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VAT Invoice (Fin. Lease with Delivery of Goods)

VAT Invoice (Fin. Lease with Delivery of Goods)

Owned by Lango: Language and translation manager
Last updated: Dec 20, 2024Version comment
3 min read

After successful activation of the contract, a VAT invoice is created and posted, the Financing Contract Header and the source Calculation Inputs are updated.

Invoice for VAT upon delivery of goods

The posted sales invoice is filled in the usual way, and the selected information in the invoice header is filled in as follows:

  • Number series = according to the settings on the Contract model (field Number series for tax documents upon delivery of goods)

  • Posting Date = Date of entering the calculation from the source calculation input (usually Handover Date when activated)

  • VAT Date = Date of entering the calculation from the source calculation input (usually Handover Date when activated)

  • Document Date = Working Date

  • Due Date = if the VAT is paid by the customer directly, without financing, then the Due Date is calculated according to the Date of entering the calculation from the source Calculation input and the Payment Terms Code from the invoice header

  • Payment Terms Code = From the Financing Contract from the Payment Terms Code field for Delivery Invoice. If the code is not filled in or the completed code does not exist in the code list, the Payment Terms Code from the customer's card is used

  • Corrective = No

  • Reason Code = Default Reason Code as per Reason Code Setup in Financing

  • Company Bank Account = from the Financing Contract header from the Bank No. field. If the field is empty, the contract cannot be activated (error message "The Bank No. field must have a value (cannot be zero or empty) in the table Financing Contract Header: Number=...”

  • Variable symbol = according to the settings in the Contract model, field VS Format of Individual Invoices. The variable symbol is adjusted in the standard way during posting (omitting letters and characters, max. 10 digits, cutting from the right if the overlap is overreached)

  • Dimension = From Financing Contract

  • Customer Posting Group = Customer Posting Group from Financing Contract

Two lines are created for each source Calculation Input of the contract, with the following on the lines:

  • Type = G/L Account

  • Number = G/L account number according to OneCore Posting Setup (one setup line will be used for both invoice lines)

  • Unit Price Excl. VAT = Amount from Source Calculation Input (Base Amount field); the sign of the 1st line (with VAT) is positive, the sign of the 2nd line (without VAT) is negative

  • VAT Prod. Posting Group

    • 1st row (positive amount) = VAT posting group from source calculation input (original posting group, "incl. VAT")

    • 2nd line (negative amount) = VAT product posting group of the payment upon delivery of goods from the Financing Contract ("without VAT", for resetting the tax base on the invoice)

  • Description = According to OneCore Posting Setup, Description field

According to the Reason Code Setup in Financing, there may be a line with introductory text on the invoice, which may also contain variables (e.g. contract number)

 

VAT invoice upon delivery of goods (when contract activation)

A VAT document is created in a similar way as in the regime without VAT financing. Only the following data differs: