• From: UK
  • Registered: 05/13/2008
  • Posts: 31

Topic: Counter post account in Tax Types

For supplier invoices and your smart new quick entry payment feature, you will need counter post accounts in the tax types. This should control where the VAT should be "counter" posted, if you don't want it to be posted directly to Receivable or Payable Accounts. This feature is usefull for suppliers and customers that are outside the company's country, wherefore there should be no VAT on the invoices, but the company will still need to report a pseudo VAT to the authorities.

  • joe
  • Administrator
  • Offline
  • Registered: 03/15/2007
  • Posts: 5,089

Re: Counter post account in Tax Types

Yes, I know that this is the normal handling for foreign suppliers, however, I think we have to enhance the quick entries a bit.
Instead of using the automatic coding for tax on the account, we should probably use multiple lines and also include dimensions on the line and a checkmark for if this is % or amount. This way we have to enter all the lines needed to execute the transaction.
In this case we are are very close to what one could call 'Automatic Codings'. We can then create entries for almost every situation.
And it could also be used in GL entry (depreciations, periodic contribution etc.)
But we have to make this as simple as possible, so we are still considering.

/Joe