Frederic:
It seems the treatment is different depending on the country
In Argentina, prepayment should be taxed with VAT at the date of the
prepayment. In fact, VAT rate for the prepayment could be different as
the final VAT of the actual good (and this is a challenge for the
proper registration of the whole operation).
That's why it is important for customer to invoice the prepayment
separatly from invoice of the actual goods (part of the payment could
be considered by the customer as fiscal credit, and thus effective
prepayment is reduced - as much as 21% actually!).
I beleive OpenERP should take into consideration the possibility of a
different country specific treatment (to be configured or adapted on
country specific modules), and thus on prepayment invoice to have
posibility of using a different AR account
Regards
2013/11/20 Frédéric Clementi <frederic.clementi@xxxxxxxxxxxxxx
<mailto:frederic.clementi@xxxxxxxxxxxxxx>>
Hi Gustavo,
Please see my comments below :
2013/11/20 Gustavo Adrian Marino <gamarino@xxxxxxxxx
<mailto:gamarino@xxxxxxxxx>>
Let me add other reason why prepaid account is used (at least
here in Argentina)
When you invoice the prepayment, VAT credit could be used by
the customer.
No, payment date is not relevant regarding VAT. The VAT is due at
the date of the transfer of property witch is in our case the date
of delivery. This is why invoices are usually dated at the same
date than the delivery.
That's why at cancellation of the final invoice (the one you
send once the goods are actually delivered), you emit a credit
note for the prepayment (generating the counter movement to
the prepayment, leaving the money to be applied to the final
payment and reverting the fiscal debt due to prepayment VAT)
and you use the customer credit to cancel the final invoice
This mechanism is independent of the fiscal year cut-off and
allows you to correctly treat prepayment as a debt you have
with your customer till the sending of the goods/services
yes, cut-off entries are totally independant from vat treatment
Regards
--
Gustavo Adrian Marino
Mobile: +54 911 5498 2515
Email: gamarino@xxxxxxxxx <mailto:gamarino@xxxxxxxxx>
Skype: gustavo.adrian.marino
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