Clients and suppliers with VAT on cash received

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With the system of the VAT on cash received, there is no provision for entering transactions on the clients/suppliers accounts, for the expenses and income are being entered at the moment the payment is made or received. Only at that moment, the VAT code is being entered. However, in spite of this rule, it is still possible to enter the issued and received invoices by using the cost centers.

Procedure:

  • Insert the clients' and suppliers' accounts as cost center CC3, defined with the semicolon in two different groupings, one for clients, another one for suppliers.

Entering the invoices of clients and suppliers

The issued and received invoices are only getting registered in the cost centers.

While being positioned in the Transactions table, Cost centers view:

  1. Enter the amount of the issued or received invoice in the Amount column
  2. Do not enter a debit or a credit account.
  3. Enter the cost center in the CC3 column: in positive when it concerns an issued invoice, preceded by the minus sign (in negative)  when it is a received invoice. 


Entering the payments made to the suppliers and the payments received from the clients

When the payment for an invoice is received or made, enter:

  1. The debit and the credit account
  2. The amount paid or received
  3. The VAT code for the purchase or sales operation
  4. Enter the cost center in the CC3 column, preceded by the minus sign (in negative)  when it is a payment received and in positive when it concerns a payment made to a supplier.

Please note that the VAT code should be entered in the VAT Code column in the Base or the Complete VAT view. 

In order to avoid having to move from one view to another, the CC3 column can be displayed in the Base view.

In the Account card of the cost center, the transactions of the client or the supplier are being displayed.

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