(Financial management > Settings > Accounting settings > Accounts used in default postings)

You can open the view by selecting Financial management > Settings > Accounting settings > Accounts used in default postings.

In order to handle purchase invoices from foreign vendors in Netvisor, the Purchases default accounts are defined in the accounting settings.

  • Make sure you are logged in to Netvisor and have rights to edit the accounting settings.
  • Select Financial management > Settings > Accounting settings > Accounts used in default postings.
  • In the Purchases default accounts section, find the accounts used for handling purchase invoices from foreign vendors.

In the default postings, accounts for community and non-community purchases (4110 and 4130) are defined, which are used as default accounts for vendors with a foreign country code, unless otherwise specified for the vendor. The numbering of accounts can be changed from the basic accounting information if necessary.

  • Account 4110 is defined as the account for community purchases.
  • Account 4130 is defined as the account for non-community purchases.
  • These accounts are used as default accounts for vendors with a foreign country code, if no other account has been specifically defined for the vendor.
  • If necessary, change the numbering of the accounts in the basic accounting information.



In the handling of a vendor purchase invoice, the user selects the applicable VAT rate on the purchase invoice row, and the VAT identifier according to the country code is suggested for use on the row. Changing the account does not change the VAT identifier if it is a foreign country code. However, the user can change the VAT identifier on the row if needed.

  • Open the vendor purchase invoice to be handled.
  • Go to the purchase invoice row on which you want to define the VAT details.
  • Select the VAT rate to be used on the row.
  • Use the suggested VAT identifier based on the country code on the row.
  • Note that changing the account does not change the VAT identifier if the vendor has a foreign country code.
  • If necessary, change the VAT identifier on the row to another identifier.

If the vendor is from the EU, the system suggests the identifier EUOS EU purchase and records the VAT receivable and VAT debt according to the VAT rate given on the invoice row. Thus, the actual purchase can be recorded on any accounting account.

  • Identify that the vendor is an EU vendor.
  • If necessary, accept the VAT identifier EUOS EU purchase suggested by the system.
  • Enter on the invoice row the VAT rate to be used, according to which the system records the VAT receivable and VAT debt.
  • Record the actual purchase on any accounting account you want.

If the vendor is outside the community, the system records the transaction with the identifier EUUO non-EU purchase at a 0% VAT rate, regardless of what the user may have entered as the VAT rate on the row.

  • Identify that the vendor is a non-community vendor.
  • Note that the system uses the VAT identifier EUUO non-EU purchase.
  • Take into account that the system records the transaction with a 0% VAT rate regardless of what VAT rate you have entered on the row.

Frequently asked questions

Question: Where do I define the Purchases default accounts for purchase invoices from foreign vendors?

Answer: Define the Purchases default accounts by selecting Financial management > Settings > Accounting settings > Accounts used in default postings, where the accounts for community and non-community purchases (4110 and 4130) are used for vendors with a foreign country code.

Question: Does the VAT identifier change if I change the accounting account on the purchase invoice row for a foreign vendor?

Answer: The VAT identifier does not change when the account is changed if the vendor has a foreign country code. However, you can manually change the VAT identifier on the row if necessary.

Question: Which VAT identifier does the system use on a purchase invoice from an EU vendor?

Answer: For an EU vendor, the system suggests the VAT identifier EUOS EU purchase and records the VAT receivable and VAT debt according to the VAT rate given on the invoice row, so the purchase can be recorded on any accounting account.

Question: What happens when the vendor is outside the community?

Answer: For a non-community vendor, the system records the transaction with the identifier EUUO non-EU purchase at a 0% VAT rate, regardless of what VAT rate you have entered on the row.

Keywords

Netvisor, Purchases default accounts, foreign vendor, foreign country code, accounting settings, default postings, community purchase, non-community purchase, account 4110, account 4130, purchase invoice, purchase invoice row, VAT rate, VAT identifier, EUOS EU purchase, EUUO non-EU purchase, VAT receivable, VAT debt, 0% VAT rate

This article has been translated using an AI-based translation tool. The contents or wording of these instructions may differ from those in other instructions or in the software.


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