Viewing reverse charges on manual vouchers and VAT reporting

Prerequisites:

  1. On the A/P Vouchers and Adjustments form, create a new voucher:
    1. Select a vendor.
    2. Specify the voucher amount.
    3. Assign the exempt tax code, for example EUPE.
  2. Click Distributions and manually enter these distributions:
    • Purchase expense
    • Purchase VAT: Select Tax System 1, Tax Code EUIMP, and Exempt Tax Code EUPE. Specify a Tax Basis (for example 100) and a Tax Amount (for example 25).
    • Sales VAT: Select Tax System 1, Tax Code EUIMP, and Exempt Tax Code EUPE. Specify a Tax Basis (for example 100) and a negative Tax Amount (for example - 25).
    • Enter your Acquisition VAT Acct in the Account field.
  3. Post the voucher in the A/P Voucher Posting form.
  4. On the VAT Report form, sort by category and preview the report.
    This allows you to see the transactions where the tax code has the Reverse Charge category.
  5. On the VAT Report form, sort by line number and print the report.
    This generates a list of the VAT transactions for a line number (box).