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Enable OSS/IOSS reporting

Created on  | Last modified on 

Summary

With Sage 50cloud Accounts v27.2 and above, you can enable OSS/IOSS reporting to help you deal with sales to consumers in EU countries under the One Stop Shop and Import One Stop Shop schemes.

Resolution

Install the latest version of Sage 50cloud Accounts

OSS/IOSS reporting is available in Sage 50cloud Accounts v27.2 and above.

NOTE: If you're using an earlier version, please install the latest version now > 


Enable OSS/IOSS reporting


TIP: To check if OSS/IOSS reporting is already enabled click Help then click About. Read more >

When you enable the OSS/IOSS reporting option, as well as activating the feature, you're also prompted to select the nominal codes to record and report on VAT collected on these sales.

  1. Click Tools then click Activation and click Enable OSS/IOSS reporting.
  2. Click Next and select the nominal codes to use for the VAT liability control accounts for each scheme.
    Scheme Nominal code Description
    Union OSS 2205 Union OSS Tax Control Account
    Non-union OSS 2206 Non-union OSS Tax Control Account
    IOSS 2207 IOSS Tax Control Account
    By default nominal codes 2205 - 2207 are used, if these codes are already in use, three other codes within Current Liabilities are used.

    TIP: If required, you can amend these control accounts before posting transactions to them. To do this, in the main Sage 50cloud Accounts desktop, click Settings then click Control Accounts.

  3. Click Next then click Finish.

Great news! You've now enabled OSS/IOSS reporting. To confirm, click Help then click About and check under Features Enabled for OSS/IOSS reporting.


Next steps

Now you've enabled OSS/IOSS reporting, you need to create some new tax codes to use for the countries of the customers you trade with. Read more >


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