Page History

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• Advance report which reflects the purchase
• Input VAT transaction based on the advance report
• Tax Invoice Received based on the input VAT transaction
• Output VAT transaction based on the advance report

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1. Click Create to create a new Output VAT Transaction.
2. In the Company box, select the company from which the service was purchased.
3. In the Transaction Type field, select Reverse Charge (Services).
4. In the Adjustment Type field, select Increase.
5. Make sure the link below the fields contains Prices Do Not Include VAT. Otherwise, click the link to open the Prices and Currency dialog box, clear the Prices Include VAT check box there, and click OK to close the dialog box.
   
6. On the Inventory/Services tab, click Add to append a new line.
7. In the Contents column enter any comment to the transaction, for instance Reverse Charge on service.
8. In the Amount column, enter the service amount from the advance report.
9. In the VAT, % column, select the standard rate, 5%.
   
10. Click Post to register the document in the system.On the Main tab on the command bar, click the Generate Tax Invoice button. A link to the generated tax invoice received appears.