ALTUM

Adding VAT invoice in the system currency

Before adding a VAT invoice, first it is necessary to select a subaccount in which the invoice will be registered. A VAT invoice is added by clicking [Add] in the List button group. The form of the VAT invoice is presented below.

The menu of the VAT invoice form is divided into seven button groups:

       VAT Invoice with buttons: [Save], [Confirm and Post], [Close], [Refresh], [Source Document]

       Elements with buttons: [Add], [Add], [Edit], [Delete], [Divide Entry]

       Payments with buttons: [Edit], [Refresh], [Combine], [Divide]

       Printouts and Reports with buttons: [Chart/Analysis], [Printout/Report]

       Attributes with buttons: [Add], [Add Value], [Delete]

       Analytical Description with buttons: [Save], [Confirm], [Generate Default], [Refresh Dimensions], [Add Record], [Delete Record]

       Posting with buttons: [Post], [View Unposted Entries], [Manual Posting], [View Journal Entry]

Tab General

Figure 69 VAT invoice form.

Mandatory field:

Document Number – for manually entered invoices, this number is typed by the user and it is a free number

Other fields:

Number – assigned automatically by the system

Customer or Vendor – name of a company the VAT invoice is assigned to

Transaction Type – the type of transaction can be selected from among the following options: National, Intra-Community, Non-EU. Transaction type filters the list of VAT parameters to those which were previously assigned to it.

Payment Form – allows for the selection of payment form for a given invoice

Due Date – expected payment date

days – number of days from the date of registration

No. – ordinal number assigned automatically by the system

Date of Registration – invoice date of registration in VAT account

Date of Issue – document date of issue

Date of Purchase – purchase date

Date of Sale – date of sale

Date of Receipt – date of receiving the invoice by the user

Subtotal – invoice value before tax

Total – invoice value after tax

Paid – value of the invoice that has been paid

Amount Remaining – value of the invoice that still needs to be paid

Account – name of account the invoice will be saved to. This field in not editable

VAT Parameters – the parameters panel is divided into two columns: Parameter Name and Parameter Value

    Parameter Name – contains the parameters defined for a VAT invoice

    Parameter Value – contains value assigned to given parameter

VAT parameters are defined in the Configuration tab. More information on how to add the parameters can be found in the manual Comarch ALTUM Configuration.

Tax Point – selected from among the following three default values: Date of Issue, Date of Receipt, and Due Date. Other tax points can be added from the level of Tax Point Definitions available in tab Configuration. For more information on the edition of the exiting values see the manual Comarch ALTUM Configuration.

In tax return – value in this field can be freely edited only if the tax point value Any had been previously created and selected in the Tax Point field. Normally, this field is not editable. Depending on the tax point value, the value is included in tax return in a given month.

After completing the mandatory field, the invoice element must be added. The element can be added:

       Manually (in table)

       Through form

To add an invoice element, VAT rates must first be defined in the system.

Tab Customer or Vendor

This tab contains a vendor’s address information. The name of this tab changes depending on the type of VAT account – the name: Vendor is appropriate for VAT purchase account, whereas the name: Customer for VAT sales account. This data is filled in automatically upon selecting the vendor in tab: General. All information displayed in this tab can be changed or completed, if missing.

By changing it, the data will be updated in the vendor’s files. The system does not allow saving the document without providing complete address data of the selected vendor.

Figure 70 Tab Vendor on the form of VAT invoice.

Tab Currencies

This tab presents the elements of the VAT invoice, including the currencies and the conversion rate for a given currency if it is different than the system currency.

Tab Payments

This part of the invoice is completed automatically upon saving the document. It contains a list of payments assigned to a given invoice. When issuing an invoice, the system suggests one payment for the invoice on the basis of information entered in tab: General  (total value, subtotal value) and in tab: Configuration (payment forms).

The user may add payment and determine its parameters individually. Changes can be entered in the list of payments only when issuing or editing the invoice.

The invoice cannot be paid from this level – all kind of payments are made with the use of cash and bank accounts.

If the invoice, being issued, is to be paid in several installments (e.g. part of it is paid in cash while issuing the document and the other part will be paid by bank transfer within 7 days period) – its due payment must be divided. A number of payments, which will appear in the payments list, should be the same as the number of defined installments. Due dates, payment forms, and amounts must correspond to particular installments. 

The list can be modified with the use of standard buttons available in the Payments button group. There are several characteristic actions in maintaining of payments: 

Edit – allows for the edition of a given payment by changing its parameters

In this tab, the following information about payment is provided:

Entity – selected in document header

Receivable – receivable resulting from the value of the release document

Payable – payable resulting from the value of the receipt document

Amount Remaining – amount remaining to be paid

Payment Form  - form in which payment must be effected

Currency – symbol of currency in which payment was generated. If not changed by the user, it automatically agrees with the document currency. Note that document can be issued in different currency than its payment

Due Date – planned date of effecting payment

Tab Associated Documents

In case of invoices entered to an account manually, this tab remains empty.

In case of invoices with the source document in the form of purchase invoice, this tab in not editable. It contains information about all documents associated with given VAT invoice.

Tab Attributes and Analytical Description

Detailed description of attributes and analytical description can be found in the manual Getting started with Comarch ALTUM.