[GNC] How to process a purchase made without paying VAT and add it as an investment to be later depreciated

[Christian Kluge]

Hi,

Am 13.07.2018 um 23:02 schrieb Jeremy D:
> Hi Geert, Frank,
> 
> First of all, I really appreciate the feedback.
> 
> 
> 
> 
> 
> 
> 
> 
> *assets:         VAT reimbursable                 Buys @ full rate: 21%
>             : liabilities:         VAT                 Sales: 21%
>       Import with VAT ID: 21%*
> 
> This resembles more or less what my accountant told me to do. Also he
> strongly advised against the use of foreign VAT accounts for any of my
> purchases (as a matter of fact I still have only two accounts - VAT
> Receivable/VAT Payable -, and both are in use for Belgium). That's why
> there's no tax table in the example sent, I just added and subtracted the
> VAT manually. However, this solution creates a problem in that the
> Liabilities placeholder account now has increased so much and I don't know
> what the next step is.

You would have to add two lines with a clearing account that cancel each
other out, one with a tax table and the other without to adjust your
liability. Also depending on your tax forms I might add different input
and output vat accounts for all different reverse charge cases.

I’m wondering why you didn’t come across this earlier. Don’t you use
other services in the sense of VAT provided by companies from third
countries or the EU, like some online services? Has Amazon always
shipped from a Belgian warehouse or did they ship from Germany and in
the end have provided you with technically wrong invoice since they
didn’t know better? All these are cases where this whole reverse-charge
thing also should apply if the Belgian laws are similiar to German ones,
which they should be thanks to the EU VAT directive.

> > My accountant and I created the example in my first message together but,
> as he isn't familiar with Gnucash (he found it very difficult to use), I'm
> afraid it might contain errors.>
>

Only minor ones in case of the German places names in your Vendors: Here
have some umlauts and sharp-s: äöüßÄÖÜẞ :-).


> I'm not an accountant by any means but I at least want to be able to
> understand what I'm doing with regards to Gnucash.
> 
> If it's not too much trouble, would you perhaps be so kind as to send me
> one finished example of the former? Just to make sure I'm understanding
> this correctly. I'm providing an early copy of my own Gnucash file in
> attachment (I deleted all transactions first but all accounts necessary are
> still there).

I hope my take at your example will help.

> 
> *I hope, you did not, because negative amounts are reserved for stornos.*
> 
> You mean, like in the case of a reimbursed expense?

Storno is the German word for a reversal transaction.

> 
> Thanks for the support!
> 
> Jeremy


Kind regards

Christian

P.S.: I might like to remind everyone that bug 735408 is really
annoying. Why can’t you add a link to original invoice to a transaction
created by the business module. You might be asked to show your receipt
for a particular transaction and how nice would it be if was just one
click away without going through folder structures?a
-------------- next part --------------
A non-text attachment was scrubbed...
Name: gnucash_jeremy.gnucash
Type: application/x-gnucash
Size: 6472 bytes
Desc: not available
URL: <http://lists.gnucash.org/pipermail/gnucash-user/attachments/20180714/d7abd2c8/attachment.bin>