VAT rate corrections

VAT rate correction allows for correcting VAT rate for the following documents:

  • sales invoice
  • receipt
  • SO release

There is also a possibility to issue a manual VAT rate correction to receipts and sales invoices.

In order to issue a VAT rate correction, it is necessary to mark a relevant document on the list and click on button [Correct VAT Rate], which opens correction form with the filled in data, is similar to the source document form. The following fields are editable:

  • document date
  • field with the reason for correction
  • reference number
  • payment method
  • due date
  • field Handled By
  • reason for VAT exemption
  • delivery method
  • reference number
  • center issuing the document
  • customers ‘/vendors ‘addresses
  • description
  • VAT account
  • attributes
  • analytical description
  • VAT rate on a given item

The other fields must be consistent with the source document; therefore, they are inactive.

A user can change VAT rate from the level of:

  • items list – to do so, in column VAT Rate After Correction, it is necessary to expand the list and select appropriate VAT rate
  • item details – do to so, it is necessary to edit an item and in section Calculation – After Correction, in the field with VAT rate, indicate a correct value

Note
It is not possible to correct VAT rate on document items, for which reverse charge option has been selected.

Note
A list of VAT rates available for change on a correction is retrieved from the group of VAT rates.

Form of item details allows for editing VAT rate in the section Calculation – After Correction. Changing the value of this field causes an automatic recalculation of subtotal or total value and of correction value.

In case VAT rate correction document is issued:

  • on total – a correction subtotal value is calculated
  • on subtotal – a correction total value is calculated

Note
Each subsequent correction issued to one document takes into account the quantities and prices/values changed (decreased or increased) with previous correcting documents.

Example

  • SOR/2018/00001 is issued for 1 pc of item TSD amounting to a subtotal value of 1,24 USD and 23% VAT rate
  • SOR/2018/00002 is issued for 1 pc of item TSD amounting to a subtotal value of 1,24 USD and 20% VAT
  • One invoice is generated from the warehouse documents
  • A VAT rate correction is then generated to the SI. The VAT rate is changed from 23% to 8%, thus total value of the document is reduced by 0,37 USD
  • The correction is next confirmed
  • In the effect, the following two VAT rate corrections were created automatically to documents: SOR/2018/00001 and SOR/2018/00002:
  • SORTC/2018/00001 amounting to a total value of -0,19 USD
  • SORTC/2018/00002 amounting to a total value of -0,19 USD

A VAT table contains two records: the first one is retrieved from the source document and the second record applies to the modified VAT rate.

VAT table in a VAT Correction document

A VAT rate correction can be issued:

  • to a confirmed SI/R/SOR document
  • to a trade document from which one warehouse document has been generated
  • when the associated document has been confirmed/posted
  • only to a trade document if it is associated with a warehouse document
  • when all the corrections, that are associated with the source document, have been confirmed

A VAT rate correction can be confirmed only when all the items, aggregated in a warehouse document into one item, have been corrected in the invoice.

Example

  • A SI is issued for two of the same item TSD, in the same quantity of 1 pc and in the same price of 5 USD
  • The document is confirmed
  • A SOR document is generated to the SI automatically; the items in the warehouse document are aggregated to one item
  • A VAT rate correction is then generated, in which only one of the items is corrected
  • When attempting to confirm the correction, the system displays a message informing that it is impossible to confirm it, because not all the items, aggregated into one item in the warehouse document, have been corrected
  • Then, the second item is corrected, where VAT rate is changed to the same rate as on the first item
  • The SI document is confirmed
  • A VAT correction (SORTC) is generated automatically to the warehouse document for all items

Confirmation of VAT rate correction generates the following:

  • a relevant warehouse document (if the source document is associated with a warehouse document)
  • VAT invoice correction
  • Payment (if VAT direction is set in a document to: From subtotal)

Note
If invoice items are in a warehouse document aggregated into one item, then the same VAT rate must be set for all the aggregated items when generating a VAT rate correction to the SI. Otherwise, it will not be possible to confirm SITC/RTC.

Cancellation of VAT rate correction (SITC, RTC) cancels automatically a warehouse document and its correction from the level of VAT accounts.

 

Czy ten artykuł był pomocny?

Wyślij opnie