VAT Invoice for Inventory Shipments
When items are written off, the object of taxation for calculating compensating tax liabilities for VAT is not the market value or the cost of these products, but the cost of items or services, which were purchased with VAT and used for the production of these products. When items are written off, a compensating sales VAT invoice, issued to own organization, will be created.
Required settings
- On the VAT Business Posing Group page, create or enable settings for the existing VAT Business Group for import of services in the following fields:
| Field | Action |
|---|---|
| Automatic VAT Invoice | Enable this option if you need to create a VAT invoice automatically when posting an inventory shipments. |
| ITN | Enter the following value: 600000000000. |
- On the VAT Posting Setup page, for a specific combination of a VAT Business Posting Group for Inventory Shipment and VAT Item Group, set the 13 – due to using production and non-production means, other items/services for non-economic activities value in the VAT Inv.Keeping Reason field.
Creating a VAT Invoice for Inventory Shipments
- Crete and post Inventory Shipment for a configured VAT business group.
- A Sales VAT Invoice will be created automatically when posting Inventory Shipment.
- To check a created VAT invoice, open Posted Item Shipments and click Navigate. In the VAT Invoice line, go to Number of Entries field.
- Select a VAT invoice from the Sales VAT Invoice List.
- On the Sales VAT Invoice page, click Post to post a sales VAT Invoice.