Table of Contents
VAT due / not due
Description
Advance invoices and credits for a construction project can be settled either with due or non-due VAT.
VAT due
- The proceeds of the partial invoice are transferred to a revenue account and the resulting tax is transferred to the VAT account in financial accounting.
VAT not due
- The proceeds of the partial invoice are first posted to a separate revenue account and the resulting tax is posted to a tax account that is not due. Upon receipt of the payment for this partial invoice, the separate revenue account and the tax account that is not due are corrected by the payment amount and the associated tax and the payment amount is now transferred to a revenue account and the tax is transferred to the VAT account in financial accounting.
- This means that the tax is not shown when the invoice is posted to the tax office, but only when the payment is received. In addition, only the tax that results from the payment, not from the invoice, is paid to the tax office.
Clarify in any case previously with your tax advisor and the responsible tax office to determine which taxation method applies to you.
Application
For partial invoices and credit notes, in print management stands for Print management the form setting Value-added tax to disposal. Select the entry dueto transfer the tax resulting from the invoice amount directly to the VAT account in financial accounting.
In the program parameter 70.30.40 Default tax due date determine how the form setting is pre-assigned.
