There is less than a month to go until the end of the Brexit transition period and there will be new rules to follow from 1st January 2021 onwards.

To avoid any interruptions to your operations, we encourage you to ACT NOW to ensure your business is fully prepared for Brexit by following the government guidelines to determine what processes your business needs to implement.

Part of this may mean investigating if your Sage software needs to be updated to facilitate the changes in legislation.

VAT domestic reverse charge

What does this mean for business?

Brexit is going to impact all businesses who trade with companies both inside and outside of the EU. There will be special provisions that only apply in Northern Ireland so if you move goods into, out of, or through NI, make sure to check the latest guidance that is specific to your business at: gov.uk/northern-ireland-trade

Other areas to be impacted include transport & logistics, state aid, product safety or eco-compliance, copyright, trademarks & patents, environmental industrial standards, and the transfer of personal data between the EU and UK.

What changes you may need to consider in your Sage Software?

  • The commodity code and country of origin fields will need to be populated in your stock module.
  • EORI number (Economic Operators Registration and Identification number) will need to be added to all customer and suppliers.
  • Document Layouts will need to be amended to allow for the above as well as specific information required for Irish exports.
  • VAT codes will need to be updated within the Sales and Purchase ledger and within Sales and Purchase order processing for live orders

What are the next steps?

  1. Find out how your business will be impacted by Brexit – https://www.gov.uk/transition
  2. If you need to act, contact Acorn BMS on 02879644975 to book in a date for your Sage 200 upgrade

If you’re a Sage 50 or Sage 200 user, give us a call on 02879644975 or message info@acornitsolutions.com for more information