VAT Counterpart Account
| Lines of Code | 102 |
| Technical name | to_vat_counterpart |
| License | OPL-1 |
| Website | https://viindoo.com/apps/app/15.0/to_vat_counterpart |
| Read description for | v 10.0 v 11.0 v 12.0 v 13.0 v 14.0 v 16.0 v 17.0 |
| Required Apps | Discuss (mail) Invoicing (account) |
| Included Dependencies | Tax Is VAT Accounting Customization |
| Extensions | Foreign Trade, Logistics Vietnam - VAT Counterpart Account |
Demo video: VAT Counterpart Account
Key Features
In some cases where we do not have a counterpart account for a tax entry, this module adds the VAT Counterpart Account field on the tax form to solve the issue.
For example, according to Vietnam Accounting Standards, account 33312 (VAT Payable for Imported Goods) must be reconciled against account 1331 (Deductible VAT).
Editions Supported
- Community Edition
- Enterprise Edition
Installation
- Navigate to Apps.
- Search with keyword to_vat_counterpart.
- Press Install.
Note: The account module will be automatically installed together with the to_vat_counterpart module.
Instructions
Key features
This module adds the VAT Counterpart Account field on the tax form.
Usage
Example:
1. Journal entries created during the importation activity:
Journal entry for the Import Tax:
- Debit 151/156: Total tax value (minus VAT);
- Credit 3333: Import Tax.
Tax payment:
- Debit 33312: VAT Payable for Imported Goods;
- Debit 3333: Import Tax;
- Credit 111/112.
Deduct VAT Payable for Imported Goods:
- Debit 1331: Deductible VAT;
- Credit 33312: VAT Payable for Imported Goods.
2. Steps to follow in the system:
Step 1: Configure Import/Export taxes in the software.
Step 2: Steps to process imported goods, check generated journal items.
Note: To be able to work on this example and see all the generated journal entries, you need to activate the developer mode and install the following modules:
This software and associated files (the "Software") may only be used (executed, modified, executed after modifications) if you have purchased a valid license from the authors, typically via Odoo Apps, or if you have received a written agreement from the authors of the Software (see the COPYRIGHT file).
You may develop Odoo modules that use the Software as a library (typically by depending on it, importing it and using its resources), but without copying any source code or material from the Software. You may distribute those modules under the license of your choice, provided that this license is compatible with the terms of the Odoo Proprietary License (For example: LGPL, MIT, or proprietary licenses similar to this one).
It is forbidden to publish, distribute, sublicense, or sell copies of the Software or modified copies of the Software.
The above copyright notice and this permission notice must be included in all copies or substantial portions of the Software.
THE SOFTWARE IS PROVIDED "AS IS", WITHOUT WARRANTY OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO THE WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NONINFRINGEMENT. IN NO EVENT SHALL THE AUTHORS OR COPYRIGHT HOLDERS BE LIABLE FOR ANY CLAIM, DAMAGES OR OTHER LIABILITY, WHETHER IN AN ACTION OF CONTRACT, TORT OR OTHERWISE, ARISING FROM, OUT OF OR IN CONNECTION WITH THE SOFTWARE OR THE USE OR OTHER DEALINGS IN THE SOFTWARE.