Contractor Invoiced VAT/GST Report

Description

A new report called Contractor Invoiced VAT/GST is now available in Reports > FT Standard Reports > Payroll to report on VAT that has been calculated as part of the proforma remittance generation process for VAT registered contractors.

The report can be filtered by the following criteria:

• Country

• Brand

• Region

• Office

• Pay Company

• Employment Type

• Invoice Date From

• Invoice Date To

The report displays the following information:

• Payroll country

• Pay company

• Brand

• Region

• Office

• Invoiced Date (i.e. date on which proforma remittance was created)

• Pay Period End Date

• Item (Wages or Reimbursement)

• Amount

• VAT/GST

• Total

The report only includes data linked to payees who are VAT registered contractors, where VAT has been calculated as part of the proforma remittance generation process prior to the contractor being paid in a pay batch.

Benefits

This enhancement compliments the enhancements made in this release to support the ability to calculate VAT on contractors' earnings at the point of generating proforma remittance documents on release of interpreted timesheets from the Interpreter for payroll processing. In order for a pay company to claim the VAT that is calculated by this process, the pay company must be able to record the VAT amounts in their finance system and this report allows the relevant amounts to be identified and manually journalled in the finance system accordingly.

Configuration

No configuration required.