Results 1 to 6 of 6

Thread: Vat on price won on the customer invoice?

  1. #1
    New Member
    Join Date
    May 2020
    Location
    Cape Town
    Posts
    3
    Thanks
    0
    Thanked 0 Times in 0 Posts

    Vat on price won on the customer invoice?

    Good Day,

    I trust that somebody can assist, please.

    A customer won a price, the value of the price is used to reduce the value of the purchase on the invoice for the customer.
    Is this treated the same as a voucher?
    The purchase value on the sale invoice is reduced with the value of the price but no vat is calculated on the price value?
    Is it better to process the price value against discount allowed or is it necessary to create a different ledger account?

  2. #2
    Diamond Member adrianh's Avatar
    Join Date
    Mar 2010
    Location
    Cape Town
    Posts
    5,372
    Thanks
    358
    Thanked 836 Times in 669 Posts
    Prize?
    “Why, sometimes I've believed as many as six impossible things before breakfast.”
    ― Lewis Carroll, Alice in Wonderland

  3. #3
    Site Caretaker Dave A's Avatar
    Join Date
    May 2006
    Location
    Durban, South Africa
    Posts
    21,953
    Thanks
    3,169
    Thanked 2,566 Times in 2,164 Posts
    Blog Entries
    12
    Terminology matters.

    With a discount, this would affect VAT.
    With a shopping voucher, the voucher helps pay towards the cost of the item, but the price of the item and the output VAT remains unchanged.

  4. #4
    New Member
    Join Date
    May 2020
    Location
    Cape Town
    Posts
    3
    Thanks
    0
    Thanked 0 Times in 0 Posts
    The value of the price is only R500

  5. #5
    New Member
    Join Date
    May 2020
    Location
    Cape Town
    Posts
    3
    Thanks
    0
    Thanked 0 Times in 0 Posts
    This was a price that a customer won online.
    The customer want to use the value of the price to reduce whatever is purchased in the shop.
    My understanding is that this will fall into the same category as a voucher.

  6. #6
    Site Caretaker Dave A's Avatar
    Join Date
    May 2006
    Location
    Durban, South Africa
    Posts
    21,953
    Thanks
    3,169
    Thanked 2,566 Times in 2,164 Posts
    Blog Entries
    12
    Quote Originally Posted by adrianh View Post
    Prize?
    Sounds like it

Similar Threads

  1. [Question] Enforce CN has to be linked to Customer Invoice
    By michellepace in forum Accounting Forum
    Replies: 3
    Last Post: 16-Sep-19, 08:04 AM
  2. [Question] Change Customer on Invoice
    By Teresa V in forum Accounting Forum
    Replies: 1
    Last Post: 30-Nov-16, 11:44 AM
  3. [Question] Posting invoice from our customer
    By motherfive6007 in forum Accounting Forum
    Replies: 1
    Last Post: 08-Apr-16, 12:29 PM
  4. Replies: 8
    Last Post: 16-Mar-14, 09:22 AM
  5. [Question] Customer Tax Invoice
    By jackie.white in forum Accounting Forum
    Replies: 1
    Last Post: 09-Jul-12, 04:20 PM

Did you like this article? Share it with your favourite social network.

Did you like this article? Share it with your favourite social network.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •