Sage 300

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UK MTD for AP invoices posted in currencies except GBP

Posted By Marios over 1 year ago

HI,

I am setting up a UK company that needs to submit VAT MTD returns. Does the Sage 300 MTD module that comes with v2022 work with other currencies besides GBP? I am posting some AP EUR invoices and it seems that the VAT Return icon reports these as EUR amounts and not exchange rated to GBP.

Thanks

Marios

Stephen Bagnall over 1 year ago

Yes it does work fine if configured correctly. Have you set the Tax Authority reporting currency to GBP?
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Marios over 1 year ago in reply to Stephen Bagnall

Hi Steve,

I have configured Reporting currency to EUR actually to avoid getting that warning message every time a transaction is entered. I thought by configuring to GL account then it would pick the functional amount (GBP).

I am happy to configure the reporting currency to GBP if there is a way around that annoying warning.

Marios
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Stephen Bagnall over 1 year ago in reply to Marios

There is no way around that warning as far as I'm aware. I think it's live with the annoyance or live without MTD.
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Sage 300

UK MTD for AP invoices posted in currencies except GBP

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