Your EC Sales List is a report detailing all VATable sales of certain goods and services made to EC Customers over a certain period. This article explains some basic settings and how to run the report within KashFlow. For more information on EC Sales Lists please click here for HMRC guidance on ESL.
Settings
Please note that you will need to be recorded as being VAT Registered with KashFlow to be able to run the EC Sales List report correctly. Enable this option by going to
Settings > Company Details > Tick the box by “My business is registered for VAT” > In the newly presented field enter your VAT Number > Update
There are two crucial settings that you should be aware of when recording EC Sales and running an EC Sales List. The first is setting the customer in another EC State, and the other is deciding if a select Sales Code should be included on the EC Sales List
- Customer – set if a customer is based in another EC Member State by
Customers > Selecting the Customer > Options > Tick the box for based in another EC member state > Update
- Sales codes to Include/Exclude – You must select which sales codes are used in the EC Sales list by deciding on a per-nominal basis to include them. Do this by first enabling the setting by
Settings > VAT Settings > Ticking the box for “Let me set, on a per-nominal basis, which codes should be treated as EC sales” > Update
- You can then specify to include/exclude by
Invoices > Sales Codes > Select the Sales Code > Select or de-select “Include on EC Sales List” box>
Running the Report
Access the EC Sales List by going to
Reports > Tax > EC Sales List
Use the following options to set the parameters of the report:
- Start Date / End Date – this is the date range of the report
- Bring forward older un-reconciled items – tick this box to include items from before the start date that have not previously been filed in an EC Sales List
When you are ready, click Run Report.
Important Notes
- EC Sales are reported by the calendar period, and done on an accrual basis.
- If your have indicated a customer is VAT registered in another EC State, then you should also have a record of their VAT number.
- You should record your EC Sales with the correct rate of VAT
Further Information:
- KF Knowledge Base: Recording EC Sales
- KF Knowledge Base: EC Sales List Period
- https://www.gov.uk/guidance/vat-how-to-report-your-eu-sales