Full VAT calculation

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Posted on by David Tailor

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Hello,

in Business central there is a type of full vat where you can insert amount on a journal line and post this amount as full VAT. This type of VAT is in need when company is dealing with customs.

Ex: normal VAT is calculated on a base amount: 100 $ base amount, VAT 5 % will be 5 $. for full VAT base amount is 0 and VAT amount is fully VAT.

do this functionality exist in D365 F&O ?

Regards,

David

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Ludwig Reinhard Microsoft Employee on at

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RE: Full VAT calculation

Hello David,

If you post the full amount against a special VAT/customs duty account and select the tax code then the whole invoice amount should be posted as tax as Anton described.

Can you possibly share some screenprints that illustrate how you recorded the transaction?

Many thanks and best regards,

Ludwig
David Tailor 769 on at

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RE: Full VAT calculation

Yes Anton. But this is not the case.

Scenario is:

A company receive an invoice from customs for 100 $ fully VAT.

The only option in D365 F&O is to put 0 amount on a journal and edit adjustment to be 100 but system is not allowing for posting 0 amount

David
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Anton Ivanov on at

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RE: Full VAT calculation

Dear David,

The same functionality is available in D365 F&O also.

When you post such transaction, it is necessary just to select TAX code for VAT account in journal line.

Best regards,

Anton