How To: Sell Qualifying Goods at zero-rate

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Where goods or services falling within the remit of Notice 701/6 (September 2003) are to be included as VAT zero-rated items on a Sales Order:

If the relevant stock item(s) are not already zero-rated, they can be setup as a "move with" parent having the real stock item as its child:

  1. Open a Stock screen (show me how).
  2. Display the drop-down 'Other Actions' menu either by pressing F9 or clicking the down arrow immediately to the right of the The green circle with a white cross icon on the button bar opens the "Other Actions" menu green circle with a white cross icon at the top of the button bar.
  3. Use "Copy Stock Item" to copy the existing stock item;
  4. Use the Stock screen's Detail tab to set the new item's "Stock code" (e.g. add the suffix 'Z' or '-ZERO' to the existing stock code);
  5. Amend the "Description" as appropriate (e.g. add suffix 'ZERO RATED')
  6. Set the [ Stock | Accounting ] Tax Rate  for new '-ZERO' stock item to be zero-rated;
  7. If necessary, change the value of the "Sell Price" to be net (i.e. exclusive of VAT);
  8. Reset "Safe Level" and "Min Level" to zero;
  9. On the Options tab, untick "Stock Controlled";
  10. Press Ctrl+S or click the disk icon is the button bar's SAVE button    to save. the new stock item.
  11. Press Alt+E or click the green triangle icon is the buttonbar's EDIT button to enter edit mode.
  12. From the stock screen's Relationship tab, add the original stock item as a "move with" child.
  13. Update any price lists with the new VAT zero-rated "move with" item.
  14. Press Ctrl+S or click the disk icon is the button bar's SAVE button    to save. the new stock item.

See Also

Visit KhaosWikiX at http://wiki.keystonesupport.net/wiki_kcx/ to see the following:

External Links

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