VAT Change 4^th January 2011

On the 4^th January 2011 the VAT rate for common goods will be increased from 17.5% to 20%.

This will put pressure on retailers on such a busy day and to minimize that we have created a small utility to make the transition as easy as possible.

Follow these steps:

Download the utility from

http://www.pcs-technology.com/downloads/utils/VATUpdate.exe

And Save to your local PC.

Now Run this Application on any one of your back office PC’s running the PCS Retail software (or till)

Note that this utility only needs to be run once on a system. i.e. if you have 5 tills you still only need to run this on one machine as it will update your main database.

The first screen you may see will only show if you try to run the VAT update application before the 4^th of January. If you are not selling before 4^th January 2011, you can click YES to continue.

This is the main screen:

If you try to run this prior to Jan 1^st 2009, then the program will come up with a message asking you if you wish to proceed.

Also, if you try to run the program more than once it will tell you that you can’t, so be careful with the option you choose.

Option 1: Only update the VAT

All the products that were 17.5% VAT will now become 20% VAT

This will lead to strange prices.

For example if the list price is £1.00, 17.5% VAT is 15p so the selling price is £1.15, nice round figure

But when we change the VAT to 20%, the VAT is 17.5p so the selling price is (rounding up) £1.18, not as good as a figure ending in 0 or 5.

You will need to update all the prices manually to make more sensible looking prices.

Option 2: Update the VAT and Keep the prices

All the products that were 17.5% VAT will have become 20% VAT

The selling prices will be the same as they are right now, but the list prices will be different because they have a higher VAT content.

This is the most common choice

Option 3: Update the VAT and Round the prices to the nearest 5p

All the products that were 17.5% VAT will now become 20% VAT

This can round up or down the prices, depending on your prices.

For example, £1.72 will be £1.70 because it is closers to £1.70 than to £1.75

The same way £1.74 will be £1.75 and £1.78 will be £1.80

Once you have run any of the 3 options, please run Autoload on each and every till & Backoffice PC.

Note: The following tables and fields are updates with Options 2 and 3:

§ Products (List_Price, List_PriceB)

§ ProductStore (List_Price, List_PriceB)

§ PriceBreak (List_Price, List_PriceB)

§ Fast Menu (Price)

§ PostRate (List_Price)

Addendum

For those familiar with the system If you don’t want to use the VAT utility and just simply want to change the VAT Rate, you can do that from the Back Office.

In the Main menu, click on File Maintenance Menu

Now click on VAT Maintenance

You will have a screen similar to this:

Click in the row with the Rate 17.5

Where you see 17.50 (highlighted in red), type 20 and press the button Update.

The Main VAT is now 20.

If you run Autoload on each of your tills the change will take effect