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The debtor billing details also require a taxation number to be specified for each type of tax that is applicable to the debtor. The tax types that are applicable to the debtor depend on the country to which the debtor belongs and are automatically applied to invoices that are issued to the debtor.
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If the debtor is exempt from a particular tax, an Is Exempt flag option can be set ticked against the relevant sales tax type in the debtor billing details so that the corresponding tax will not be applied to invoices that are issued to the debtor. Where that is the case, when the billing company that is linked to the debtor billing details issues an invoice to the debtor, the exempted taxes are not applied to the debtor’s invoices.
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If multiple rates can apply to the same type of sales tax for the debtor’s country, there can be multiple records configured in Billing > Maintenance > Taxation for each respective rate (for example, VAT 20%, VAT 0%). Where that is the case, the Is Exempt option in the debtor billing details can be used to prevent the sales tax rate that is not applicable to the debtor from being applied to their invoices. |
Custom Fields
If your business requires additional information to be captured against debtor records, custom debtor fields may be configured to capture the relevant additional information. Some custom fields may be configured to be mandatory, in which case you will need to key in information into the relevant custom fields before you will be able to save the debtor record. Custom fields are configured in Maintenance > Custom Fields, and made available for ‘Debtor’.
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