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Office newsPriscilla has been with us about two months now, and she is getting on very well, looking after your accounting issues especially. Many of you have probably spoken to her by now. Otherwise all is quiet on the office front.
Most of this newsletter is devoted to the subject of the New Zealand GST increase on 1 October. Do make sure you update your GST tax code in Fastbase before the deadline. Also you will need to do a Fastbase software update before that date. See the notes below for details.
The discussion below should address the most obvious GST questions, but there may be considerations specific to your business; talk to your accountant or give us a call if you have questions.
GST change on 1 OctoberFrom 1 October 2010 a new GST tax rate of 15% will take effect in New Zealand.
Fastbase has always supported the ability to set a new tax rate, to take effect on a nominated date. The main thing you need to do is set the new Start Date and Tax Rate for the GST tax rate, under Utilities - Tax Codes. However there are some considerations you should be aware of, for example regarding transactions that span the cutover date. Also we have made some software fixes to improve the handling of the rate change.
We have upgraded Fastbase to resolve two issues we found. Previously, if you set a Start Date for the tax code of 1 October, the change would not take effect until 2 October. We have fixed this, now the Start Date is effective from the correct date. Also previously, for AR credits Fastbase applied the GST rate as at the date of the credit, not the date of the original invoice. We have fixed this also. Now for AR credits, Fastbase applies the GST rate based on the original invoice date.
We strongly recommend you do a Fastbase software update before 1 October, to ensure these issues are resolved for your Fastbase system.
To effect the new GST rate, the following steps need to be done by a user with Fastbase security level 9 for Utilities. This can be done any time prior to 1 October.
1. Go into Utilities - Tax Codes - select the NZ GST tax code
2. In the next unused Start Date field, enter 01/10/2010
3. In the Tax Rate field, enter 15.00
4. Click on Save
5. Restart Fastbase
This will put into effect the new tax rate for all taxable transactions dated 1 October 2010 or later. Transactions dated before 1 October 2010 will still be subject to the old rate of 12.5%. This sounds simple, however you should be aware of special considerations for transactions that span the cutover date.
If you are on GST invoice basis, invoices dated 30 September with receipts/payments on or after 1 October will be subject to 12.5% (ie. the invoice date applies). If you are on the GST cash basis, invoices dated 30 September with receipts/payments on or after 1 October will be subject to 15% (ie. the receipt/payment date applies).
For customer (AR) credits, Fastbase will use the GST rate based on the original invoice date. Unless there are unusual circumstances, you should not need to do anything special for customer credits.
However for supplier (AP) credits, Fastbase does not apply the AP credit to the original AP invoice (if any). Fastbase uses the GST rate based on the credit date.
If you create an AP credit after 1 October, and you want to use the old GST rate, you will need to change the credit date to a date prior to 1 October. For example, you are doing an AP credit on 1 October applicable to a 30 September purchase. Create the credit; the default date for the credit (in the header) is today's date, 01/10/2010. Change this date to 30/09/2010. The 12.5% GST rate will apply.
For AR journals, Fastbase will use the GST rate based on the journal date. If you want to use the old GST rate (because the journal relates to transactions prior to 1 October) you should set the journal date prior to 1 October.
For goods credits, Fastbase will apply the GST rate based on the credit date. Treat in the same manner as AP credits, ie. date the goods credit prior to 1 October if required.
The GST report will use the correct GST rate depending on whether the report is for a period either prior to or after 1 October. Note that GST reports should not be run for a period spanning the cutover, e.g. September through October. If you need a GST report spanning the cutover you will need to run separate reports and consolidate them manually.
You may want to leave the September period open for longer than usual, to facilitate creation of AP credits, goods credits or journals dated prior to 1 October.
For the first month or two after 1 October we recommend you pay close attention to your printed stationary items, ie. Invoice, Purchase Order, Customer Quote, Customer Order, Packing Slip, Customer Credit, Supplier Credit etc. Before sending documents to customers, please check if the GST amount on the printout is correct.
If you have any questions or need help with any of this please call us.
Customer statements in CSV formatWe have had a few enquiries recently about sending customer statements in CSV format. There is an existing Fastbase feature for this. On the Customer Maintenance - Preferences tab, one of the Print Statement options is "Yes, Email CSV". If you select this, when you print customer statements (via Processing - Print Customer Statements) the statement will be sent to the customer in CSV format. Contact us if you want more specific information. This feature is enabled by a setup option - you won't see the "yes, Email CSV" option unless the setup option is enabled. Contact us if you want it enabled.
Single invoice per orderWhen you make a new customer order, there is an existing option "Single invoice only ?" - if you select this, you can only make one invoice for the order. You can now control the default for this option on a per-customer basis.
We have added a new option, "Single Invoice per order? - Y/N" to the Customer Enquiry and Maintenance screens, on the Preferences tab. The default setting is "No", which means there is no change to the current Fastbase behaviour. If "Yes" is selected, when a new order is created, the "Single Invoice Only?" option will be set to "Yes".
Order number on Customer CreditsPreviously it was not possible to edit the Order Number field on Customer Credits. Also, the Order Number of the credit could only be viewed under Transaction Enquiry. We have also changed Fastbase so that the Order Number can be edited on the initial entry screen of a customer credit. The field is displayed on the Customer Credit entry screen and also the line item entry screen. This feature is enabled by a setup option, contact us if you are interested.
Select from the following list of newsletters that have been sent out.
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- 19/02/2013 Office News, Changes to Contacts, Emailing and printing an invoice when creating an invoice from a sales order, Copy Customer, Selected Operator for Quote Summary and Quote Expiry Reports
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- 15/02/2012 Office News, Photo indicator in Part Enquiry, Drag-and-Drop line items, Warning message for customers with active quotes
- 25/11/2011 Office News, Create a Quote from a Customers Discounts, Store Part information per Code, Store Image for each Customer
- 12/09/2011 Office News, Maximum Days Credit on the Customer Listing Report, Typing ahead, Long running searches, Subject in notes, Customer Notes and Alerts - Search, Supplier Payment Batches
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- 25/03/2011 Office news, Keyword Search, Report all accounts on GL Transaction listing, Additional Info on Suggested Purchase Order Report, Customer Credits on GST Report, Customer Sales Analysis by Gross Profit
- 02/12/2010 Office news, Stock Sales Analysis by Gross Profit
- 15/11/2010 Office news, GST rate change for NZ, New web server, websites and backup, Order Number in emailed invoices
- 28/09/2010 GST rate change - final reminder, Duplicate Bin Location Warning
- 20/08/2010 Office news, GST change on 1 October, Customer statements in CSV format, Single invoice per order, Order number on Customer Credits
- 18/06/2010 Office news, Copy purchase order line items from another order, Customer credit reference, Customer statements in CSV format, Import customers, Salesperson field on customer transactions, Customer Transactions Listing, Printing Credit Notes, Scheduled Price Updates, Serial and batch number checking in Fastbase, Stock Audit Report for a branch, Website product search, Check order number on invoice entry, Customer Sales Analysis Report, Maintaining customer receipts
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- 08/06/2009 Office news, Notes subject, Goods receipts and consignment branches, Website search, Barcode pack tab, Product listing report, Company logos
- 16/03/2009 Office news, Suggested Order Generation Report, Customer Sales Analysis Report, Printing Credits, GL Transaction Listing
- 17/02/2009 Office news, Invoicing Multiple Orders, Suggested Purchases Report, Supplier Rebates, Orders Taken Report, Web Display Maintenance
- 24/12/2008 Office news, Part price import, Red alert notes, Map button
- 04/12/2008 Office news, Customer Employee Count, Area search for customer search, Release Backorders, Supplied-only packing slips for release backorders, Financial reports
- 06/11/2008 Office news, Improved Account Search, Contacts Tab, Cancel button, Discounts on website orders, Branch transfer, Barcodes on stationary items, Stock Sales Analysis report, Customer Special Pricing
- 29/09/2008 Office news, Multiple companies with different balance currencies, Profit/Loss Report Structuring, Bank Reconciliation Batching, Financial Report Font, Delivery Method, Part Maintenance, Purchase Order
- 31/08/2008 Office news, Sales found for customers, Supplier transactions, Return reminders
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- 02/07/2008 Office news, Print Invoices & Credits, Customer Notes, Change Type Details, Maintain Goods Receipt
- 11/06/2008 Office news, Maintenance and Enquiry, Notes - Expiry Date, Emailing Notes, Invoice Register Report, Print Invoices and Credits, GST Adjustments, Fastbase Main Window, Printers
- 29/04/2008 Office news, Find product within a stock take, Product Enquiry - Delete, Hide Costs, Disabled Customers, Customer Order Status report, Print Customer Returns, Delete Customer Returns
- 03/04/2008 Office news, Generate customer returns, Sort sales order lines by part number, Search for customers, Batch and transaction dates
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- 13/09/2007 Emails, Stationary layouts, Deferred GST, Discounts by code
- 12/08/2007 Whereabouts, New developments
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- 23/02/2007 Customer Receipts, Releasing Backordered Goods, Viewing Lists - Sorting Columns
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- 04/08/2006 Sales Order Entry - Price History, Sales Order Entry - Default Quantities, Part Enquiry - Quoting a Customer, Customer Enquiry / Notes
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