Set up VAT duty splitting

In Profit, you can specify that when journalising the revenues from invoices, the revenue must be split by VAT duty to distinguish, for example, between domestic and international turnover. For the integration of the invoices with Profit Financieel, Profit then enters the revenue per VAT duty on a separate ledger account. You then specify these ledger accounts for the integration of the VAT duty in an article group and/or an integration group.

To set up split revenue invoicing for domestic and foreign VAT duty:

1. Go to: 
   • Projects / Management / Settings / Invoicing/stock
   • Order Management / Management / Settings
   • Subscriptions / Management / Settings
2. Go to the tab: General.
3. Select the Split revenue per VAT duty check box.

   Selecting this check box makes the Integration VAT duty tab visible in the properties of an article group and an integration group.

To set ledger accounts for an article group and integration group:

1. Go to: 
   • General / Configuration / Integration settings / Integration group
   • General / Configuration / Integration settings / Article group
2. Open the properties of the Article group or the Integration group.
3. Go to the tab: Integration VAT duty.
4. Select the ledger accounts in Revenue account and Credit entry acc. for the components in question. You must have added the ledger accounts for the international turnover already (for example, 8150 International revenue).

   

5. Click on: OK. 

For correct processing, you must have set up the VAT duty of the debtor(s) in the debtor properties.

See also

• Set up the VAT duty and number for debtors and creditors