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Include the vat amount of ITEM in the main account of charge

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Hello,

My customer needs to include the VAT amount for some ITEM, when we post the Invoice. Please find below the information in the line of Purchase order :

*Name ITEM : ABC

*Quantity : 5

Price : 100

percentage VAT: 10%

Amount without VAT = 500

Amount VAT = 0

Amount net = 550

Accounting entries :

Main account	Debit	credit
Charges Main account	550
Vendor Account		550

which set-up, can i do it in the code TAX.

Thanks

Omar

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Ludwig Reinhard Microsoft Employee on at

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RE: Include the vat amount of ITEM in the main account of charge

Hello Omar,

I don't understand your example.

You mention that the net amount is 550 while the amount without VAT is 500 and the VAT is 10%.

At the same time things are illustrated to be posted as a charge.

Can you please elaborate and provide some additional information on this business scenario/process?

Many thanks,

Ludwig
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MauricioSaldana on at

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RE: Include the vat amount of ITEM in the main account of charge

Hello Omar,

For the VAT to be included on the inventory value, you need to setup a tax code as non deductible as in the below image.