Intrastat

 

Overview

This is functionally similar to the VAT Return, in that it's reporting on historical transactions for a particular period, and transactions added after the report is generated should appear on the next report run.  Most small companies have no obligation to file Intrastat returns.  It is required only when EU imports exceed €191,000 or EU exports exceed €635,000 annually (UK thresholds: £1,200,000 imports, £24,000,000 exports).

Accessing Intrastat

To access the IntraStat, select Accounts» General Ledger» InstraStat, the following screen will appear.

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The report is to be filed monthly, so a single month (and year, e.g. "March 2014") selection is all that's required.

The report has two sections, EU Imports, and EU Exports.  It lists individual invoice lines (or one line for quick invoice).

The return is concerned with the movement of goods, so sales credit notes appear in the Imports section and purchase credit notes appear in the Exports section.

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The report displays the following columns:

  • Number: Invoice/Credit Note numbers are displayed. 
  • Description: Product code & description for full invoice lines, or the description on quick invoices are displayed here.
  • Member State: code and country of customer/supplier (e.g. "FR - France") are displayed in this column.
  • Invoice Value: Net value, rounded to the nearest Euro (or Pound).  Zeroes & negatives are not allowed.

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