Transactions with VAT breakdown

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This system is used when you want to have the immediate breakdown of VAT for each transaction in the Transactions table, .

It is important to know:

  • If this method is used, attention must be paid to the fact that the final VAT is calculated on the invoice amount already including VAT, therefore on the total turnover.
  • The VAT deduction that is made in the account will not be the same as the VAT amount invoiced to the customer. These situations can be confusing, so we recommend using this method only if you have a good understanding of VAT mechanisms.

How to proceed

Before proceeding with the processing of the VAT statement (facsimile and XML file) it is necessary to:

  • Check the Transfer to the 2018 VAT rates page.
  • In the VAT Codes table, enter your tax rates relating to codes F3, F4, FS3, FS4 (sample rates have been entered in the following window).
  • In the Transactions table, enter the transactions, indicating the code for the balance rate. The VAT balance percentage and the amount separated from the revenue account will appear.

VAT facsimile and XML file for forwarding to the FTA

At the end of the period, to process the VAT facsimile statement and the XML file to be forwarded to the FTA, use the  Swiss VAT: flat tax rate method extension.

Users who need old VAT reports for years prior to 2018 will be able to install the Swiss VAT report net / flat rate method (years prior to 2018) extension. However, with the specified extension it is possible to generate only the facsimile VAT return and not the XML file for electronic forwarding.

Extensions are installed via the Extensions → Manage Extensions menu.

VAT codes for the net rate (figures 321, 331 up to 2017, 322, 332 from 2018)

As per 01.01.2018, the VAT codes for the balance rate are indicated with F3, F4 and FS3, FS4 those relating to discounts.
For the year 2017, the existing ones will remain valid. These codes can also be renamed.

Important: by default the value "YES" must appear in the "% VAT on Gross" column (otherwise it must be added; as shown in the following screen).
codici IVA aliquota saldo con scorporoSee the information below for more details.

Registration with VAT breakdown

Figures 321, 331 up to 2017, 322, 332 from 2018

When posting, the program breaks down the related VAT amount for each individual posting and posts it to the tax return account.

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VAT payment at the end of the period

At the end of the period, after calculating the VAT to be paid, a transaction must be made to transfer the balance from the VAT account to the VAT account to be paid.
The VAT return account, after transaction, will have zero balance.

When the VAT is paid, the payable VAT account will be posted on the debit side and a liquidity account will be posted on the credit side.

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