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The HST may affect your Sage Accpac ERP system sooner than you think?

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I recently attended an HST seminar and found many surprising facts about the HST that I was not aware of, that will affect many of our clients accounting and ERP systems.

For transactions after May 1, 2010 that are paid or payable for goods or services received after July 1, 2010 HST must be recorded/tracked. This affects both the sales side and the purchases side of a transaction.

I was surprised to learn that many of our clients may have to have there Accpac systems configured by May 1, 2010 rather than by the HST transition date of July 1, 2010.

For businesses that sell to other provinces you must be aware of the HST regulations for those provinces. If your business sells to a customer in Ontario, for example, you must set up your Accpac system to charge the Ontario customer at a 13% combined rate for HST as opposed to a 12% combined rate for BC Customers. In the past with the PST system we relied on our customers to self assess. This is no longer the case.

Not for Profits, Charities and Municpalities must set up there system differently, as well, as they are only able to recieve 57% (Charities and NFPs) or 75% (Municipalities) on the HST they pay.

There are many implications to the HST for your business and your Sage Accpac ERP system that you need to be aware of. We will do our best to configure your Sage Accpac ERP system to your requirements but you must be aware of your requirements before we can do so.

Please see the following website for more information on how the HST affects your business.

http://www.gov.bc.ca/?WT.svl=bchome_image  

Plus Computer Solutions Ltd is planning a user group meeting in early April that will be announced shortly where we will discuss HST set up issues more specifically. We may plan other events based on demand as well.

I plan to submit another article tommorow based on information provided by the CGA that every business should consider so that they are best prepared for the HST.