As per the latest Government Update regarding the change in VAT to the Hospitality Sector, we have created the new guide on amending your VAT rates and also guidance on stock pricing changes.
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Navigate to Commercials -> Stock Records
Use the Prev / Next buttons or the Find option to locate the item you wish to change the VAT Rate on.
Navigate to Commercials -> Stock Records
Use the Prev / Next buttons or the Find option to locate the item you wish to change the Sell Price on.
Navigate to Utilities -> VAT Control -> VAT Rates
Use the Prev / Next buttons, or use the Find option to locate the VAT rate you wish to amend.
Click Edit and amend the necessary information.
Click Save to update the record.
Sell Prices on Stock records can be amended in several ways, but a time saving option is to use the Stock Import / Export functionality.
Firstly you need to export the stock to an Excel spreadsheet. You can do this by going to Commercials -> Stock Control -> Utilities -> Export to Excel.
You can choose to only export a range of stock records based on code and category:
Click Ok and when prompted save the spreadsheet to a suitable location.
Open the spreadsheet and you’ll see stock codes in column A which is labelled cstockcode. The corresponding Sell Price is in column S which is labelled nsellprice. Amend the Sell Price for any items you wish to change ensuring that the structure of the spreadsheet isn’t altered in any way.
If you wish to use Excel to perform some calculations (such as increasing all prices by 10%) then copy the nsellprice column to another spreadsheet, perform the necessary calculations, and paste the results back using the Paste Values option.
Once you’ve finished amending prices, save the spreadsheet in the same format, which is Microsoft Excel 5.0/95 Workbook (.xls) and switch back to Back Office Accounts.
Go to Commercials -> Stock Control -> Utilities -> Import from Excel
Click on the Browse button and locate your amended spreadsheet
Click Import
When prompted you can view a report of which records will be updated. For ease you can just select Screen Preview here
You’ll then be presented with the report
If you’re happy with the proposed changes then say Yes on the following prompt
Once the import is finished, you’ll receive the following confirmation
You can’t actually create new VAT Rates in Back Office Accounts, but there are 12 (S, E, Z and 1-9) created as standard, so you just need to amend one which isn’t already in use.
Navigate to Utilities -> VAT Control -> VAT Rates
Use the Prev / Next buttons to locate a Rate which isn’t already being used
Click Edit and set the Description and VAT Rate accordingly.
Click Save
In Back Office Accounts you have the ability to flag an item as VAT Inclusive which is very convenient in a retail environment as it allows you to enter the Gross Price in the Sell Price field, which is what the customer will ultimately pay.
However, when using this option, it’s important to note that if the rate of VAT associated with the item changes, the price of the item itself will remain the same. If you want to pass on some of the costs or savings to your customer, then the price will need to be adjusted manually.
To change the VAT Inclusive Price status of an item, navigate to Commercials -> Stock Records
Use the Prev / Next buttons or the Find option to locate the item you wish to change the option on.
Click Edit and tick VAT Inclusive Price.
You’ll see that the read-only VAT Inc Price field is now renamed to VAT Ex Price so you can see the price of the item without any VAT included.
Click Save
