Setting Up Country Records
Country Records must be set up if you need to produce EC reports but can be set up for both EU States and for Non-EU States.
EU States require additional details to be set up so that the reports required by the EC can be produced.
Country Records are linked to Trading Currencies by the selection of a Currency Symbol.
You may set up more than one record for a Country; each linked to a different Currency. This will enable you to trade in multiple Currencies in that Country.
A Trading Currency must exist before you can enter a Country using that Currency.
If you attempt to set up a Country e.g. USA using the Symbol US$, before the Trading Currency US$ has been set up, a message will inform you that you will need to insert a new Trading Currency record to create a new symbol.
When setting up a Country Record, the following steps are required:
Click on Insert.
Pull down the Country Type menu, and select either EU State or Non-EU State.
If EU State is selected:
A list of existing EU State Countries is displayed along with the option <New/Add>.
Select a Country from the list or allow the list to default to <New/Add> and enter the details of the EU State Country you wish to add.
If a Country is selected from the list, the Country Code and Name will be entered for you.
If you select <New/Add> you will need to enter a Country Code and Name.
You should now select the currency Symbol of the currency that you want to use.
Will display a list of existing Trading Currencies from which to select.
You do not have to select a Trading Currency symbol.
If you wish to trade with this Country in more than one Currency, you must create additional records for the same Country and link these to the other Trading Currency records by the selection of the Currency Symbol.
You will need to give the additional Country records different codes; it is suggested that you add a suffix to the Country Code, e.g. DK01, DK02, DK03 etc.
You may enter the Tax Name as a memo item.
You should enter Tax Rep. VAT No., and Branch ID. This is essential if you have a Tax Representative (Fiscal Agent) in this Country. If this information is not supplied, the system will not allow the use of the Type ‘T’ VAT Rate, and you will be unable to Zero Rate the supply of goods to Customers in this Country.
You may either enter the Intrastat Defaults now, or they can be entered later, or they can be left blank, which will force their selection for every Record and Transaction.
If Non EU State is selected:
Enter the Country Code, this must be unique, and the Country Name.
You should now select the currency Symbol of the currency that you want to use.
Will display a list of existing Trading Currencies from which to select.
You do not have to select a Trading Currency symbol.