059.830000000782 Total 1444.701444.70 1-01-10-01-002Sales – Tyres 14/03/0314/03/03OP/I00173819.8719.870000000744 Total 19.8719.87 VAT posting/s 9-99-60-04-003Sales VAT 25/02/0301/03/03OP/I00160917.5017.500000000678 07/03/0307/03/03OP/I00162740.8040.800000000710 14/03/0314/03/03OP/I0017383.483.480000000744 21/03/0321/03/03OP/I0016559.069.06Not Available 25/03/0325/03/03OP/I001708185.47185.470000000782 Total 256.31256.31 SUMMARY OF VAT CODE V1: Expected VAT : 1464.57 * 17.5% = 256.30 VAT Posted :256.31 Difference :0.01 End of report VAT Sales Report - Sample Report The selection criteria is displayed at the top of the report. Transactions are sorted by effective date then transaction number The report sorts by VAT code followed by G/L Posting code

54. Last Updated: March 2004 54 of 55 DA1233 - Sales VAT Postings VAT Sales Report - Sample Report If a transaction does not exist in the VAT Register, a message “Not Available” is printed. Company name: Sage UK Base currency: STG User name: lkerry Period/Year range : 03/03 – 03/03Date range : xx/xx/xxxx – xx/xx/xxxxVAT code range: xxx - xxx VAT code: V1Description: Sales VATRegister: R01VAT Rate: 17.5% Revenue posting/s Posting CodeDescription Trans DateEff. DateJournalBase ValueTransaction ValueVAT Protocol 1-01-10-01-001Sales – Pumps 25/02/0301/03/03OP/I001609100.00100.000000000678 07/03/0307/03/03OP/I001627233.12233.120000000710 21/03/0321/03/03OP/I00165551.7551.75Not Available 25/03/0325/03/03OP/I0017081059.831059.830000000782 Total 1444.701444.70 1-01-10-01-002Sales – Tyres 14/03/0314/03/03OP/I00173819.8719.870000000744 Total 19.8719.87 VAT posting/s 9-99-60-04-003Sales VAT 25/02/0301/03/03OP/I00160917.5017.500000000678 07/03/0307/03/03OP/I00162740.8040.800000000710 14/03/0314/03/03OP/I0017383.483.480000000744 21/03/0321/03/03OP/I0016559.069.06Not Available 25/03/0325/03/03OP/I001708185.47185.470000000782 Total 256.31256.31 SUMMARY OF VAT CODE V1: Expected VAT : 1464.57 * 17.5% = 256.30 VAT Posted :256.31 Difference :0.01 End of report The total value of the transactions is printed as a sub- total after each posting code.

55. Last Updated: March 2004 55 of 55 DA1233 - Sales VAT Postings Company name: Sage UK Base currency: STG User name: lkerry Period/Year range : 03/03 – 03/03Date range : xx/xx/xxxx – xx/xx/xxxxVAT code range: xxx - xxx VAT code: V1Description: Sales VATRegister: R01VAT Rate: 17.5% Revenue posting/s Posting CodeDescription Trans DateEff. DateJournalBase ValueTransaction ValueVAT Protocol 1-01-10-01-001Sales – Pumps 25/02/0301/03/03OP/I001609100.00100.000000000678 07/03/0307/03/03OP/I001627233.12233.120000000710 21/03/0321/03/03OP/I00165551.7551.75Not Available 25/03/0325/03/03OP/I0017081059.831059.830000000782 Total 1444.701444.70 1-01-10-01-002Sales – Tyres 14/03/0314/03/03OP/I00173819.8719.870000000744 Total 19.8719.87 VAT posting/s 9-99-60-04-003Sales VAT 25/02/0301/03/03OP/I00160917.5017.500000000678 07/03/0307/03/03OP/I00162740.8040.800000000710 14/03/0314/03/03OP/I0017383.483.480000000744 21/03/0321/03/03OP/I0016559.069.06Not Available 25/03/0325/03/03OP/I001708185.47185.470000000782 Total 256.31256.31 SUMMARY OF VAT CODE V1: Expected VAT : 1464.57 * 17.5% = 256.30 VAT Posted :256.31 Difference :0.01 End of report VAT Sales Report - Sample Report A summary is printed after each VAT code totalling the Revenue transactions and multiplying this by the rate of held against the VAT code. The value of the VAT transactions is compared and any differences shown