Creating a VAT Invoice for Sales below Cost
In case of delivering items the tax base of which exceeds the actual delivery price, a consolidated VAT invoice should be drawn up no later than the last day of the month for the amount of VAT on the excess of the tax base over the actual price.
Before creating a VAT invoice for sales below cost, make sure all necessary settings are in place:
- Choose the
icon, enter Tax Setup, and then choose the related link. - On the Tax Setup page, the Sales tab, set the following field values:
| Field | Description |
|---|---|
| VAT Bus. Group for Sales below cost | Select a VAT Business Group that will be used by default when creating a consolidated Sales VAT invoice at price below cost. |
| Sales Below Cost Text | Specify the text that is added to item description by default in the lines of consolidates Sales VAT Invoice at price below cost. |
To create a consolidated Sales VAT Invoice, run the Create Sales VAT Invoice for sales below cost job.
- Choose the icon, enter Create Sales VAT Invoice for sales below cost, and then choose the related link.
- In the request window, set the period for which sales will be included when running the job, by filling in the Period From and Period To fields, respectively. In the Issue Date field, specify the date of the VAT Invoice generation.
- After the system processes the sales documents for the specified period, a consolidated VAT invoice for the amount of VAT will be created for the excess of the tax base over the actual price.