Administrator Setup

These tasks are typically performed by someone with Administrator user permissions.

Set Up Tax Code Page Layout

You must add two fields, Tax Box and Net Box, to the FinancialForce Accounting Tax Code object:

  1. Click Your Name | Setup | Create | Objects | Tax Code.
  2. Scroll down to the Page Layout related list.
  3. Click Edit next to Tax Code Layout.
  4. Drag the Tax Box and Net Box custom fields to the layout.
  5. Click Save.

Set Up Custom Reports and Email Template

If you want to use the standard reports or email template that are installed with the FinancialForce VAT package, you are ready to go.

However, if you want to use a custom report or email template with a different name, your administrator must create a new VAT Report Settings (FF) custom setting.

The default names are:

  • VATReturnBreakdownReport
  • ECSalesListReport
  • VATReportCompletedConfirmation

To specify a custom report or email template:

  1. Click Your Name | Setup | Develop | Custom Settings.
  2. Click Manage next to the VAT Report Settings (FF) custom setting.
  3. Click New at org level.
  4. [Optional] Enter one or both existing report names.
  5. [Optional] Enter the name of an existing custom email template.
  6. Click Save.

Set Up Making Tax Digital

Prerequisites

  • Ensure you are up-to-date with your VAT return filings to HMRC.
  • Ensure you have the following installed:
    • VAT Reporting Reporting Fall 2018 and later
    • Accounting Fall 2018 and later
Note: We recommend you stay up-to-date with our latest releases in order to ensure supportability.

Existing VAT Reporting Customers

Note: Before submitting to HMRC, you must ensure that your past VAT transactions data is reconciled. To do this, you must generate and reconcile your VAT return reports up to and including the last VAT return submitted via the HMRC Gateway. For more information, see Generating a VAT Return Report and Reconciling a VAT Return Report.

You are now ready to install VAT Reporting Spring 2021 and submit your return digitally.

Existing FinancialForce Accounting Customers New to VAT Reporting

  1. Before changing the VAT report status to "Reconciled", generate VAT reports for the appropriate periods and reconcile them to their original returns. This ensures that you only include transactions relevant to the period of the first digital return. For more information, see Managing VAT Reporting.
  2. Select the checkbox "I want to reconcile this report without submitting to HMRC".
  3. Click Reconcile.

New FinancialForce Accounting Customers

As a new Accounting customer you must ensure that any open transactions needed in your first VAT return after going live are migrated to Accounting.

This ensures that the transactions are included in the first return created from VAT Reporting Spring 2021.

Note: This must be coordinated with your implementation consultant.