User manual SAGE INSTANT ACCOUNTS GUIDE

[. . . ] Sage Instant Accounts Guide v16 This document is the Sage Instant Accounts Guide. The guide is divided into a number of chapters, which fall into logical groups. The first two chapters are concerned with installation and helping you get started using the software. They are intended mainly for those new to the software. [. . . ] This appears in the Financials Window. 4. 7. 252 Company Tasks Making a VAT payment to HMRC using e-Banking 1. From the Bank Accounts window, select the bank account you are using to pay HMRC, and then click e-Payments. The Send Payment window appears, displaying all outstanding supplier and HMRC payments for the selected bank account. Highlight the HMRC payment(s) requiring payment then click Send. The Payment Confirmation From information box appears, displaying the number and value of payments to be made. To view where the payment will be made, click Show Details. To confirm the payments to be made, click OK. The information is transferred from Sage Instant Accounts to a file, ready for your bank software to use. 3. Sage e-Banking / UK Payment Account setting within the HMRC Payments Window When you complete Step 4 above, the VAT window is updated and the VAT Return Paid box is shown as Y instead of N. Sage e-Banking / Payment from NON-UK A/C setting within the HMRC Payments Window Even if e-Banking has been enabled, you will not be able to post these HMRC transactions using e-Banking. Attempts to do so will generate a system message: "You have selected to make Payment to a NON ­UK A/C. Please note than you will not be able to make this payment via the Sage e-Banking module. Please use another payment method to make this payment to HMRC. " 253 Sage Instant Accounts Guide HMRC bank accounts HMRC operates two sets of accounts payment details for receiving VAT payments - one for receiving payment from a UK bank account, and a second set for receiving VAT payments from a non-UK bank account. Details of these two sets of payment details are as follows: HMRC bank account details for VAT payment from UK bank accounts Bank of England Threadneedle Street LONDON EC2R 8AH Sort Code: 10-00-00 Account No: 52055000 Account name: HMCE VAT HMRC bank account details for VAT payment from non - UK bank accounts Bank of England Threadneedle Street LONDON EC2R 8AH IBAN Number: GB03BKEN10000052055000 BIC Code: BKENGB33 Account name: HMCE VAT HMRC have advised that late in 2008, it is their intention to change their bank account details. These bank details are only used, when paying VAT liability to HMRC, using the Sage e-banking feature. When these details change, you can modify the sort code and account number in the HMRC Bank Details section of the VAT tab in your Company Preferences. For more information about this, see To configure your VAT preferences on page 110. 254 Company Tasks If required - generate an EC Sales List If you are registered for VAT and supply goods and/or services to customers in the EC, you need to submit an EC Sales List. The information provided on the EC Sales List is used in the UK and by other Member States to ensure that VAT has been correctly accounted for, on the sale of goods and services within the EC. If your supply of goods and services to the EC is greater than £70, 000 per quarter, you will need to make monthly EC Sales List submissions. Open the Company module, then from the Tasks pane, click Manage VAT. From the VAT window toolbar, click EC Sales. The EC Sales List window appears. The company name, VAT Registration Number and Branch Identifier boxes are pre-populated with the information entered in the VAT Settings and Preferences set up stages. [. . . ] You have now fixed the exchange rate for South African Rand and US Dollars. Once you have set up your currency defaults, you can calculate your base currency value from the foreign currency by using the currency calculator. To do this press F5, whenever you are in any box that requires a currency value, for example net or price boxes. 474 Working with Foreign Currencies and Accounts The Countries table The Countries table lists all countries, together with their respective country codes. Sage Instant Accounts uses this information for Intrastat reporting purposes. [. . . ]