Sales book for VAT reporting

Requirement

In many countries, a report with all the customer invoices listed during a period is required. The turnover and the VAT amount per VAT percentage must be specified.

In this country, because of the high demand, each company must produce a sales book.

Example of layout required in Vietnam for sales book

M3 solution

This report is produced using the M3 Ad Hoc Reporting tool from the AHR module and Excel in M3. See Configuring information before importing M3 Ad Hoc Reporting templates and Configuration guidelines for ‘Tax Reporting. Open Report Fields’ (TXS035).

Configuration guidelines

Program ID Program name Description or comment
TXS004 VAT Report Template. Connect User Defined Report (UDR) Template Specify the detailed information to be included in the M3 electronic VAT reporting tables.
TXS005 VAT Report Template. Open Define the template header for customer sales VAT reporting, for example, CVVN1.
TXS006 VAT Report Template. Connect Columns Define these three columns for VAT and sales amounts:
  • Net
  • VAT
  • Gross

For each column, the recorded amount in local currency is used and the net value is displayed.

If required, for the TXS107PF and TXS110PF reports, the reverse sign rule can be switched on.

Connect each column to VAT rules using (TXS007).
TXS007 VAT Report Template. Connect Columns Select

Define VAT account type rules for the three columns defined in (TXS006):

  • For the Net column, VAT A/C type 3 to 9
  • For the VAT column, VAT A/C type 1 to 2
  • For the Gross column, VAT A/C type 1 to 9

All VAT codes (from/to) must be selected in the column definition connections.

These column rules are used in conjunction with the report line rules defined in (TXS008).
TXS008 VAT Report Template. Connect Lines

Define the various lines required to group and subtotal the Sales or Purchase VAT Book, for example:

  • Line 10 – Standard rated
  • Line 20 – Lower rated
  • Line 30 – Zero rated
  • Line 40 - Exports

The rules and content for each line are then defined in (TXS009).
TXS009

VAT Report Template. Connect Lines Selection

For the defined VAT reporting lines in (TXS008), the content and rules for including or excluding general ledger transactions can be specified with these values:

  • VAT Code
  • VAT Account Type
  • Account Dimension 1
  • From/To Country
  • VAT Code Group
  • Invoice Class
  • State
TXS100 VAT Run. Open

Define the VAT reporting period with a unique run number.

Set the base country code to VN.
TXS100/G Print options for the run

Use a VAT template report defined for VAT payable and related customer sales. These print options are available:

  • Summary – TXS107PF
  • Detailed – TXS110PF
TXS118 VAT Run. Open User Defined Lines The lines created for electronic VAT reporting are displayed.

To open (TXS118), select a record in (TXS100), then select Related > Dsp User-Defined.

TXS120 Online VAT Adjustment. Open Users can validate, check, and adjust VAT details stored in M3 General Ledger before final reporting.

To open (TXS120), select a record in (TXS100), then select Related > Wrk online adjustm.