[Date Prev][Date Next][Thread Prev][Thread Next][Date Index][Thread Index]


On Mon, 2011-08-08 at 10:15 -0700, Chris Travers wrote:
> On Mon, Aug 8, 2011 at 8:34 AM, lrspares45 <..hidden..> wrote:
> > Each country has it's own VAT rate, so for the UK I just set the current
> > rate in taxes, and use the 'start date' for changes. This seems to work
> > ok.
> Ok.  What goods and services are taxable at what rates are also set by
> the country, right?

Yes, e.g childrens clothes and books are VAT-free in the UK, and
gas/electricity are at a separate 5% rate. For 'Parts' I just use the
tick-boxes, having set up an additional 'VAT 0%' and 'VAT-5%' tax

> >
> > If sending goods to other EU countries, UK VAT is charged at the usual
> > rate, unless the customer provides a VAT number, in which case the goods
> > are supplied VAT-free, but sale has to be recorded on a supplemental VAT
> > form.
> Is this a cash-basis form like the 1099 form in the US?  or is it
> accrual basis?  In other words, if you make the purchase at the end of
> one year and pay for it the next year, which year do you report it on?
> I ask because in LedgerSMB 1.3 we have the ability to track purchase
> items that have to be recorded on a customer or vendor-specific tax
> form.  Right now the only tax form supported is the US 1099 form, but
> the reporting could be modified to provide similar reporting of line
> items for other forms.

As far as I'm aware, VAT is all based on invoice date (receipt for a
shop), not actual payment.

> Helps a great deal.


> Best Wishes,
> Chris Travers
> ------------------------------------------------------------------------------
> BlackBerry&reg; DevCon Americas, Oct. 18-20, San Francisco, CA
> The must-attend event for mobile developers. Connect with experts. 
> Get tools for creating Super Apps. See the latest technologies.
> Sessions, hands-on labs, demos & much more. Register early & save!
> http://p.sf.net/sfu/rim-blackberry-1
> _______________________________________________
> Ledger-smb-users mailing list
> ..hidden..
> https://lists.sourceforge.net/lists/listinfo/ledger-smb-users