VAT

 

QUARTERLY BILL

The federal department of finance sends out an empty form for the VAT invoicing to all liable companies each quarter. This orange form needs to be completed with our revenue, revenue tax and pre-tax. The amount due is to be paid to the state.

The swiss VAT is invoiced quarterly. The invoicing relies on a correct accounting which requires a couple of weeks after the end of a quarter.

 

TRANSFORM TO THE FORM

In detail, the following entries are to be made. In Tryton create the report > Financials > Accounts > Reference Number Ledger. Choose the method ‚booking period‘ and looks for the 3 months of the respective VAT quarter.

The following numbers belong into the numbered fields of the orange VAT form:

Paragraph Revenue:

      • 200: Sum of the amounts from „221-Net$2 + „230-Net“ + „301-Net“
      • 221: Amount from „221-Net“
      • 230: Amount from „230-Net“
      • 289: Amount from „221-Net + 230-Net“
      • 299: 200-289

 

Paragraph Tax Calculation:

      • 301 Revenue: Amount from „301-Net“
      • 301 Tax: Amount from 301-Tax“
      • 399: Amount from „301-Tax“ (Total VAT due)
      • 400: Betrag from „400-Tax“
      • 405: Betrag from 405-Tax“
      • 415: Amount from „415-Tax“ (minus our own consumption)
      • 479: „400-Tax“ + „405-Tax“ - „415-Tax“ (total of our deductible pre-tax)
      • 500: Difference of VAT and pre-tax, 399 - 479

 

MAILING

      • Scan the completed orange form for digital filing. The grey copy is not necessarily needed.
      • The amount from filed 500 of the from is transferred to the payslip and the amount is paid on time.
      • The orange form is packed in the reply envelope and sent back.

 

PAYMENT RECORD

VAT invoices need to be recorded as a special form of supplier invoice. They cannot simply be recorded as expense.

      • Invoice date is always the last day of the VAT period (in Q3, 30th of September).
      • The invoice has 3, 4 or 5 lines.

 

Position

      • Do not choose an Item. Enter account 2200. As positive amount enter the total of the VAT due (debit 2200). Text „Debit 2200 - total VAT, form. Pos. 399“.
      • Do not choose an Item. Enter account 1170. As negative amount enter the total of the pre-tax 1170 according to the VAT form (credit 1170). Text „Credit 1170 - Pre-tax Goods and Services, Form position 400“.
      • Do not choose an Item. Enter account 1171 (credit 1171). As negative amount enter the total amount of pre-tax 1171 according to the VAT form. Text „Credit 1171 Pre-tax Investments and other expenses, form position 405“.
      • Do not choose an Item. Enter account 1171 (credit 1171). As positive amount enter the total amount of pre-tax 1171 a „mixed use, own consumption“ according to the VAT form. Text „Credit 1171 Pre-tax  Correction for Consumption and mixed use, form position 415“.
      • Optional: If we have received a credit from the previous accounting period, we can deduct this amount.
      • Do not choose an Item. Enter account 2200. Enter as a negative amount the credit of the VAT (credit 2200). Text „VAT Credit of the VAT period 201X-XX“.
      • The calculated total of the invoice should match the VAT amount due.

 

Annual Closing

I case of the annual closing it may occur that you have some credit. In this case you do not create a a supplier invoice but a supplier credit slip.