Import Purchase Check-List
Problem: How to enter Import purchase into software?
Solution: Record as usual purchasing with import settings.
Creation of PO/Invoice received > Creation of Additional expense if needed > Creation of Custom declaration
(This manual will explain what is the necessary import setting)
1. Create Purchase Order and/or Invoice Received with Taxation type Import in Prices and Currencies:
See also 4.2.1.1. Purchase Orders (Order for Purchase)
4.2.3.1. Invoices Received (Receipt From Supplier)
2. Add required Expenses in Invoice Received (Expenses tab).
Apply Reverse Charge for Service option if reverse charge should be applied to services as well.
See also 4.2.3.1.3. Creating an Invoice Received. The Expenses tab
Apply Reverse Charge for Services
for Additional Expense document, use Import as Taxation type:
See also 4.2.8. Additional Expenses
3. Generate a Custom Declaration (Import) on the basis of Invoice Received.
Tick options if applicable:
- Custom Clearance Performed by Third Party so records only for VAT are made. All duties and service charges should by included in separate Invoice Received.
- Apply Custom Penalties if required.
4. Add Service Charge and Duty Rate if applicable:
- apply total amount of Service Charge at main tab
- put tick 'Include Service Charge into Import Value (for VAT Calculation)'
- press Allocate Service Charge button
- add Duty Rate in percent
5. As Custom Declaration (Import) is posted, the record for Input VAT on Purchase of Inventory (Import) is made:
See also 4.2.10. Customs Declarations
Thank you for being a FirstBIT customer!
# import invoice