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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.
- Click Tools then click Activation and click Enable OSS/IOSS reporting.
- Click Next and select the nominal codes to use for the VAT liability control accounts for each scheme.
By default nominal codes 2205 - 2207 are used, if these codes are already in use, three other codes within Current Liabilities are used.
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
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.
- 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.
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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