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  13. (Accounting) Enter cash receipts...

(Accounting) Enter cash receipts with VAT in system currency

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The following describes the accounting transactions the system creates when you enter a cash order with VAT based items in system currency.

Prerequisites
Note: This cash receipt is paid cash, i.e. no credit card is used.

Quantity item 1 12
Quantity item 2 5
Sales price item 1 50.00
Sales price item 2 60.00
Discount on order lines 5%
Order discount on order header 10%
Cost price both items 25.00
VAT item 1 25%
VAT item 2 12%
Postage fee 80.00
VAT postage fee 12%
The Adjust inv amount in the Currency table for the SEK currency 1.00
System currency SEK

Created transactions

Transaction type Description Amount
Debit		 Amount
Credit		 Calculation/Result/Additional info
870 Sales value Gross VAT

(For Item 1)

   600.00
Sales price * Quantity

50.00 * 12 = 600.00
871 Line discount VAT

(For Item 1)

 30.00  
Sales price * Quantity * Discount on order line

50.00 * 12 * 0.05 = 30.00
872 Order discount VAT

(For Item 1)

 57.00  
((Sales price * Quantity) – (Sales price * Quantity * Discount on order line)) * Order discount on order header

((50.00 * 12) – (50.00 * 12 * 0.05)) * 0.10 = 57.00
960 VAT output of order lines

(i.e. VAT amount for the sales value of item 1)

   128.25
(Sales value Gross VAT – Line discount VAT – Order discount VAT) * VAT percentage of VAT handling code

(in SEK): (600.00 – 30.00 – 57.00) * 0.25 = 128.25
860 Cost of good sold

(For Item 1)

 300.00  
Cost price * Quantity

25.00 * 12 = 300.00

If the cost type is:

  • Standard cost, the cost price is retrieved from the Standard cost field in the Item file
  • Average purchase cost, the cost price is retrieved from the Average cost field in the Item file
  • FIFO, the cost price is retrieved from the oldest active FIFO transaction in the FIFO file.
901 Stock value

(For Item 1)

   300.00
Cost price * Quantity

25.00 * 12 = 300.00

The retrieval of the cost price is the same as described above for Cost of goods sold.
870 Sales value Gross VAT

(For Item 2)

   300.00
Same calculation as described in 870 above.

60.00 * 5 = 300.00
871 Line discount VAT

(For Item 2)

 15.00  
Same calculation as described in 871 above.

60.00 * 5 * 0.05 = 15.00
872 Order discount VAT

(For Item 2)

 28.50  
Same calculation as described in 872 above.

((60.00 * 5) – (60.00 * 5 * 0.05)) * 0.10 = 28.50
960 VAT output of order lines

(i.e. VAT amount for the sales value of item 2)

   30.78
Same calculation as described in 960 above.

(in SEK): (300.00 – 15.00 – 28.50) * 0.12 = 30.78
860 Cost of good sold

(For Item 2)

 125.00  
Same calculation as described in 860 above.

25.00 * 5 = 125.00
901 Stock value

(For Item 2)

   125.00
Same calculation as described in 901 above.

25.00 * 5 = 125.00
827 Postage VAT   80.00 This is the postage fee.
961 VAT output of order

(i.e. the VAT amount of the postage)

   20.00
Postage fee * VAT Postage fee

80.00 * 0.25 = 20.00
862 Coin adjustment   0.47
Total net sales value + Fees + Total VAT amount

Total net sales value in SEK: 600.00 – 30.00 – 57.00 + 300.00 – 15.00 – 28.50 = 769.50

Postage: 80

Total VAT amount: 128.25 + 30.78 + 20.00 = 179.03

Total in SEK: 769.50 + 80.00 + 179.03 = 1 028.53

Invoice total in SEK: 1 029.00

Coin adjustment in SEK: 1 028.53 – 1 029.00 = -0.47
863 CASH Cash box 1029.00  
The difference between all the amounts in debit and all the amounts in credit.

This is the amount the customer has paid and the amount that is printed on the cash receipt.

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