VAT inc amount on Invoice and Data Entries

[JimboS]

Am I correct that you can change the reports so that they show the VAT inc amount rather than amoutn ex VAT on the order lines?

If so how?

Using V9.0.4

Thanks

James

[TraceyHand]

Funny, I was just thinking about the same thing yesterday actually!
Not looked into it but I might do now! I do hate how the ex-vat prices look on the invoice

[TraceyHand]

ok, at a glance

Settings > Business Settings > Order Processing

Preferred Invoice format
Try ticking "VAT inclusive prices"

Does that do it?
I guess only on the invoice but it's a start

[TraceyHand]

I should warn you that, using VAT inclusive prices on the invoice like this, you don't get a VAT breakdown as Actinic (and presumably the VATman) doesn't see this as being a tax invoice, as noted by the accompanying 'warning' on the invoice "This is not a tax invoice"

I presume that the VATman requires that an official Tax invoices shows the prices ex vat and the vat separately.
I guess you have to weigh up which you need. Tax invoices or clearer ones!

It's a shame because the VAT inclusive version makes more sense to look at. If you sell to VAT registered businesses though, they're going to need tax invoices for their records, I suppose.

[Mike Hughes]

From HMR+C

What a VAT invoice must show
A VAT invoice must show:

an invoice number which is unique and follows on from the number of the previous invoice - if you spoil or cancel a serially numbered invoice, you must keep it to show to a VAT officer at your next VAT inspection
the seller's name or trading name, and address
the seller's VAT registration number
the invoice date
the time of supply (also known as tax point) if this is different from the invoice date - see below
the customer's name or trading name, and address
a description sufficient to identify the goods or services supplied to the customer
For each different type of item listed on the invoice, you must show:

the unit price or rate, excluding VAT
the quantity of goods or the extent of the services
the rate of VAT that applies to what's being sold
the total amount payable, excluding VAT
the rate of any cash discount
the total amount of VAT charged
If you issue a VAT invoice that includes zero-rated or exempt goods or services, you must:

show clearly that there is no VAT payable on those goods or services
show the total of those values separately

But, also note:

Simplified VAT invoices
If you make retail sales and you make a sale of goods or services for £250 or less including VAT, then when a customer asks for a VAT invoice, you can issue a simplified VAT invoice that only needs to show:

the seller's name and address
the seller's VAT registration number
the time of supply (tax point)
a description of the goods or services
Also, if the supply includes items at different VAT rates then for each different VAT rate, your simplified VAT invoice must also show:

the total price including VAT
the VAT rate applicable to the item

So a lot of the time the VAT inclusive 'receipt' will be acceptable as a VAT invoice.

Mike

[TraceyHand]

that's interesting.
the only reason I picked it out is because, by setting Actinic to display vat inclusive prices on the invoice, it has 2 effects (aside from the vat inclusive prices, obviously!)

1) It no longer shows a tax/vat summary on the invoice
2) It displays the message "This is not a tax invoice"

I guess you could have it set as VAT inclusive and switch it back to VAT exclusive for the occasions where you need to send a tax invoice. It's not a complicated procedure.

It's just a bit misleading when Actinic prints the message on the invoice where, in many instances, it would be quite acceptable to use as a tax invoice! (although not for us as usually our B2B transactions are over £250. Easy to switch back though!)

you could always remove the message, of course. I'm sure it's probably deletable/editable through Design > Text!

It also doesn't show the VAT rate (although it obviously shows the VAT total) but this could be added in Design > Text where the invoice says "including VAT" to say "including VAT at X%"
Only possible if your invoice contains products of a single VAT rate though.

I guess, for many people, the (slightly editted) inclusive one is good enough