Account receivables (personal)

The Overview tab shows accounting value and tax value of accounts receivable this year and last year. Accounting value is displayed at client account level. The tax value displayed here is a result of entries on the Calculated taxable value tab. Click Show all to see all associated client accounts with zero values.

On the Calculated taxable value tab, you calculate the tax value of accounts receivable. The system calculates tax write-down for the Calculate based on formula option. Nominal value of trade debtors and not invoiced trade debtors, confirmed losses on trade debtors, and sales revenue are automatically populated. If the amount in Sales revenue has both credit sales and cash sales, fill in the relevant amount for cash sales in the fields Of which cash. This because cash sales shall not be included in the calculation of tax write-downs of nominal value of trade debtors and not invoiced trade debtors. You can see which client accounts are part of an automatically populated field by hovering over a value field and clicking on the symbol that appears. Select Show accounts. In the same menu you can also select Override amount.

If the company is newly established, you can choose to use the Use 2% write-down (newly established business). The system then calculates a 2% tax write-down of nominal value of trade debtors and not invoiced of trade debtors.

When you do a change in this year's taxable value for account receivables, the system will automatically make a system voucher, so that the book value will be equal to the calculated taxable value. Under Closing entries you will see that the system has generated a system voucher Calculation of tax write-down on account receivables.

Both accounting and taxable values are constantly updated in the tab Overview.

Approve the values by clicking on the symbol in the Donecolumn.