EC Imports
Here is how you would process EC Imports through the Purchase Ledger
Setting Up Supplier Account
To start you will need to create a Supplier Account in the Purchase Ledger > Suppliers
Enter in their standard details i.e. Company Name, Address, Phone Number etc
When you get to the VAT Reg No field, you will need to enter in their VALID VAT number otherwise the system will not register the account and transaction as an EC Imports
Examples below:
| Country | Country code | Format |
|---|---|---|
| Spain | ES | X12345678 12345678X X1234567X |
| Sweden | SE | 123456789012 |
| Switzerland | CHE | 123.456.789 |
| United Kingdom | GB | 123456789 |
When you click into the VAT Reg No box, a message will appear prompting the above
Posting Invoice/Credit Note to Supplier Account
To post an invoice or credit note to the supplier account you will need to do the following:
- Go into Purchase Ledger > Postings > Invoices/Cr Notes
- Enter the Posting Date and Default Due Date if required
- Enter the Supplier Account
- Fill in the Posting Details as you would normally through a standard posting
- When you get to the VAT Value enter in the amount which is showing on their Invoice or Credit Note
- A message will appear as shown below to confirm the VAT Value you have entered is correct for this import supplier (if you have entered it in wrong click No) otherwise click Yes
- Carry on as you normally would through the Narrative, Terms etc
- On the next page you will then need to allocate the Nominal Code you wish for this to be posted to, Once selected and the value has been entered you will then come to the next stage
- You will be displayed with the Import Details screen where you enter the VAT Rate, Value, if this is VAT Deductible and the Tax Point (see below, please note VAT Rate and Values etc are examples only and please ensure you select the correct Rate and Value for your posting)
- Once you have completed the posting, click OK
- You will then displayed with the message below, Click Yes (or no if you need to re-enter the details)
- Then Click Yes to confirm all ok
When you go into the Supplier Account and into Transactions, Highlight the transaction and click on Drill, you will see from here that it has posted the following transactions to the nominal (these will differ depending on the codes and descriptions you use on your system, this is an example only)
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