VAT Updates have arrived for UK Users

Announcements
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Syncro is very proud to announce that we are changing the way VAT is calculated and how product prices are stored within Syncro for the UK.

Products will now be displayed as VAT Exclusive with VAT added to the subtotal of the Estimate or Invoice rather than being pre-calculated per line. Products will no longer be stored as VAT-Inclusive, which has led to confusion when using integrations like Xero or Pax8.

While this change is only live for UK customers, we do have plans to roll these changes out to other locations in the future.

Full details on what to expect, how the changes affect your organization, and what you need to do are all found in this knowledge base article: UK Migrate to VAT Tool

Overall things to know:

  • This will be an opt-in migration. You will not see any changes until you finalize the migration.

  • We highly recommend completing all pending Estimates or Invoices prior to starting this update. This is not required; however, it is strongly encouraged.

Please review the knowledge base article above if you’d like more details about this update. If you have additional questions, please contact our technical support department.

-Syncro

2 Likes
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This is a very welcome change and should make it much more straightforward.

Thank you.

1 Like
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I’m looking forward to seeing this rolled out to the Australasian region with GST exclusive pricing. Nice work team!

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The ‘strongly encouraged’ prereq for migrating to vat exclusive - how bad does it get if we ‘ignore’ this strong warning?

Why? Our business will never ever be in a position where all invoices are closed out/complete. With companies being on a mixture of net 7, 30 and some late 60 days - it’s impossible. Our accounts are synced with Xero - will that mess things up also?

Pending Invoice is more likely with some work as we try to close out pending invoices for month end.

Thanks!