Community mailing list archives
Re: Accounting best practice: change VAT rateby
Libertus Solutions, Alan Bell
Yes, add a new VAT rate. Also consider returns and refunds - if someone purchased at 8% then gets a return, would that be refunded at 10%?
On 16/12/15 12:04, Torvald Baade Bringsvor wrote:<blockquote cite="mid:CAGWx-g-cNrOwnpZNYta8VOkNtUhB=2J104Ew4jUK3OxoOnVJPg@mail.gmail.com" type="cite">
Here in Norway we'll have a change in one of the VAT rates from January 1st, from 8% to 10%. The change is supposed to be applied for goods delivered after January 1st.
So what would the best way be to handle this? It seems to me that a new VAT rate has to be created for the 10% so that the accountants can choose themselves when sending invoices if an invoice should have 8% or 10%. And also when receiving supplier invoices we need to be able to handle both for a period.
Does this seem reasonable or is there a better way? I mean I'll probably have to test the VAT report to ensure that everything runs smoothly...
Torvald Baade Bringsvor
Bringsvor Consulting AS - Odoo (formerly OpenERP) implementation partner