Within Rezlynx there will be a new 12.5% tax rule and 2.5% tax rule for the changes set out by the government. The tax changes impact accommodation, food and non-alcoholic drinks. Also, long stay accommodation over 28 days will change to 2.5%. With this in mind, there are certain steps required to ensure your financial export is correctly configured for the new tax rule change.
The following can only be completed when the new tax rule has been assigned to an analysis code in Rezlynx.
Overview of areas to change
Rezlynx – Financial Report Export
Financial Export – Configuration – Tax Rules
Financial Export – Configuration – Analysis Code (If new codes are added to Rezlynx)
Financial Export – Configuration – Advance Setup (Zonal 2-way only)
Configuring Rezlynx Financial Report Export
Login To Rezlynx
Ensure at least one analysis code within rezlynx has been set up with the 12.5% and 2.5% tax rules.
Navigate to the Financial Report Export within rezlynx
Click load, from the dialogue box, choose the report and click load.
Important – IF you have more than 1 report appear in the list, the only way to find out which report the financial export uses is to go into the financial export application and check, please see this guide
Navigate to the Tax analysis area, if any tax codes are ticked you will need to tick the new tax rules as per how the other tax rules are ticked (Gross Total/Nett Total /Tax Total).
**If there are no tax rules ticked, your export does not include the tax analysis and you do not need to make any changes to this report. You can now skip to page 6 to check your analysis code config.**
After ticking the tax rules, save the report, please name it the same as the report name you loaded.
Important –if you loaded the report named SAGEEXPORT (as an example), it needs to be saved as SAGEEXPORT as the name of the report is linked to the financial export application. This will overwrite the existing SAGEEXPORT document with your changes.
Configure The Financial Export Application For New Tax Rules
Now that rezlynx has been configured, the tax rules can be checked on the financial export application.
Please note that the analysis codes in relzynx needs to be updated with the new tax rules first before you see the tax rules appear in the financial export report application.
Open the financial export application (there should be a desktop shortcut, sometimes located on an accounts machine)
On the main screen, you will see the Sage Codes/ Tax Conversions area. Enter the export tax code and nominal code, click save:
Check Your Analysis Codes Have Correctly Updated Within The Financial Export Application
Whilst you have the financial export application open, you can perform a quick check to ensure the changes made at rezlynx where the VAT rule has been updated in the financial export application.
Note that the tax rule MUST be changed in rezlynx first before you check the financial export.
Open the financial export, click configure.
Navigate to the analysis codes setup, in here you will see that the analysis code has been changed from VAT_5 to VAT_12_5, depending on which codes were changed in rezlynx.
How To Check The Financial Export To See Which Rezlynx Financial Report Is In Use
You may find more than 1 report appear in the drop down within rezlynx, for the financial export report.
Below explains the process to find which report it uses:
Open the financial export application, click configure
Navigate to Advance Setup.
The report name will be shown as highlighted below:
What If The Analysis Code Tax Rule Has Not Changed In The Financial Export Tool
If when looking in the financial export, you find the analysis code tax rule has been changed in rezlynx, but still shows the incorrect tax rule in the financial export you can do the following:
- Restart the financial export – if the financial export is left open whilst the changes were made in rezlynx, it will not poll the changes until the financial export has been restarted.
- Run sync all sites within the financial export tool – Older version of the financial export will not automatically poll analysis code changes. If you find a restart of the financial export has not resolved the issue, you can use sync all sites which should update the analysis codes:
Sites Using Zonal 2-way Integration and Have Added New Analysis Codes
If you have not added any new analysis codes to rezlynx to cater for the tax change you do not need to follow this step.
If you have added new analysis codes, you may also need to configure one other area of the financial export if you have the zonal 2-way integration. This will be indicated on the output format within the configuration page:
We set certain analysis codes to be included in the ROOM_EPOSTRANS figure (Revenue posted to room from zonal) figure.
This figure is to allow zonal to understand what revenue has been posted to rooms, from zonal, so that the 7-day statement of trade doesn’t duplicate revenue from their system and ours. If the new code you have added needs to be included in this figure then you need to tick it within the advanced setup area then click save: