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Updates

Changes to Finance Reports/Exports

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Reason For Update:

We have made some improvements to a selection of our Reports to include the Deferred Income report, Work in Progress and the Completed Contract Report. In addition we have been carrying out some improvements to the Export area to improve the ease of its use on import with accounting software and internal processes. Finally there new VAT codes are coming in for import/export after Brexit, please find details towards the bottom.

Deferred Income (DI) and Work in Progress (WIP) Reports

The DI and WIP reports are set to go by the Revenue Recognition date (please see previous update for information on the Revenue Recognition date. If you do not use it this will be your Completion date) rather than the Contract date for more accurate periodic reporting.

These reports will now give you All relevant (dependent on the criteria of the two reports) live jobs at the date of the report rather than those sold within a period.

Completed Contracts

As above, the Completed Contract Report already runs from the Revenue Recognition Date (or the Completed Date) rather than the Contract Date as it could not otherwise be considered Complete.

However, The Exclude date will now point to the Revenue Recognition/Completed date range rather than Contract/Sold date as it did previously.

The date range will now give you all jobs completed within the period.

Finance Exports

Customer Invoice, Payments and Costs Exports now include an ‘Export to’ date. As the CRM will only Export data once (with the ‘Mark Items on Accounts Export’ set) to ensure no duplication in your accounts software from the imports. Therefore, this change enables you to select dates that better tie in with month/period ends. This would be based on the invoice date rather than the date entered.

There is an option to select future dates to offer support with payment methods such as SagePay.

Customer Invoice Export

On the Export tab in your main menu you will find that the Customer Invoice Export now includes the Customers Contract No (see column L)

VAT Codes

Due to the new import/export situation after Brexit there are new UK VAT codes applicable to suppliers, these include T16 & T18.

The new VAT code 16 – Purchase Services ROW (Reverse Charge) is intended for purchase of services from all countries outside the UK that you account for under the reverse charge procedure.

The new VAT code 18 – Import Goods ROW – Postponed VAT is intended for purchase of goods from all countries outside the UK (including EU) with VAT charged, using postponed VAT accounting

The rate for both of these is 20%, it is just about whether you reverse charge or postpone payment.


In addition to the codes above there are changes coming in from HMRC for March 1st. When dealing with a VAT registered business under the CIS Scheme, the supplier (e.g your company) will no longer receive the VAT element of the contract. This will be paid directly by the client to HMRC.

There are two new codes to handle this: T21 – for 20% and T26 – for 5%

These will both show a Nett Invoice value and the CRM will calculate all balances/reports on that basis. Within the invoice table we will have a statement under the payment line as follows:
‘Reverse charge: Customer to pay VAT element to HMRC, £……’ (Sum to calculate based on the 20/5 relevant code)

Business Pilot has a continual development cycle and all new features are included within your subscription. In fact, as a user, we encourage you to ask for more! That way, we all benefit from a continually improved system.

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