Duty Deferment Adjustments
This facility moves a transaction from cash payment for duty (production of W5) to the Warehouse Keepers' deferment (production of a W5D) and MUST be carried out before you run the end of day processes.
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You must ensure you make these changes prior to performing the Day end process, it is not recoverable if you do not update the transactions prior to running the day end. |
Also note that the Sales Order has to have been despatched before the transactions will show within this screen.
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Introduction:
The Duty Deferments Adjustments functionality is for:
Instances where you are offering your customers the option of Cash Deferments (the ability for them to charge Duty without needing to have their own official Deferment Account).
When a customer charges Duty to their account, cash customers would normally generate a W5, so payment can be made by cash for the Duty, however, this facility gives you the ability to move those W5 onto the Warehouse Keepers Deferment Account.
it fits in to the routine as follows:
CFSP Data Interchange run first to submit customs duty payments*
Duty Deferment Adjustments (this article).
Then Day End Processing which prepares the excise duty payments information for HMRC.
ATWD Data Interchange then submits the excise duty payments to HMRC.
*If you are a customs warehouse and your system is configured to demand the HMRC customs duty value instead of the VW calculated value, then CFSP should be run first, otherwise, you can skip straight to step 2.
Transactions Recorded Sections
These two sections show the same details but one is filtered to show the Cash Deferments and the other Transactions against the Warehouse Keeper’s deferment accounts and they both have the same buttons (so we are only showing the screenshot once).
The VAT Rate shown is the rate at the time the current transaction was processed.
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The information in the Duty Deferment Adjustments window will be cleared when the Day End Processing is run. |