Revenue accounts and tax keys are pre-assigned in the interaction of product master data and contact master data (customer). Via
settings in the product master, a wide variety of combinations of tax issues, revenue accounts, tax rate types and tax codes can be mapped. Cross-border transactions and special VAT features are therefore easier to take into account.
The revenue account presettings are automatically adjusted depending on the tax situation. Tax rates are determined via their tax rate types stored in the product master, which can be country- or period-specific. Once you have made the appropriate default settings for your business transactions in the product master, revenue accounts and tax matters, you have set the course for automatic invoicing, which will save you a lot of time.
In this article, we explain the relationships and logic of our invoicing system in detail.
Settings in the product master
In the individual products, you store the information on the product and tax rate type as well as any individual revenue accounts. To do this, go to Organisation > Product management: Add to a new product or edit an existing one.
The product type
Scopevisio recognises 4 different product types. Goods, materials, services or rights are available. In the "Goods details" business object, select the corresponding product type.
This plays a role in the algorithm for selecting the correct revenue account and tax code.
Taxation
Only make entries in the "Taxation" business object if these differ from the standard rate or if you are also liable for VAT in other countries.
Excursus: The latter must be stored in your company settings under Organisation > Administration > Companies: Manage company so that they can be displayed in the product in the "Country code" selection list.
Back to the product: You can store country-specific tax rate types in the "Taxation" business object. Period-specific features (e.g. tax rate reduction for hotels and restaurants during the coronavirus crisis) are also possible. No more than one tax rate type can apply to a country for a specific period. Unless otherwise specified, Scopevisio assumes the standard rate. For Germany, only standard rate, reduced rate 1 or zero rate are possible; other countries may work with other variants, which can be found in the selection list of tax rate types.
The individual revenue accounts
If you use the standard revenue accounts, no further settings are necessary and you can save and close the product.
If you work with individual revenue accounts, you store these depending on a specific tax situation for the respective product. The tax situation arises in the individual billing.
To do this, set the "Use standard revenue accounts" setting to "No" and add the individual revenue accounts by clicking on the button of the same name. In the form that opens, define which revenue account is to be addressed for which tax matter.
The standard revenue accounts
Under Organisation > Master data > Accounting: Edit revenue account preallocation, you will find an overview of the extended standard revenue accounts. These are described here described in more detail here.
The combination of country, product type, tax rate type, tax fact and validity period results in a unique revenue account that is automatically set by Scopevisio in the item lines of a statement.
The tax facts
In the individual invoice, the "Invoice details" business object previously contained the "Tax base" field, which was of a purely informative nature and could not be edited. This has been replaced by the "Tax facts" field.
In the invoice, the tax facts are pre-assigned from a combination of data.
It is selected from the data entered under System menu > Manage accounting: Tax matrix: Edit tax matters predefined 4 standard cases, but can be adjusted manually in the individual payroll if required. Further tax matters are stored and can be activated additionally, new ones can be defined and created.
Determining the tax key
Scopevisio also uses algorithms to help you automatically determine the correct tax codes in the statement.
If the "Fixed tax key" indicator is set in the account master of the revenue account and a tax key is stored, this key from the G/L account master is used.
If the "Fixed tax key" indicator is set in the account master of the revenue account and no tax key is stored, a tax rate of zero is implicitly assumed.
If the "Fixed tax key" indicator is not set in the account master of the revenue account and a tax key is stored, Scopevisio first searches for a suitable line with a tax key in the tax fact matrix.
If a tax key can be determined via the matrix, this is set, regardless of the G/L account master.
If there is no matching row in the tax fact matrix, the tax key is taken from the G/L account master. If no key is stored, no key is used (implies a tax rate of 0%).
Scopevisio thus supports you with the described interaction of information from the product master, the revenue accounts, the tax facts and the tax keys to be able to map your different business transactions flexibly and algorithm-supported.