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VAT Rate Change on 1st January 2020 to 14.5% - Evolution (Sage 200)

2 January 2020

On behalf of the entire team at Chips Enterprise Solutions, we thank you for your support over 2019.

VAT Rate Change on 1 January 2020 to 14.5%

Changing of the VAT rate within Sage 200 Evolution is very simple and the system is designed to handle a change in rate. (This change in rate will only apply to new or unposted  transactions and not retrospectively.)

For Sage 200 Evolution, a document has been created to guide you on how to effect the change.
The current tax rates of 15% are edited and changed to 14.5% and a new tax type is created at 15% for any  transactions that need to be  backdated. .

Fiscal Devices – Please ensure you check with the supplier of your fiscal devices as to whether any changes have to be effected to the Fiscal Device. There are some models that also need changes effected to the actual device for the new rate of 14.5%

Areas within the software have been enhanced in 7.20.7 to further ensure the correct rate is used at time of transacting:

·         Linked Credit notes – for invoices posted prior to 31 December 2019 that are credited, the rate on the original invoice will be used.

·         Linked Return to Suppliers – for supplier invoices posted prior to 31 December 2019 that are returned, the rate on the original supplier invoice will be used.

·         Return dockets in Retail Point of Sale – for dockets posted prior to 31 December 2019 that are returned, the rate on the original docket will be used.

Please note that 7.20.7 is not required to change that tax rate within your system to 14.5%.
 
We have created a detailed document on how to effect the Vat rate change which can be obtained from helpline@pastel.co.zw or your dealer

Current Versions of Sage 200 Evolution

-       The latest version is Sage 200 Evolution V10.000.062
-       A list of features available in V10 that have been added since 7.20 are detailed 
in a document available from helpline@pastel.co.zw 

Support during festive season

Our offices will remain open throughout the festive season during normal business trading hours except for the public holidays that are the 23 December, 25 December, 26 December 2019 and the 1 January 2020.
All the best for this upcoming festive season!
 
Warm Regards
 

The Chips Team