Hi Lubos,
We’re almost there.
There is a line on the VAT tax form called "5d “Vermindering volgens de Kleine Ondernemers Regeling” also well-known in Dutch as “KOR”. I’ll explain what this means: in case (on annual basis) the total tax amount to be paid at line 5c , is less less than € 1345.- Dutch VAT-law says that this amount is cleared. So the business doesn’t have to pay this amount at all. When the total at line 5c is between an amount of € 1345.- and 1884,- a certain part of this amount has to be paid and when the annual amount is higher than € 1884.- the VAT should be paid in full. Anyway the amount that is cleared has to be shown in the P&L as a profit. So I suggest that you add an extra VAT-code called “KOR” and that a general ledger account number has to be added as well so that this profit is automatically shown in the P&L
A journal entry could then be made like this
Debit Accountnr - VAT to be paid - Amount of the KOR (Balance)
Credit Accountnr - KOR - Amount of the KOR (P&L)
Kind regards,
Hennie