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VAT Invoicing in Next

This article describes the VAT invoicing feature in Next, which is used for insurance jobs where only the VAT is invoiced to a company. The article walks through the workflow for creating a VAT invoice, how the accounting entries are handled, and the limitations and prerequisites that apply to the feature.

VAT invoicing is used when you have performed insurance jobs and are only allowed to invoice the VAT to a company (not to private individuals). This makes it possible to deduct the VAT. As a user, you can therefore send an invoice that consists of 100% VAT.

To make this possible, there is a special invoice type in Next called a VAT invoice.

Workflow

  1. A VAT invoice is created in the invoice module. Click the black arrow built into the green plus button — this opens a dropdown menu where you select Add VAT invoice.

    Knapp för att lägga till momsfaktura i affärssystem

    Invoice dialog — use the button to add a new VAT invoice.

  2. Fill in the information in the dialog as shown below.

    Dialog för momsfaktura med fakturarubrik, konto och belopp

    VAT invoice dialog — make sure the correct VAT account and amount are entered.

The result is that the invoice is created with an invoice line for value added tax, with accounting entries and amount as specified.

Fakturarader-flik med momsrad i affärssystem

Invoice lines — note the ability to add and edit lines.

When you print the invoice, net 0 and VAT 100% are displayed. The amount to pay corresponds to the VAT amount.

Fakturaunderlag i svenskt affärssystem med betalningsinformation

Invoice document — verify that the net amount and VAT amount are correct before sending.

Revenue Accounting

A VAT invoice does not generate any revenue but is posted against a balance sheet account and a turnover account.

Example of accounting entry: Debit 1510, Credit 2641.

Intäktskontering — visa resulterande kontering dialog öppen

Revenue accounting: click 'Show resulting accounting entry' to review the account verification.

Prerequisites

This feature currently only works with the Next API. This means that you as an integrator can build support for the feature. More information about how to identify a VAT invoice in the API will be made available in the future.

Limitations

There is no support for transferring a VAT invoice via Next Connect or Cloud Link. If you want to use the feature together with, for example, Fortnox, you will need to manually post the invoice and enter the external invoice number yourself before locking. If you have questions about creating invoices directly in an accounting system, we recommend that you contact your accounting system provider.