Neste artigo
The Banana Accounting procedure for VAT management requires entering the VAT code on the same line where the revenue is recorded.
Revenues are recognized only when the invoice is actually paid, recording transactions at the time of collection.
It is necessary to set up the customer subledger in the accounts table using the Profit Center CC3.
When subject to VAT under the Balance Rate or Flat Rate method, invoices issued to customers must be created using normal VAT rates (e.g., 8.1%). This creates the issue of how to generate and account for invoices with two different VAT rates.
The invoice sent to the customer must include a normal VAT rate (e.g., 8.1%).
The accounting entry of the invoice must be recorded with the balance VAT rate (e.g., 6.2%).
Therefore, the issuance of the invoice must be separated from its accounting entry.
- The invoice to be sent to the customer must include a normal VAT rate (e.g., 8.1%).
- The accounting entry of the invoice must be recorded with the balance VAT rate (e.g., 6.2%).
Therefore, the issuance of the invoice must be separated from its accounting entry.
Issuing an invoice with normal VAT rates
To issue an invoice to customers with the normal VAT rate (e.g., 8.1%), it is necessary to create a customer sub-account in the Accounts table with the profit center CC3 (e.g., 10001 for customer XX), and complete all the customer information in the Address view columns.
In the Transactions table, create the invoice:
- Enter the date and description in the corresponding columns.
- In the Amount column, enter the amount.
- The Debit and Credit columns should remain empty.
- In the VAT Code column, type the code V81 in square brackets [V81].
VAT codes in square brackets do not trigger any VAT accounting. - In the CC3 column, indicate the profit center number without semicolon (e.g., 10001).
Since there are no accounts in the Debit and Credit columns, the invoice creation entry will not be recorded in the accounting.
Recording the invoice with net VAT rate
When recording the invoice in accounting, to record it with the net VAT rate, the transaction needs to be created normally, including the accounts in the Debit and Credit columns, and the VAT code corresponding to the balance VAT rate percentage:
- If the breakdown entry system is used, enter the VAT code for the net VAT percentage (e.g., V62).
- If the non-breakdown entry system is used, enter the VAT code without the rate (e.g., F1).
More information is available on the following web page: