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• Explain the affects of the Prices Including VAT settings on sales and
purchase documents.
• Explain the process of adjusting calculated VAT amounts in sales
and purchase documents and journals.
• Demonstrate the process of recording Import VAT.
• Describe and demonstrate the process of correcting a posted VAT
entry.
• Explain, create, and print a VAT Statement.
• Explain and run the Calc. and Post VAT Settlement batch job.
• Explain the requirements of reporting Intrastat.
• Set up Intrastat for use in Microsoft Dynamics NAV 2009.
• Explain the process of running and submitting Intrastat reports.
Introduction
Value Added Tax (VAT) is a transaction tax that is paid by the end consumer and
businesses.
It is required for all companies to report and calculate VAT, therefore companies
need to become familiar with the setup process, in addition to how to calculate,
display, and adjust VAT amounts in sales and purchase documents.
Additional functions that make the required VAT reporting more efficient
include:
• Import VAT
• VAT Corrections
• VAT Reporting
• VAT Settlement
• Unrealized VAT
• Payment Discount VAT Adjustments
Intrastat is a required reporting process for all European Union (EU) companies
that trade with other EU countries/regions.
The system can be set up to run all the necessary reports related to Intrastat and
make the reporting more efficient for the company.
• Customer Card
• Vendor Card
• Item Card
• Sales document header
• Purchase document header
On the customer and vendor cards, if the Prices Including VAT check box:
• Does not contain a check mark, sales and purchase documents are
automatically set up to exclude VAT from unit prices and direct unit
costs. Therefore, the price and cost fields on the respective document
dynamically display Unit Price Excl. VAT and Direct Unit Cost
Excl. VAT.
• Contains a check mark, sales and purchase documents are
automatically set up to include VAT in unit prices and direct unit
costs. Therefore, the price and cost fields on the respective document
dynamically display Unit Price Incl. VAT and Direct Unit Cost
Incl. VAT.
Except for retail sales, the Prices Including VAT check box typically does not
contain a check mark.
NOTE: To include VAT in the unit price on items, you must display the Prices
Including VAT and VAT Bus. Posting Gr. (Price) fields on the Item Card
window using the Form Designer.
The following table provides an overview of how unit price amounts are
calculated for a sales document when prices are not set up in the Sales Prices
window.
2. Regarding the Prices Including VAT check box, which of the following
causes the Unit Price on the Item Card to be copied to the Unit Price Incl.
VAT field on the sales lines?
( ) Prices Including VAT check box does not contain a check mark in
either the Item Card or Sales Header.
( ) Prices Including VAT check box contains a check mark on both the
Item Card and Sales Header.
( ) Prices Including VAT check box contains a check mark on the Item
Card, but does not contain a check mark in the Sales Header.
( ) Prices Including VAT check box does not contain a check mark on the
Item Card, but does contain a check mark in the Sales Header.
3. What field must also be filled in if the Prices Including VAT check box
contains a check mark on the Item Card?
( ) VAT Amount
( ) VAT Prod. Posting Gr. (Price)
( ) VAT Bus. Posting Gr. (Price)
( ) Unit Price Incl. VAT
Users can manually enter or adjust VAT amounts if the calculated amount is
slightly different from the amount calculated by the customer or vendor, for
example, caused by rounding.
The following must be set up before you enter or adjust VAT in sales and
purchase documents:
To allow VAT correction for sales and purchases, follow these steps:
After setup is complete, VAT adjustments can be made in the Sales Order
Statistics or Purchase Order Statistics windows.
In either window, the total VAT amount for the invoice, grouped by VAT
identifier, is displayed in the lines. To make an adjustment, change the amount in
the VAT Amount field on the lines for each VAT identifier.
When the VAT Amount field is changed, Microsoft Dynamics NAV 2009
verifies that the VAT amount was not changed by more than the amount
specified as the maximum difference allowed. One of the following actions then
occurs:
Confirm the original VAT amount and the adjusted difference on the Sales
Order Statistics or Purchase Order Statistics windows by using the Show
Column function to display the Calculated VAT Amount and VAT Difference
fields.
April discusses the difference with Phyllis, the accounting manager, who tells her
to set up a 5.00 maximum VAT correction amount and allow corrections for
purchases.
April accidentally enters 4.00 as the maximum and then tries to adjust the VAT
amount on the purchase invoice. Because the change is not within the allowed
range, she is prevented from making the change. She checks her setup, and after
correcting the maximum VAT correction amount, she adjusts the VAT amount
accordingly.
The Calculated VAT Amount and VAT Difference fields are also added to the
Purchase Order Statistics window to review the original VAT amount and the
difference between the amounts.
To correct the maximum VAT difference allowed and complete the VAT amount
adjustment on the purchase order, follow these steps:
If VAT amounts are to be adjusted on sales and purchase journals, the VAT
difference must be allowed for sales and purchases, in addition to the setup for
general journals.
For information about the setting up the maximum VAT correction amount
allowed and the VAT difference allowed for sales and purchases, refer to the
lesson" Adjust VAT Amounts in Sales and Purchase Documents".
To set up the VAT difference allowance in the relevant journal, follow these
steps:
To enable the journal to accept changes to the VAT amounts, Phyllis sets a 2.00
maximum VAT difference and allows VAT difference in the General journal and
all related batches.
One of the expenses, for Electricity and Heating in the amount of 800, calculates
VAT at 160. However, the VAT amount she is posting is 162. She accidentally
enters 163 and receives an error. After entering the correct VAT amount, she
reviews the amount in the VAT Difference field.
To enter a line in the general journal and adjust the VAT amount, follow these
steps:
A purchase order from customer 20000, Selangorian Ltd., was received for sales
order 101017. The customer has agreed to pay the full amount of the sales order,
however, the customer has calculated VAT slightly higher than the calculation on
the sales order. The calculated VAT amount is 277.27; the customer has
calculated the VAT amount as 280.21.
To speed up the sales order process, you set up a maximum VAT correction
amount of 3.00 and enable VAT differences on sales documents. After setup is
complete, you change the VAT amount on the sales order.
Challenge Yourself!
Step by Step
9. Click Statistics.
10. Click the Invoicing FastTab.
11. Click the No. of VAT Lines 1 field.
12. In the VAT Amount field in the lines, enter 280.21.
13. Click OK.
14. Close the Sales Order Statistics window.
In the past, these invoices have contained large differences in VAT calculations.
Therefore, before you enter the expense, you set a 10.00 maximum VAT
difference allowance and then verify that both the purchase journal and Purchase
area are set up to adjust VAT amounts.
• Batch: Default
• Posting Date: 01/28/10
• G/L account: 8530
• Amount: 210.17
• Adjusted VAT amount: 51.49
HINT: It may be necessary to show the VAT Amount and VAT Difference fields
on the Purchase Journal.
Challenge Yourself!
Step by Step
Import VAT
The process of recording Import VAT involves posting a document where the
whole amount is treated as VAT. Import VAT is recorded when a VAT invoice is
received from tax authorities for imported goods.
When the VAT invoice from the tax authorities arrives, it shows a calculated
import VAT amount of 25 percent of the invoice amount (25,000.00 LCY).
Therefore, when the VAT invoice is paid, a VAT ledger entry must be created by
using the VAT base of zero (0) and the VAT amount of LCY 25,000.00.
The first step is to set up a general ledger account and the VAT Posting Setup to
accommodate the Import VAT. Import VAT is then posted using either a journal
or purchase invoice. In this demonstration, both posting options are explored.
• G/L Account
• VAT Product Posting Group
• VAT Posting Setup combination for Import VAT
To set up the VAT Product Posting Group for Import VAT, follow these steps:
To set up the G/L account for Import VAT, follow these steps:
To set up the VAT Posting Setup for Import VAT, follow these steps:
To record Import VAT with using a general journal, follow these steps:
NOTE: When you are posting full VAT amounts using journals, only fill in the
G/L account number, Gen. Posting Type, VAT Bus. Posting Group and VAT
Prod. Posting Group, and the balancing account.
When you set up the default Gen. Posting Type, VAT Bus. Posting Group, and
VAT Prod. Posting Group on the G/L account, all the information that is needed
for posting the full VAT amount is automatically filled in when the G/L account is
entered in the journal.
Microsoft Dynamics NAV 2009 created two balancing entries for account 5650:
In the VAT Entries window, the Base field is 0.00 and the Amount field is
25,000.00. This VAT entry is equal to the first G/L entry. Notice that entries with
the Base field set to 0.00 are only created from entries posted with a VAT
Calculation Type of Full VAT.
When using a purchase invoice to record Import VAT, you are required to
perform additional setup, including:
For this part of the demonstration, the G/L account that was created for Import
VAT (5650) and the VAT Product Posting Group (IMPVAT) are used.
To set up the vendor for use with Import VAT, follow these steps:
To set up the General Product Posting Group and G/L account for Import VAT,
follow these steps:
To set up the General Posting Setup for Import VAT, follow these steps:
To post the purchase invoice to record Import VAT, follow these steps:
There are now four entries in the General Ledger Entries window. The two
entries posted on 01/30/10 for the new posted purchase invoice resemble the two
entries posted on 01/24/10 from the journal.
To review the VAT entries for the posted purchase invoice, follow these steps:
In the VAT Entries window, the Base field is 0.00 and the Amount field is
25,000.00. This VAT entry is equal to the first G/L entry for the posted invoice.
NOTE: When posting purchases documents, you must enter a Gen. Business
Posting Group and a Gen. Prod. Posting Group; otherwise, the document
cannot be posted. In addition, you must specify the import VAT G/L account
number, Gen. Posting Type, VAT Bus. Posting Group, and VAT Prod. Posting
Group for Microsoft Dynamics NAV 2009 to post a full VAT amount.
VAT Correction
In Microsoft Dynamics NAV 2009, corrections can be made to posted VAT
entries using a process that changes the total sales or purchase VAT amounts
without changing the VAT base. This process is used, for example, when an
invoice is received from a vendor who has calculated VAT incorrectly.
• Purchase VAT and Payables G/L accounts setup for Direct Posting
• Correction VAT Posting Setup with a VAT Calculation Type of
Full VAT
• General Journal
NOTE: Minimal VAT Posting Group combinations are set up in the "Set Up and
Post a VAT Correction" demonstration.
• 1,250.00 credit to both the relevant vendor account and the payables
account.
• 250.00 debit to the purchase VAT account.
April later receives the vendor invoice, stating that the amount including VAT
amount is 1240.00. Therefore, a 10.00 correction must be posted. April contacts
Cassie, the accountant, to make the correction.
Because this is the first VAT correction needed at CRONUS International Ltd.,
Cassie sets up the following to prepare for the correction process:
As soon as the setup is complete, she posts the correction using a general journal
and then reviews the posting. As soon as the posting and review are complete,
she removes the Direct Posting capabilities on the G/L accounts.
When the general journal was posted, the following entries were created:
To remove the direct posting capabilities on the G/L accounts, follow these steps:
VAT Statements
The VAT statement is used to specify the basis for calculating the VAT payable
to the tax authorities. Created in the VAT Statement window, the VAT
statement is defined based on:
The advantage of using the VAT entries is that you can close these entries by
posting the VAT settlement. When working with VAT entries, you can locate
VAT correction entries in previous accounting periods, where the VAT statement
is done.
VAT Statement
The VAT Statement window is used to calculate the VAT settlement amount for
a specific period. The purpose of defining the VAT Statement window is to
determine how the statement is calculated and appears when it is printed.
After setting up the VAT statement, Phyllis runs a preview to confirm the setup
and then prints the statement.
3. Click New.
4. In the Name field, enter VAT Europe.
5. In the Description field, enter VAT Statement for Europe.
6. Click OK .
7. On the first line, in the Description field, enter Monthly VAT
Settlement.
8. In the Type field, click the drop-down list and select Description.
9. Skip the next line to create a blank line.
10. In the third line, in the Row No. field, enter REV1.
11. In the Description field, enter VAT Revenue Domestic 25%.
12. In the Type field, click the drop-down list and select VAT Entry
Totaling.
13. In the General Posting Type field, click the drop-down list and
select Sale.
14. In the VAT Bus. Posting Group field, click the drop-down list and
select National.
15. In the VAT Prod. Posting Group field, click the drop-down list and
select VAT25.
16. In the Amount Type field, click the drop-down list and select
Amount.
17. Do not change the defaults in the remaining fields.
To view a calculated VAT Statement before printing it, in the VAT Statement
window, click Related Information, point to VAT Statement, and then select
Preview.
These selections determine the lines that are contained in the actual statement and
the lines that appear in the preview.
On lines where the Type field contains VAT Entry Totaling, you can access the
individual entries that make up the sum in the Column Amount field by clicking
the drop-down list.
VAT Settlement
Periodically, the net VAT must be remitted to the tax authorities. To calculate
this amount, run the Calc. and Post VAT Settlement batch job. This batch job:
7. In the Post check box, when printing or previewing the batch job:
o Click to insert a check mark to post the transfer to the VAT
settlement account automatically.
o Leave unchecked to print a test report.
1. Click Preview to review the report, or click Print to print the VAT
Settlement.
2. If the Post check box was checked, a message is displayed that asks
whether VAT Settlement has to be calculated and posted.
o Click Yes to continue posting.
o Click No to prevent posting.
• The account for purchase VAT is credited and the account for sales
VAT is debited with the amount from the VAT statement period.
• The account for VAT settlement is credited with the net amount (or,
if the purchase VAT amount is larger, it is debited).
NOTE: As soon as VAT entries are posted and their status is closed, they cannot
be reopened. However, VAT reports can be created from these closed entries.
2. What occurs when the Calc. and Post VAT Settlement batch job is posted?
(Select all that apply)
( ) Purchase and sales VAT amounts are transferred to the VAT
settlement account.
( ) A Posted VAT Settlement report is printed.
( ) VAT entries are closed.
( ) The entry number of the settlement entry that closed the VAT entry is
inserted in the Closed by Entry No. field for amounts that are
transferred between G/L accounts.
Intrastat Reporting
All EU businesses must report their trade with other EU countries. Each
company within the EU is responsible for:
Set Up Intrastat
For posted item entries to contain the necessary information when imported into
the Intrastat Journal line, the following must be set up:
• Tariff Numbers
• Transactions Types
• Transport Methods
Intrastat Journal Templates and Batches must also be set up before Intrastat can
be reported.
• Ordinary purchase/sale
• Exchange of returned goods
• Exchange of non-returned goods
• 1 for sea
• 2 for rail
• 3 for road
• 4 for air
• 5 for post
• 7 for fixed installations
• 9 for own propulsion (for example, transporting a car by driving it)
When you are entering these methods in Microsoft Dynamics NAV 2009, these
descriptions are not required. However, the descriptions must provide a similar
meaning.
Additional Setup
In addition to Tariff Numbers, Transaction Types, and Transport Methods,
the following can be set up for Intrastat reporting:
This information is also copied from the posted item entries when the Intrastat
Journal is created.
3. In the Code field, enter the established code for the area.
4. In the Text field, enter the description of the area.
5. Repeat steps 2-4 for all transaction specifications.
6. Close the Areas window.
As soon as Areas are set up, the system enters Transaction Specifications,
Exit/Entry Points, and Areas on the Foreign Trade FastTab of sales and
purchase documents before you post.
• BE for Belgium
• NL for Netherlands
• DE for Germany
In addition, you must fill in the Intrastat Code because the Get Item Ledger
Entries batch job in the Intrastat Journal retrieves only the entries that contain a
country code with an Intrastat Code. Therefore, ensure that Intrastat codes are set
up for the country codes used in the batch job.
Report Intrastat
The process of reporting Intrastat begins with filling in the Intrastat Journal and
then selecting how to submit the reports to the required reporting authorities.
NOTE: Intrastat Journals are not posted; they are generated for reporting only.
Intrastat Journals
Intrastat Journals are populated using either of the following methods:
• Manually
• Automatically with the Get Item Ledger Entries batch job
NOTE: The manual option is typically used to record G/L entries in addition to
item ledger entries, such as service charges, freight costs, and landed costs.
To populate the Intrastat Journals with using the batch job, follow these steps:
The Intrastat Journal is populated with the entries for the specified period
Submit Intrastat
As soon as the Intrastat Journal is populated, the following report options are
available:
If both sales and purchase transactions are reported, a separate form must be
completed for each type so that the report must be printed twice.
Step:
Summary
When doing business with EU countries, VAT and Intrastat must be reported.
The system can automatically calculate VAT amounts for sales, purchases and
import.
Microsoft Dynamics NAV 2009 can run all the necessary reports related to VAT
and Intrastat.
4. Which of the following are true about VAT Statements? (Select all that
apply)
( ) They are set up with the format required by the tax authorities
( ) They are used to specify the basis for calculating the VAT payable to
the tax authorities.
( ) They are defined based on entries in the VAT Entries window and
accounts in the Chart of Accounts window.
( ) They are set up and defined monthly.
1.
2.
3.
Solutions
Display VAT Amounts in Sales and Purchase Documents
Test Your Knowledge: Prices Including VAT Setup
1. Where can you set up Prices Including VAT? (Select all that apply)
( ) G/L Accounts
(√) Customer and Vendor Cards
(√) Sales and Purchase Documents
(√) Item Cards
2. Regarding the Prices Including VAT check box, which of the following
causes the Unit Price on the Item Card to be copied to the Unit Price Incl.
VAT field on the sales lines?
( ) Prices Including VAT check box does not contain a check mark in
either the Item Card or Sales Header.
(•) Prices Including VAT check box contains a check mark on both the
Item Card and Sales Header.
( ) Prices Including VAT check box contains a check mark on the Item
Card, but does not contain a check mark in the Sales Header.
( ) Prices Including VAT check box does not contain a check mark on the
Item Card, but does contain a check mark in the Sales Header.
3. What field must also be filled in if the Prices Including VAT check box
contains a check mark on the Item Card?
( ) VAT Amount
( ) VAT Prod. Posting Gr. (Price)
(•) VAT Bus. Posting Gr. (Price)
( ) Unit Price Incl. VAT
Import VAT
Test Your Knowledge: Import VAT
VAT Correction
Test Your Knowledge: VAT Correction
Which of the following are included in the VAT Correction process? (Select all
that apply)
MODEL ANSWER:
The Direct Posting capabilities must be removed from the Purchase VAT and
Payables G/L accounts.
VAT Settlement
Test Your Knowledge: VAT Settlement
1. Which of the following are true of the Calc. and Post VAT Settlement batch
job? (Select all that apply)
(√) Can be used to start the posting process or to print a test report.
(√) Calculates VAT settlement of open VAT entries in previous
accounting periods.
( ) Is run one time each month.
(√) Finds all the VAT entries in the VAT Entry window—for every VAT
Posting Group combination—that are included in the filters in the
batch job.
2. What occurs when the Calc. and Post VAT Settlement batch job is posted?
(Select all that apply)
(√) Purchase and sales VAT amounts are transferred to the VAT
settlement account.
( ) A Posted VAT Settlement report is printed.
(√) VAT entries are closed.
(√) The entry number of the settlement entry that closed the VAT entry is
inserted in the Closed by Entry No. field for amounts that are
transferred between G/L accounts.
Set Up Intrastat
Test Your Knowledge: Intrastat Setup
Report Intrastat
Test Your Knowledge: Reporting Intrastat
Step:
4. Which of the following are true about VAT Statements? (Select all that
apply)
(√) They are set up with the format required by the tax authorities
(√) They are used to specify the basis for calculating the VAT payable to
the tax authorities.
(√) They are defined based on entries in the VAT Entries window and
accounts in the Chart of Accounts window.
( ) They are set up and defined monthly.