Difference between revisions of "How do I Create a V.A.T. Only Transaction?"
From Catalyst
(→See also) |
Katy Kitchen (talk | contribs) |
||
Line 1: | Line 1: | ||
+ | {{Review}} | ||
== Summary == | == Summary == | ||
The following article outlines how to reverse the V.A.T. portion of an invoice. | The following article outlines how to reverse the V.A.T. portion of an invoice. | ||
Line 10: | Line 11: | ||
Go to {{Menu|Systems\Accounts|{{SL}}|Invoice/Credit Notes}}. | Go to {{Menu|Systems\Accounts|{{SL}}|Invoice/Credit Notes}}. | ||
− | * | + | * Choose {{DataValue|Credit Note}} from the {{DataPrompt|Doc Type:}} drop down menu. |
− | * | + | * The {{DataPrompt|Date}} will default to your System Date, change this if necessary. |
− | * Enter the | + | * Enter the appropriate Customer Account or press {{KeyPress|C+F1}} to [[How do I Find a Customer?|search]] for an account code. |
− | |||
− | |||
− | {{ | + | {{Note|text=The {{Tab|Document to Credit Selection}} box will pop up if there are outstanding invoices on the Customer's Account. To link this credit to a specific invoice, click on that invoice in the list and click {{Button|Choose}}. Alternatively choose {{DataValue|Unallocated}} to post an unallocated credit.}} |
− | * | + | * The {{DataPrompt|Doc No.}} will be filled in for you with either the number of the invoice you have selected or a new Credit Note number. |
− | * In {{DataPrompt|Product Description:}} enter a more detailed description that includes the original invoice | + | * Enter the sales centre of the original posting on the {{DataPrompt|Def. Centre}} field. To search for a centre press {{KeyPress|C+F1}}. |
− | + | * Enter a relevant comment e.g. {{DataValue|V.A.T. Reversal}} | |
− | + | * Click {{Button|Next}} to move onto the {{Tab|Text}} tab. | |
− | + | * In {{DataPrompt|Product Description:}} enter a more detailed description that includes the original invoice number e.g. {{DataValue|To reverse V.A.T. element of Invoice No. 12345.}} | |
− | * | + | * Click {{Button|Next}} to move onto the {{Tab|Summary}} tab. |
− | + | * Click into the relevant V.A.T. Rate box e.g. into {{DataValue|Std Rate}} and enter the amount of V.A.T. you are crediting - this should be entered as a Positive amount. | |
− | * | + | * Click {{Button|Print}} to print the credit. |
− | * | + | * You will be warned the V.A.T. is outside the normal limits, click {{Button|Continue}} to proceed. |
* Click {{Button|Accept}} to complete the posting. | * Click {{Button|Accept}} to complete the posting. | ||
Revision as of 09:06, 5 August 2015
![]() |
This article or section is under review. Be aware: Content may change as the document is reviewed. |
Summary
The following article outlines how to reverse the V.A.T. portion of an invoice.
More Information
This is useful in cases where a account has been invoiced with V.A.T. by mistake
![]() | An item was exported but charged inclusive of V.A.T. or an internal account has been invoiced with V.A.T. |
This reversal is done through the Sales Ledger as follows: -
Go to " Systems\Accounts Sales Ledger Invoice/Credit Notes".
- Choose 'Credit Note' from the "Doc Type:" drop down menu.
- The "Date" will default to your System Date, change this if necessary.
- Enter the appropriate Customer Account or press <C+F1> to search for an account code.
![]() | The [Document to Credit Selection] box will pop up if there are outstanding invoices on the Customer's Account. To link this credit to a specific invoice, click on that invoice in the list and click [Choose]. Alternatively choose 'Unallocated' to post an unallocated credit. |
- The "Doc No." will be filled in for you with either the number of the invoice you have selected or a new Credit Note number.
- Enter the sales centre of the original posting on the "Def. Centre" field. To search for a centre press <C+F1>.
- Enter a relevant comment e.g. 'V.A.T. Reversal'
- Click [Next] to move onto the [Text] tab.
- In "Product Description:" enter a more detailed description that includes the original invoice number e.g. 'To reverse V.A.T. element of Invoice No. 12345.'
- Click [Next] to move onto the [Summary] tab.
- Click into the relevant V.A.T. Rate box e.g. into 'Std Rate' and enter the amount of V.A.T. you are crediting - this should be entered as a Positive amount.
- Click [Print] to print the credit.
- You will be warned the V.A.T. is outside the normal limits, click [Continue] to proceed.
- Click [Accept] to complete the posting.
See also
- Creating a New Customer/Supplier
- How do I Account for Vat on Vehicle Deposits?
- How do I make a Customer Exempt of VAT?
- How do I Produce a Non-VAT Invoice for a Customer?
- How do I Run the VAT 100 Report?
- How do I Roll Back my VAT Period?