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Per the Polish Accountancy Act, which took effect on September 29,VAT for sales, purchases, and imported products must be processed separately. The VAT report date code field appears on several transaction pages. When you update or post transactions, information about the VAT report date code is posted to the tax tables. It will then be printed on the Polish VAT register. Service tariff numbers are required when you report information about VAT that involves a transaction with a party that isn't in Poland.
You set up service tariff numbers on the Service tariff numbers page. You can also make the service tariff number mandatory. The Mandatory service tariff number parameter affects the following pages:. The Base amount for VAT field is fusion de opciones sobre acciones modelo 720 when you enter a tax fusion de opciones sobre acciones modelo 720 in the following journals.
Fusion de opciones sobre acciones modelo 720 transactions are transactions where the Tax code field on journal lines has a value. In the Base amount for VAT field, you manually enter the tax base amount. After you post a journal, the value from the Base amount for VAT field is transferred to the Amount origin field in tax transactions.
The sales tax VAT reporting feature is used in ledger journals where multiple lines have the same voucher. When the following fields are changed on one line, a message box appears that lets you update the fields on other lines that have the same voucher:.
The message box appears only when the fields are changed for a line where a sales tax group, item sales tax group, and sales tax code are set up.
The message box is triggered on the following journal pages:. The sales tax direction feature is related to postings that are done through the general journal that involves sales tax transactions. Based on the account type that was used for the posting, the system automatically determines the sales tax direction that should be assigned to tax transactions that are created.
This feature helps guarantee that main accounts are determined correctly and that the sales tax direction is assigned correctly for general journal lines in the same voucher. Lines fusion de opciones sobre acciones modelo 720 meet one of the following conditions:. For general journal lines that meet the preceding conditions, the system assigns a separate sales tax direction:.
It's a basic document that is used in Polish accounting as the basis for reporting taxes to the tax authorities. It's also the main audit document for tax reporting in every Polish company. The VAT for sales, purchases, and imported products must be processed separately. The legislation also defines several official reports for VAT, and conditions for transactions that must be included on the reports.
The Fusion de opciones sobre acciones modelo 720 registers are printed regularly for reporting periods. They are usually printed every month. The reports must be printed on paper, and they must be signed by one fusion de opciones sobre acciones modelo 720 more authorities, such as a chief accountant or a chief financial officer CFO. They are used as the basis for the monthly VAT 7 tax declaration.
You can access VAT register reports from several places:. On the creditor side, output VAT on unpaid invoices receivables can be corrected under the following conditions:.
Output VAT can be corrected for the period when the receivable is proved to be unrecoverable. In other words, the invoice wasn't paid within days of the original due date. The receivable wasn't fusion de opciones sobre acciones modelo 720, and the invoice wasn't paid. On the debtor side, the debtor is obliged to correct fusion de opciones sobre acciones modelo 720 VAT in a period where days passed from the original due date of the purchase invoice for payables that aren't paid.
This requirement is unconditional. Therefore, the correction must be done even if the debtor didn't use the allowance for bad debts. If an invoice is paid or a receivable is sold by the creditor after the allowance for bad debts is used, the allowance should be reversed on the VAT statement for the period when the invoice was paid or the receivable was sold by the creditor.
If the payment was a partial payment, the reversal should also be partial and should be in proportion to the original invoice amount. The accountant who works with Accounts payable or Accounts receivable must periodically identify bad debts.
Debts are considered bad debts when the invoices aren't paid more than days but less than two years after the planned due date. The incoming and outgoing VAT may and should be corrected reversed for the identified debts. However, the accountant is responsible for making the final decision. Therefore, the accountant can manually exclude some invoices that were automatically identified. If the debts are paid in the next accounting period, the VAT must be reversed in proportion to the payment sum.
A periodic procedure identifies the bad debts, based on the vendor's or customer's open transactions and settlements on one side, and on the payment schedule on the other side. The sums of settled payments are also allocated in the same manner to the VAT codes on the invoice lines that will be reversed. If there is a mistake, the journals can be canceled, starting from the last journal. The transactions will be reversed. To set up the functionality for bad debt allowances, you must configure the system.
Minimum number of days: Enter the minimum period that indicates that an invoice is overdue. The minimum period is usually days. Maximum number of days: Enter the maximum period that an invoice isn't considered overdue. The maximum period is usually two years, or days. Select the type of date for each overdue invoice that should be calculated. The available values are Due date and Invoice date.
Select this check box to validate that the transaction balances don't change on the date of the last posted journal. On the Accounts receivable parameters and Accounts payable parameters pages, set up the following number sequence references:. After you've configured the system, you can use the Overdue debt VAT periodic function in Accounts fusion de opciones sobre acciones modelo 720 and Accounts payable to manage your overdue debts.
You can perform the following actions on the page:. Create a journal — Set up the date when the debt amount should be calculated. The date interval is automatically calculated, based on the setup of the overdue debt journal calculation.
When you create a journal, all overdue unpaid invoices for journal periods are automatically included. The journal also includes invoices that payments were processed for in that period. Information is available in the Paid amount and Paid tax amount fields. Post a journal — You can create a VAT reversal transaction for invoices that are included in the journal.
After the journal has been posted, it can be canceled. Cancel posted journal — The Cancel function is available only for the last journal. During cancellation, you can select the type of correction transaction correction or reversal by using the Correction check box in the dialog box.
Review vouchers — View the voucher transactions that are created during posting or cancellation. Review Posted sales tax — View posted sales tax transactions that are allocated to tax codes from invoices.
Open counting — View the summary information for customer or vendors, and invoices for those customers or vendors that are included fusion de opciones sobre acciones modelo 720 the journal. The FactBox pane shows amounts for all invoices that have bad debts that haven't been paid as of the end of the reporting period. The overdue amount and overdue tax amount are also shown. Polish taxation rules require that companies not have overdue payments to contractors. Companies are also penalized if they don't pay on time.
If the invoice was partly paid, a partial correction or reversal of the correction can also be done. The correction of costs is used when the invoice is a direct cost for example, office rentor when the invoice isn't posted directly to cost accounts. For example, the invoice is related to the purchase of a fixed asset, and the depreciation of the fixed asset isn't tax-deductible cost. Alternatively, the invoice is related to the purchase of goods for resale, and the cost of the goods that are sold isn't tax-deductible cost.
The functionality that is described here only lets you identify whether any invoices should be considered for correction. It's your responsibility to apply the required adjustments when you post.
Create a journal — In the Date field, set fusion de opciones sobre acciones modelo 720 reporting date to the last date of the journal reporting period. Documents are selected based on the two conditions that you set up earlier.
When the journal is created, the sum of debts is allocated proportionally among the financial dimensions that are assigned on the invoice lines. The New button is available only when the page is empty, or when the last journal is approved. Cancel a journal approval — The Cancel function is available only for the last approved journal.
View distributions — View the distribution of the debt sum by financial dimension. Description Enter a description of the VAT report date code. Include in VAT report Select one of the following options: With VAT report date — The report shows the whole invoice amount if the calculated date in the Date of VAT register field on the Invoice posting page is in the date interval for the report.
With VAT report date not later than — The report shows the whole invoice amount if the date in the Date of VAT register field is in the date interval for the report. The date is calculated based on the information in the Counted from and Number of days fields. With date of physical payment — If you select the Partial settlements check box, the report shows the settled part of the invoice amount if the reporting interval includes the payment dates.
If the Partial settlements check box is cleared, the report doesn't show the invoice amount until the invoice is completely settled. With date of physical payment not later than — If you select the Partial settlements check box, the report shows settlements that occur in the date interval for the report.
If the calculated value in the Date of VAT register field is in the date interval for the report, the report shows the whole invoice amount, except the settled amounts for the previous period.