This article describes the needed changes regarding the VAT rate change in InvoiceReady solution, how to implement these changes, and when and how to request assistance from Basware.
How to implement VAT rate changes in InvoiceReady
When defining tax/VAT rates into InvoiceReady, it is possible to configure them with a predefined period of validity. When the tax code is valid it functions normally, but if posting is saved in InvoiceReady with a tax code that is not valid on the voucher date of the invoice for which the posting is being saved, InvoiceReady will automatically attempt to find a replacement tax code.
Image 1: Showing example of a tax code with its validity set to end on 31st of August 2024, after which it will be replaced with a new tax code “255”.
There are two ways of handling the replacement of an invalid tax code, as described below:
Option 1: Replacing tax code (Best Practice)
If defined with a replacing tax code, InvoiceReady will automatically replace the old invalid tax code with the new one, as long as the new code is valid. The new tax code will appear on the invoice posting row and its tax rate and posting details will be used to generate tax posting rows.
This means that the old tax code name will still appear in places like default posting rules and contracts, and the new tax code will replace the old one when an invoice posting row is saved. This also applies if a user manually enters a posting row with the old tax code: if its validity has ended, it will be replaced automatically when the posting row is saved.
Old tax codes can be manually replaced over time on posting rules and such, if so desired, but this is not absolutely necessary.
Option 2: New tax rate
If defined with a new tax rate, InvoiceReady will display and use the old tax code along with its ledger accounts and any potential tax discount values, but the tax rate used to calculate the value of tax posting rows will be the new tax rate instead.
To request Basware service, you can reach out to Basware Delivery Consulting by Requesting a Service in the Customer Portal.
To ensure the availability of Basware assistance, we highly recommend to sign up for the support before 5th of August.