Additional checks to ensure all VAT and currency settings are valid
From Troika release 2.08.021 onwards, additional warnings and checks are in place to ensure all VAT settings are enabled on each time & fees activity, where required. The following notes should be used as a guide to reviewing your current Time& Billing tariffs and activity settings once the update to Troika 2.08.021 has been applied to your system.
An additional report and export to MS Excel is available on the Time & Billing reports menu option called ‘Client Time Settings’. Either preview, print or export the report to Excel to review the following settings for every client:-
- Client File Name
- Client Ref
- Client Time Status
- Default Tariff
- Take on date (optional)
- VAT charged
- Discount/discount rate (optional)
- Jurisdiction
- Control levels 1-4
Please review the report and ensure the ‘VAT charged on activities’ flag is set on each client according to your requirements, and also the appropriate tariff. If no tariff is selected for each client, when posting WIP transactions and timesheets, no default tariff will be presented to the user, and they must make a selection manually.
An additional ‘Default Tariff’ setting has been added to the Time Settings menu. This only applies to new clients added to Troika, where a default tariff can be applied automatically. Leave this blank if you require the tariff to be selected manually by users posting WIP or timesheet entries, for newly added clients.
When users post work in progress transactions via the ‘Manual Time Entry’ (timesheet) option, when selecting an activity, the screen will show additional information to show what VAT will be charged at the point of billing the selected activity. The display of the VAT will depend on the VAT rate assigned to the selected activity, and the VAT setting for the selected client.
For example, when billing:-
| Client Setting / Activity setting | Activity VAT Rate not set or zero | Activity VAT rate applied |
| VAT charged on activities - Checked | No VAT applied to this activity | VAT applied to this activity |
| VAT charged on activities - Unchecked | No VAT applied to the whole invoice | No VAT applied to the whole invoice |
When posting work in progress, the following additional information will be displayed after selecting a client and activity:-
Please review the currency and default VAT rate (even if no VAT or zero VAT) for all activities via the menu option ‘Tariffs and Activities – Edit’ to ensure valid selections are made. For example:-
You will no longer be able to leave this screen, until all the settings are in place for all activities. A message will be displayed if any activities are missing a VAT rate. Additional VAT rates can be created and existing rates amended via the VAT rate menu option in Troika Utilities.
NB You must review the VAT rates and currencies for all staff levels available in the drop down box; time and fee activities are common across all staff levels.