Manage taxable documents
Section Content
About VAT amount validation in documents
Visma Net provides you with the functionality of validating the VAT amounts in supplier documents that you enter into the system.
About VAT calculated for documents with cash discounts
To meet the requirements of European value-added tax (VAT) legislation on discounts for early payments (also known as prompt payment discounts, or cash discounts in Visma Net ), in documents (such as invoices) for which the full payment has been received within the cash discount period, the VAT amount must be calculated based on the discounted taxable amount.
Recognition of pending VAT - overview
In the VAT (TX205000) window of Visma Net, you can configure a value-added tax (VAT) of the Pending type to be applied to those documents whose VAT amounts should be recognised after the document has been released.
About recognising the pending VAT on documents
By using the On documents VAT recognition method, you recognise VAT amounts calculated in the unpaid documents that are subject to pending VAT.
About recognising the pending VAT on payments
In certain countries, there are legal requirements that VAT must be recognised, accrued, and included in the VAT report at the time of payment.