Posting orders
In the Accounting instances field, section Logistics, in the Company information table, you define when batches are to be produced by selecting the Accounting column for the specific process. Direct update determines whether the batch shall be directly updated or not.
In the section Post VAT in the Accounting instances field you can define if you want the VAT amounts posted via VAT codes or directly on VAT accounts when voucher lines are produced in connection with invoicing and receipt of invoice.
See also: Accounting instances
The advantage of posting via VAT codes is that sales and purchasing transactions will contain complete information about the taxes that have been calculated as well as the gross amount (entered amount) and net amount (posted amount).
Posting sales/hire using VAT codes
Voucher lines with the following accounts are split per VAT code:
- Sale
- Discount/addition
- Special tax
- Invoice fee
Voucher lines are also split per:
- General ledger account
- Organisational unit combination
- Value date
- Debit/Credit
- Invoice number
The VAT code for invoice fees is retrieved from the Country table.
The amounts that are entered in the accounts are inclusive of VAT when using VAT codes, otherwise they are exclusive of VAT. Depending on whether the order is net or gross, the amounts are processed as follows:
| Net order | Gross order | |
|---|---|---|
| With VAT code | Add VAT | Unchanged amount |
| Without VAT code | Unchanged amount | Unchanged amount Deduct VAT |
VAT code for special tax
Special tax is only given a VAT code if you have selected the Sp. tax VAT obl. field in the VAT- and accounting information table. If you have selected the check box for special tax to be included in the sales price, but the special tax is not subject to VAT, it is deducted before calculation of VAT on the sales amount.
Posting purchases using VAT codes
Voucher lines with the purchase accounts are split per VAT code.
Voucher lines are also split per:
- General ledger account
- Organisational unit combination
- Value date
- Debit/Credit
- Invoice number
The amounts are inclusive of VAT when using VAT codes, so that Business NXT will add VAT if it is a net order.
Posting product purchases
In addition to posting sales you can also post product purchases. Posting takes place at the point of realisation of the purchase order, while product transactions are produced when goods are received.
Prerequisites
To post a product purchase you must have following setup:
- Product purchase voucher series field set in the Company information table.
- Invoice received check box selected in the dialog for the Accounting instances field in the Company information table.
- Accounts for taxable purchases, non-taxable domestic purchases, purchases from EU countries and purchases outside the EU defined in the VAT- and accounting information table.
- Accounts for incoming VAT entered in the VAT rate table.
Received invoice
When performing the processing received invoice, a dialog will open where you can see the list of invoices and their VAT distribution. Select an invoice to edit the details and total amounts. To edit VAT values, select the post with VAT code and edit VAT amount below.
You can edit only the invoice currency fields, and not the domestic values. The domestic fields are for information only. When order/invoice currency is the same as the domestic currency, only invoice values are displayed.
The invoice number is transferred to the voucher line's invoice number and reference. This applies to the selected row if there are several invoices which are approved simultaneously. When several invoices are approved simultaneously, one supplier entry per supplier number/invoice number is created for the accounts. If you receive several orders from a supplier that you want to post in several invoices, you must enter the invoice numbers in the order head before approval. The invoice date and other information are taken from the first order for which the invoice number has been used.
Overriding invoice amounts and due dates in the Posting dialog
When you select Processing/Received invoice in the order head, you call up the Posting dialog for purchase orders as shown in the table below. Here you can add or override the invoice number, gross and net amount, VAT amount, various dates, OCR CID code, payment priority and voucher series. Which fields are available depends on which line you have selected in the list .
The difference between the original and the net amount that you might have overridden is posted to the rounding account referred to in the Company information table. This is on the condition that you only override net invoice amounts to take into account rounding differences, and not to process discounts, etc. If you override the VAT amount this is posted directly to the relevant VAT account.
Explanation of the fields in the Posting dialog
| Field | Explanation |
|---|---|
| Invoice number | The invoice number you have entered in the order head is displayed, otherwise you can add one now. |
| Invoice date | This field contains the invoice date you entered in the order head. If you have not entered the invoice date, the current date is suggested by default. The date is transferred to the voucher line's voucher date and you can override it by supplier invoice. The changes you make here do not affect the due date in the dialog. |
| Value date | The value date is set as the last invoice date for the approved orders. If you override this field, the new date applies to all the invoices you approve. |
| Due Date | This field contains the due date from the order head. If you have not entered the due date, the due date is calculated on the basis of the payment terms in the order in relation to the invoice date. This date is transferred to the due date in the voucher line and you can override the date by supplier invoice. |
| Net amount | This field contains the net amount of the orders by supplier/invoice number. You can make changes, which are added to the supplier entry without VAT. General ledger entries are posted to the rounding account you defined in the Company information table. There is no automatic VAT correction if you change the net amount because it may consist of several VAT codes. If you want the change to affect VAT, you must change this manually. |
| VAT amount | Business NXT displays one line per tax code. If an order contains products that lead to different VAT codes, as many lines appear as there are VAT codes. When you select a line for VAT code, you can override the VAT amount for the respective VAT code. If you make corrections in the field, they are posted to the supplier entry as total net amount + changed VAT amount. In the general ledger, they are posted directly to the VAT account for the respective VAT code with the changed amount. |
| CID Code | You can enter the CID code when approving invoice received and it is then transferred to the voucher line's CID code. |
| Voucher series number | Here you can select a voucher series other than that defined in the Company information table. This choice applies per invoice so that you can choose different series when you receive several invoices simultaneously. |
| Payment priority | Here you can enter a priority which is transferred to the priority in the voucher line. The field displays the first priority that you have defined in the Text table, but nothing is written to batches unless you select a priority in the field. Priority is retrieved by date. |
| Cancel | Cancels the changes you’ve made and you can go back and edit the orders. |
Voucher number
Separate general ledger transactions will be produced per invoice, and give all voucher lines for an invoice the same voucher number (i.e. the voucher lines with general ledger entries for an invoice are given the same voucher number as the voucher line with accounts receivable and payable entries). This applies to both incoming and outgoing invoices. The order number, customer number/supplier number, employee number and invoice number are included in general ledger transactions for sales/purchases.
If the option GL trans. per invoice (Recommended) in Accounting instances in the Company information table is not selected, general ledger entries in the batch will be given the next free voucher number (and voucher type) from the voucher and document series for sales or product purchases.
How does posting of product purchases work?
Batch
Business NXT produces a batch of all invoices. The batch is given origin code 9 - Order processing, the order journal number is entered as Original run no. and the Value date is set at the current date.
Common to voucher lines
The voucher lines in the batch are given the voucher number and voucher type from the voucher series for product purchases. The voucher date and value date are set at the invoice date, or the current date if the invoice date is not stated.
The batch contains voucher lines with crediting of payees, usually the suppliers, and debiting of purchase accounts and VAT accounts, and vice versa for credit notes.
Voucher lines per invoice
One voucher line is produced per invoice per currency. Each voucher line contains:
- Invoice number
- Terms of payment and due date. If you have not defined the invoice date in the order head, it is calculated on the basis of the invoice date and the terms of payment.
- The invoice reference in the Cross reference field for credit notes.
- Organisational units, if you have selected Order head information to d/c ledger in the field Accounting processing in the Company information table.
- Currency number, exchange rate and amount in the current currency and default currency
- VAT amount
- Supplier number in the Sup. no. field (can be different from the payee in the Credit account field.)
- CID code, if you have selected this option in the dialog in the Order options field.
- Employee number
- Order number, if the invoice only contains one order
Voucher lines with totals for invoices
Voucher lines for purchases and VAT are totalled per value date and debit/credit in the batch. Purchases are also totalled per combination of organisational units.