What's New: VAT Date in Business Central (2023 release wave 2)
VAT Date in Business Central (2023 release wave 2): a separate VAT date field alongside posting date, with setup options on General Ledger Setup, posting consistency checks, VAT return period controls, reports that filter on VAT date, and editing after posting from VAT entries.
- Introduction and roadmap of VAT Date feature
- Evolution and upcoming changes to VAT Date setup
- Data population and localization of VAT Date field
- Setup options and configuration of VAT Date usage
- Default VAT Date and period controls
- VAT Date workflow and reporting
- VAT Date consistency checks in posting procedure
- Allowed VAT Date periods and field separation
- VAT return period protection and compliance controls
- Modifying VAT Date after posting and closing remarks
Overview
The video explains the VAT Date feature, which lets users report VAT on a date other than the posting date, for example a document date. It covers how the field was introduced starting with 2022 release wave 2 (version 21), how existing entries are populated with the posting date through upgrade code, and where it applies. It is a W1 feature available in most countries except Italy, which already had a similar feature. In localizations without a VAT system the field is called tax date.
The presenter walks through the General Ledger Setup options (VAT Date Usage, Default VAT Date, Control VAT Period), the consistency checks in the posting procedure, and how VAT-based reports use the VAT date. It also shows changing the VAT date after posting from VAT entries. A planned redesign in a later minor version of version 23 will move the allowed VAT date range into separate fields in VAT setup.
Key points
- VAT Date separates VAT reporting from posting date. It is a W1 feature in most countries except Italy, which already had a similar feature. Where there is no VAT system, the field is called tax date.
- VAT Date Usage on General Ledger Setup has three options: Enable, Prevent Modification (described as enabled by default; it exists because some countries do not allow changing VAT date after posting) and Disabled (field hidden, but the system still uses posting date automatically).
- Default VAT Date on General Ledger Setup chooses posting date or document date as the default. It can be changed only on non-posted documents and affects some postings.
- Control VAT Period can block posting, warn only, or be turned off when VAT periods are not used. Posting checks cover a default VAT date if empty, the allowed VAT posting date range, and non-closed VAT return periods.
- A blank VAT date can still be posted through APIs even though the UI prevents it.
- With the default setup, VAT reports such as VAT statement, Calculate and Post VAT Settlement and VAT Declaration give the same output as before, because VAT date equals posting date. Output differs only if VAT dates are edited or setup is changed.
- A VAT date can be modified after posting from VAT entries if setup allows. The change propagates to posted documents and related GL entries.
Features
| Feature | Status | At | Evidence |
|---|---|---|---|
| VAT Date field | status not stated, demoed | 1:04 | |
| VAT Date Usage field options | status not stated | 3:54 | |
| Default VAT Date setting | status not stated, demoed | 6:05 | |
| Control VAT Period setup | status not stated | 6:25 | |
| VAT Date Consistency Checks | status not stated | 9:31 | |
| Allowed VAT Date Periods | announced | 12:27 | “based on your feedback we decided to split it in the version 23 uh it will be released in one of minor versions” (13:09) |
| VAT Date modification after posting | status not stated, demoed | 14:27 | |
| VAT Date in reports | status not stated, demoed | 7:52 | |
| VAT Period status handling | status not stated | 13:47 | |
| VAT Date redesign in version 23 | announced | 0:52 | “we decided to move this to V allow from uh posting it will come in next to min not immediately in October but this” (2:04) |
AL objects mentioned
As heard in the captions. A name that matches one object page by exact type and name links to it; the others stay as named.
- page 118 “General Ledger Setup” at 3:54
- page 187 “VAT Setup” at 13:09
- page 315 “VAT Entries” at 14:47
- report 12 “VAT Statement” at 8:29
- report “Calculate and Post VAT Settlement” at 8:29
- report “VAT Declaration” at 8:29
Not found in BC28-30: report “Calculate and Post VAT Settlement”, report “VAT Declaration”.
Quotes
- 1:04 “not to use all the time posting date for V purpose that we can choose a document date”
- 1:24 “we started with 2022 release Wave 2 or version 21 and this is this is the moment when we added these to production”
- 2:04 “we decided to move this to V allow from uh posting it will come in next to min not immediately in October but this”
- 2:55 “this feature is W1 feature so it means it is available in all actually in most of countries where busy Central is available except”
- 8:50 “with the default setup in the system there are not going to be any changes to these reports or their output posting date and”
- 11:23 “V date is from compliance standpoint indispensible and cannot be disabled”
- 13:09 “it will be released in one of minor versions so now we have the same Fields used to check vat date only defined in”
- 14:47 “we allow you to do this from the vat entries where you can go to a record and specify a new vat date but”
Disclaimers in the video
- 2:04 coming-later: it will come in next to min not immediately in October but this is definitely in our Clos road map
- 13:09 coming-later: it will be released in one of minor versions
Presenters (as heard): Alexander, Magnus, Pred.