Walton on Thames, Surrey (PRWEB) December 10, 2008
When the Chancellor of the Exchequer announced the decrease in standard VAT from 17.5% to 15% from December 1st many of us wondered if he had fully considered the implications of the change. Yes, you will save 21p on a £10 purchase, but what has it cost the retailer and supply chain to implement that change?
"Fortunately if they are using Microsoft Dynamics NAV their change was easily managed" said Richard Thompson, Managing Director of TVision Technology (http://www.tvisiontech.co.uk/) Dynamics NAV specialists and Microsoft Gold Partners.
VAT rates are not hard coded in Dyanamics NAV software so the simplest activity is to change the percentage in the VAT posting group table. More consideration was needed around how to manage reports where calculations may have been written into the report. The Microsoft Dynamics NAV development team, based in Denmark, had already dealt with this issue when Belgium changed their VAT earlier in the year so within a week of the announcement, tools were provided to NAV partners to manage the change in VAT in each client site.
One of TVision's clients had not long been live on Dynamics NAV when the change came in: "Once you understand NAV it's so easy. We knew the way VAT Posting Groups were set up so we knew how to change it. We didn't even need to contact the TVision support desk." Emma Holford, GRS Group.
There are still accounting considerations that our clients will have to work through themselves; for example, managing part-paid invoices. All our clients were reassured that the system could cope with the change and that Microsoft acted swiftly to provide tools to make this even easier. Very reassuring, especially for our wine trade clients who also had to implement the change in duty at their busiest trading time. Dynamics NAV users can continue to look forward to a happy Christmas!
For more information on Microsoft Dynamics NAV, visit
About TVision Technology:
TVision Technology is a Microsoft Gold Partner specialising in the implementation and support of Microsoft Dynamics NAV.
TVISION TECHNOLOGY LTD
Tel: + 44 ( 0 ) 1932 242 001