Difference between revisions of "How do I Create a V.A.T. Only Transaction?"
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== More Information == | == More Information == | ||
− | This is useful in cases where a account has been invoiced with V.A.T. by mistake | + | This is useful in cases where a account has been invoiced with V.A.T. by mistake |
+ | |||
+ | {{Example|text=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 {{SL}} as follows: - | This reversal is done through the {{SL}} as follows: - | ||
Go to {{Menu|Systems\Accounts|{{SL}}|Invoice/Credit Notes}}. | Go to {{Menu|Systems\Accounts|{{SL}}|Invoice/Credit Notes}}. | ||
− | *Set {{DataPrompt|Invoice/Credit:}} to {{DataValue|C}}. | + | * Set {{DataPrompt|Invoice/Credit:}} to {{DataValue|C}}. |
− | *Enter the appropriate account. | + | * Enter the appropriate account. |
− | *Enter the sales centre of the original posting. | + | * Enter the sales centre of the original posting. |
− | *Press {{KeyPress|Enter}} to get the next credit note number. | + | * Press {{KeyPress|Enter}} to get the next credit note number. |
− | *Enter a relevant comment | + | * Enter a relevant comment |
− | *Press {{KeyPress|F5}}. | + | |
− | *In {{DataPrompt|Product Description:}} enter a more detailed description that includes the original invoice no | + | {{Example|text={{DataValue|V.A.T. reversal}}.}} |
− | *Press {{KeyPress|F5}}. | + | |
− | *Press {{KeyPress|F7}} to Edit Totals. | + | * Press {{KeyPress|F5}}. |
− | *Press {{KeyPress|Down}} and enter the V.A.T. amount of the original invoice. | + | * In {{DataPrompt|Product Description:}} enter a more detailed description that includes the original invoice no |
− | *Press {{KeyPress|F5}} to print the credit. | + | |
− | *Click {{Button|Accept}} to complete the posting. | + | {{Example|text={{DataValue|To reverse V.A.T. element of Invoice No. 12345}}).}} |
+ | |||
+ | * Press {{KeyPress|F5}}. | ||
+ | * Press {{KeyPress|F7}} to Edit Totals. | ||
+ | * Press {{KeyPress|Down}} and enter the V.A.T. amount of the original invoice. | ||
+ | * Press {{KeyPress|F5}} to print the credit. | ||
+ | * Click {{Button|Accept}} to complete the posting. | ||
== See also == | == See also == |
Revision as of 10:54, 29 October 2013
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".
- Set "Invoice/Credit:" to 'C'.
- Enter the appropriate account.
- Enter the sales centre of the original posting.
- Press <Enter> to get the next credit note number.
- Enter a relevant comment
![]() | 'V.A.T. reversal'. |
- Press <F5>.
- In "Product Description:" enter a more detailed description that includes the original invoice no
![]() | 'To reverse V.A.T. element of Invoice No. 12345'). |
- Press <F5>.
- Press <F7> to Edit Totals.
- Press <Down Arrow> and enter the V.A.T. amount of the original invoice.
- Press <F5> to print the credit.
- 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?
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