If you’re not a UK user, don’t leave! I’ve listed a couple of other updates at the bottom of the post that may be of interest to you.
For the rest of you, below is a quick overview of what we’ve done (and what’s still to come).
There are three primary features of the EC Sales List:
EC Sales List – the main report itself, including custom validation to ensure the necessary information is present and in the correct format to be submitted to HMRC Online Services.
Audit report – an accompanying report that lists all the transactions that make up the main report.
HMRC export – as well as standard export formats for PDF, Excel and Google Sheets, there is a custom HMRC format that can be easily submitted via the HMRC portal.
EC Sales List
The main report looks as you’d expect – for each contact, we provide the total amount of EC sales split by goods and services. The transactions that appear are determined by the use of the tax types EC Sales Goods or EC Sales Services. These are generally linked to the tax rates you use for EC Sales such as Zero rated EC Goods Income or Zero rated EC Services.
You can run the report for any period and for convenience we have added date selection options for this month, last month, this quarter, last quarter or a financial year.
We’ve also tightened up the way VAT numbers are recorded against your contact records. For EC Sales reporting, all VAT numbers must include a two character country prefix. If you haven’t entered the prefix or have included an invalid VAT number, we’ll warn you (in red on the EC Sales List report) and you can drill through to the contact record to update.
The audit report contains the full list of all the individual transactions that were used to derive to totals on the main report. This is great for tracking down miscoded transactions and confirming the results.
And finally, once you’re happy with the numbers, you can export the report to a format that can be easily uploaded to the HMRC.
What’s left to do?
In a future release, you’ll be able to save and publish the report. This work is being completed as part of a wider re-write of all our reports, the first of which should be out over the next few months.
We’ve also got a few other UK VAT related updates to work on – top of the list is a better way to handle VAT Reverse Charges and EC Acquisitions. We’ll let you know when these are on their way.
What else has been released?
We’ve included a couple of smaller updates:
Including files with online invoices – when you attach files to invoices, you can optionally flag which files should also be made available, via a link, on the invoice when viewed online.
- Attaching files to pay runs and payslips (note this has not yet been included in Payroll)
Embedding your profile into your own website – grab the HTML snippet from your profile page and copy it into your blog or website.
Editing invoice themes on paid invoices – we have had a few requests on Xero Community and elsewhere to let you change the invoice theme on paid invoices…and now you can!
As always, full details on these and other features can be found in our release notes.