Enter a purchase invoice on a project with VAT duty of project

You enter a purchase invoice on a project in Profit Financieel, with Profit having to apply the VAT duty of this project, not the VAT duty of the creditor. You enter the purchase invoice or costs in the usual way, but in this case you enter the project on the purchase invoice line (the first entry line).

Note:

You only use this procedure if you are dealing with projects that are executed on a location different from the branch location of the creditor and for which the VAT duty therefore deviates from the VAT duty of the creditor. For example, hotel expenses incurred on the project location. If you want to use this functionality, you must first activate and configure it.

On the invoice line, if you enter a project in the Project field, then entry of the purchase invoice goes as follows:

  • Profit uses the VAT duty of the project for the complete purchase invoice.
  • Profit uses the Preferred VAT code of the project when entering the cost lines. If it has not been set, Profit uses the VAT code of the expense account.
  • The project entry is required for all expense accounts for which Carry projects forward or Project entry allowed is set for Project entry mandatory.
  • In the sub-entry program for project entries, you cannot select projects. Profit enters the project number automatically here. This ensures you can only enter the costs from the invoice on the project that you have entered on the invoice line.

If you do not enter a project on the invoice line, then the functioning follows the standard procedure. See the description of the procedure for this under Enter a purchase invoice on a project. This works as follows:

  • Profit uses the VAT duty of the creditor.
  • Profit uses the VAT code of the expense account when entering the cost lines.
  • The project entry is only required for all expense accounts for which Project entry mandatory is set. In case of the Project entry allowed setting, the project entry is optional.
  • In the sub-entry program for project entries, you can randomly select projects.

To enter a purchase invoice on a project with the VAT duty of the project:

  1. Go to: Financial / Enter / Journal.
  2. Check Financial year and Period.

    These are the financial year and the period to which you post the entry.

  3. Select the purchase journal in which you want to enter the purchase invoice.
  4. Click on: OK.
  5. Enter the first entry line:
    • Select the creditor. If necessary, change the entry description. Enter the complete invoice amount (including VAT).
    • In Project, select the project to which the entry pertains. This field is only available if it has been added to the entry layout. If you do not enter the project on the entry line here, you use the default procedure. Please refer to the description under Enter a purchase invoice on a project.

    Pro_Inkoopfactuur boeken op project met btw-plicht project

    In Profit, if a message appears stating that the VAT duty of the selected project requires a VAT number for the creditor, you must first enter the VAT number for the creditor on the Creditor tab. For the following VAT duties, the VAT number for the creditor is required: Purchase within EU and Transferred from.

  6. Complete the second entry line.
    • Select the expense account if it is not displayed automatically.
    • Profit copies the project number from the invoice line to the cost line.
    • Profit automatically suggests the VAT code based on the Preferred VAT code of the project if this is set, otherwise Profit copies the VAT code from the ledger account. In both cases, the VAT code must be permitted allowed for the VAT duty of the invoice line.
    • If you are entering on a ledger account for which Carry projects forward is set to Project entry allowed or Project entry mandatory, a project entry is required. In that case, Profit automatically opens a sub-entry window with project data:
  7. Enter the line(s) in the sub-entry program for project entries.

    When specifying the costs for a project entry, Profit automatically enters the project number. You cannot change it.

    For further information on the other fields of a project entry, please refer to the description under Enter a purchase invoice on a project.

  8. Click on: Finish.
  9. Now complete the entry.
  10. Click on: Finish.

See also

Directly to

  1. Carry forward purchase invoices and cost entries to a project
  2. Set a ledger account for a project entry
  3. Configure the carrying forward of purchase invoices with VAT duty by project
  4. Set a ledger account for a project entry
  5. Enter a purchase invoice on a project
  6. Enter a purchase invoice on a project with an attachment in the project dossier
  7. Enter a purchase invoice on a project with VAT duty of project
  8. View and change a journal entry for a purchase invoice with a project entry
  9. Delete a journal entry for a purchase invoice with a project entry
  10. Enter a purchase invoice on a project (project entry) with an employee wage entry
  11. Enter costs