Important Changes: VAT Reporting
This announcement applies to all NetSuite customers and partners whose businesses are VAT registered in the UK.
NetSuite is pleased to announce that VAT reporting is being enhanced with the release of a SuiteBundle on Monday 29 March 2010.
1. UK VAT 100 – updated VAT100 and related detail reports and integrated online filing direct with HMRC.
2. EC Sales List – new reports and integrated online filing direct with HMRC. Reports can also be created for other EU subsidiaries.
3. Intrastat Reporting – new feature that provides reports for tracking cross-border goods movements with export file capability enabling upload to the HMRC website.
4. VAT Reports by Tax Code - two new Saved Reports covering Sales and Purchase VAT, split by tax codes, that can be used for any subsidiary and any period.