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SuiteWorld brings thousands of innovators, builders, and leaders together to learn, connect, and shape what’s next. This October, explore how to build a stronger foundation for growth through inspiring keynotes, major product reveals, hands-on sessions, and unforgettable moments—all in one place for our biggest event of the year. Join us
Non Deductible VAT
Hello all,
We are facing an issue regarding a partially deductible VAT.
A client in the investment/trading business can only claim a percentage of the VAT in purchase transactions. Although, the percentage is not fixed for every month.
Also, when reverse charge tax code is applied to a transaction, a percentage on the vat on purchases needs to be allocated back to the expense account.
Suitetax feature is not enabled.
Have anyone faced this before? Can you please assist?
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