And this is how it works...
Overview
Initial situation: you start with Accounto and want to create the open accounts payable and accounts receivable in the system of the new fiscal year.
You have two options to do this:
You want to see the open items accounts payable/accounts receivable in Accounto as of the beginning.
You do not want to see in Accounto the open items Vendors/ Customers at the beginning but you want to post the VAT. Total.
Why this process must be followed and what is the starting point for you. You are liable to VAT and you account for it as collected ( settlement at the time of payment of an invoice (customer or vendor).
In order for the VAT. In order for VAT accounting to work in the new year, the VAT base must be present at the time of the transfer.
Variant 1:
I want to see in Accounto the open items creditors per beginning.
I want to see in Accounto the open items debtors per beginning.
What is needed:
Open items creditors at the end of the fiscal year
Open items debtors at the end of the fiscal year
VAT. Evaluation of all open VAT Input taxes and sales taxes
This is how you proceed:
In the previous year, post all open items (debtors and creditors) to the appropriate accounts at the end of the fiscal year, thus all entries will have a VAT. Code and the income statement is also posted.
The closing balance sheet and the income statement at the end of the fiscal year are entered, minus the difference, which is entered. The total of the balance in Accounto as per previous year should be the same as the closing balance from the previous year.
When the open item is paid, the VAT is automatically posted and settled in the corresponding period.
Variant 2:
Reconcile the VAT. Input tax and VAT at the end of the fiscal year as well as the open items.
You do not want to see the open items creditors
You do not want to see the open items debtors
VAT is booked as a total
What is needed:
Vendors open items at the end of the fiscal year
Open items debtors at the end of the fiscal year
VAT. Evaluation of all open VAT Input taxes and sales taxes
This is how you proceed:
In the previous year, the closing balance sheet with income statement is booked. For the input tax accounts 1170 and 1171 and the VAT account 2200, the amounts are booked according to the VAT evaluation by code. Evaluation by code, which will then be added to the next VAT statement and settled. This is then added to the next VAT statement and settled.