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  • Post VAT Only Invoices in Dynamics NAV

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    Agi Harrar
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    To post a VAT only invoice in Dynamics NAV, full VAT must be set up with G/L accounts for full sales and purchase VAT with direct posting enabled. A VAT product posting group for full VAT is also required. When creating invoices, the full VAT G/L account and VAT product posting group must be selected so that the full invoice amount is recorded as VAT with a base amount of £0.00. Full VAT can also be used in general journals for corrective entries.

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    Vat Only Invoice

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    To post a VAT only invoice in Dynamics NAV, full VAT must be set up with G/L accounts for full sales and purchase VAT with direct posting enabled. A VAT product posting group for full VAT is also required. When creating invoices, the full VAT G/L account and VAT product posting group must be selected so that the full invoice amount is recorded as VAT with a base amount of £0.00. Full VAT can also be used in general journals for corrective entries.

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    10 views2 pages

    Post VAT Only Invoices in Dynamics NAV

    Uploaded by

    Agi Harrar
    To post a VAT only invoice in Dynamics NAV, full VAT must be set up with G/L accounts for full sales and purchase VAT with direct posting enabled. A VAT product posting group for full VAT is also required. When creating invoices, the full VAT G/L account and VAT product posting group must be selected so that the full invoice amount is recorded as VAT with a base amount of £0.00. Full VAT can also be used in general journals for corrective entries.

    Copyright:

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    How do I post a VAT only Invoice?

    To be able to post a VAT only invoice, Full VAT needs to setup in the program as follows: A G/L Account is required for Full Sales VAT and another for Full Purchase VAT. Each of these accounts should have Direct Posting set as Yes. Next, create a VAT Product Posting Group for Full VAT.

    In the VAT Posting Setup, create a line for the standard domestic VAT Business Posting Group and the Full VAT VAT Product Posting Group. The VAT Calculation Type must be set to Full VAT and the FULL VAT G/L account codes should be specified in Sales and Purchase VAT Account fields.

    When creating the purchase invoice, select the G/L Purchase Full VAT account on the line, followed by the VAT Product Posting Group for Full VAT.

    Dynamics NAV VAT

    If you look at the statistics on the invoice you will see that the full amount of the invoice is showing as VAT with a base amount of 0.00.

    The use of Full VAT is also applicable to General Journals if, for example, you need to make a corrective entry in order to correct a VAT calculation error.

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