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In Banana Accounting it is possible to manage customers/suppliers using both the turnover and the cash received method. However, as far as invoice printing is concerned, there are some limitations if in accounting you record the amounts net and at the same time use the cash received method.
If we want to create invoices, it is not possible to enter amounts net of VAT with the method on the cash received because, when the invoice is issued, the VAT codes must be written between square brackets and the VAT is not calculated but is only an indication for the printing of the document.
Management based on turnover
| ||
Gross Amount | Net amount | |
Effective VAT method | ✓ | ✓ |
VAT Flat tax rate method | ✓ | ✗ |
Management based on cash received
More details can be found at the following page : https://www.banana.ch/doc10/en/node/9739 | ||
Gross Amount | Net amount | |
Effective VAT method | ✓ | ✗ |
VAT Flat tax rate method | ✓ | ✗ |
Examples with transactions to create invoices and enter them into the accounting for both the effective VAT method and the VAT Flat tax rate method: