Problem reported by Gordon Ramsey 3 years ago
Client is not VAT registered but has configured the settings to Record VAT on purchases when not registered (a pre registration contingency).
Problem is that the Pending asset transfer from Purchases sets the Fixed Asset up net of VAT ( perfectly normal for a VAT registered business) but of no use for a non Registered business - that is a bug that needs fixing
SolvedHi Gordon,
I really appreciate you for raising this to our attention. I have escalated this with our Technical team to look into.
Tommy
Tommy - 3 years in and this still has not been fixed
Hi Gordon,
My deepest apologies. I had misunderstood the initial issue, I have re-escalated and will keep you updated.
Tommy
Tommy
Just to be clear - the creation of the Asset record in the balance sheet is correctly recorded including VAT. The problem is that the 'Generate Pending Asset' link that lets you configure the depreciation parameters presents a menu pre filled with the NET of VAT value - correct for registered Vat businesses, but incorrect for those that are not yet registered. The temptation is not to check that number so the depreciation profile is calculated on an incorrect number.
Hi Gordon,
Thank you for this. Our Developers have created a fix for this and is currently in review. I will let you know once released.
Tommy
Hi Gordon,
The fix has now been released. Thank you again for bringing this to our attention!
Tommy
Yup - working now
Many Thanks
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