In this topic Where is the custom VAT report that I made? - #53 by Hennie I found some information about how to apply de dutch KOR rule. But I do not understand how I can implement this. Can somebody help me out and explain what I have to do?
This is what I found:
“Debit the account VAT to be paid to zero, and credit the account KOR with the same amount.”
I have no idea where or how to set the “account VAT to be paid” to zero, and how to add only the KOR amount to the credit side…
If I understand it correctly - to do this transaction you would create a Journal.
On the first line you would select the VAT Account and enter the debit amount to make the account zero.
On the second line you would select the KOR Account and enter the credit amount to match.
If you don’t have a KOR account, then you need to create it, go to Settings - Chart of Accounts and on the P&L side select New Account, enter name and select Group as Income.
It is a little bit more complicated than in your answer. If on an annual basis when the VAT-amount to be paid is less than a certain amount, you don’t have to pay VAT tax at all, If it is between certain levels, there is a limited tax deduction. Then there is the possibility to ask per quarter a preliminary deduction when you expect the annual amount to be below certain levels.
Anyway you can’t debit the VAT to be paid account to zero. What you need to do is to create an P&L-income account called KOR-regeling. By means of a journal entry (memoriaalboeking) you can enter per quarter the appropriate KOR-amounts or a journal entry once per year when you have calculated your total VAT for the year.
You debit the “VATto be paid account” and you credit the P&L account for the same amount.
I hope I made it clear to you. When not, send me a private message’. I am a Dutchman.
@Hennie and @Brucanna, tnx for the reply. I will go on in dutch Hennie because I still have some questions.
Op dit moment val ik nog onder de eerste grens waardoor ik niks hoef af te dragen. Dus voor nu is een eenmalig boeking over het hele jaar de oplossing. Zou je het eventueel voor mij in het Nederlands nog willen toelichten? Ik probeerde je te mailen maar via het forum lukte dat niet. Vandaar even via deze weg.