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Euro invoice, UK VAT due, must also show sterling


#1

Hi,

I have a UK business client, who requires invoicing in Euros but UK VAT is due at 20%.

Fromhttps://www.gov.uk/guidance/foreign-currency-transactions-vat-and-tour-operators
You can invoice in any currency for the goods and services that you supply. If UK VAT is due on the transaction your invoices must also show the following in sterling:

the total net value of goods and services at each VAT rate
the amount of VAT, if any, at each rate

I can create an invoice in Euros (although the draft preview doesn’t show the Euro symbol) but I cannot see how I can also show the total net and VAT values in sterling.

Grateful for any pointers…


#2

Hi @j.g

When you create an invoice in another currency (other than GBP), we automatically show the values in both the invoice currency and GBP, similar to this:

image

The editing page doesn’t show this, but when you preview the invoice it will be shown there for you.


#3

If the invoice has several lines at different VAT rates do you show both the net and vat for each rate separately, or just the totals?


#4

Thanks for your prompt reply. However, I am not seeing the totals with both currencies in the preview - I get this:

QF%20Euro%20invoice

Am I missing some setting or choosing the wrong invoice layout?


#5

Just checking this - there is a setting you should enable to show this. If you go to Account Settings >> Invoice Customisation, and click on the totals box, you’ll see this setting on the right:

@ian_roberts - Where multiple VAT rates are used, GBP and the invoice currency are both listed for each rate. So if you have both 5% and 20% on the invoice, you’ll see a line for both GBP and the invoice currency for 20% and again for 5%.


#6

Excellent! That fixed it - I now have dual GBP and EUR display of the totals.
Many thanks.


#7

For the net as well as the VAT amounts? What I’ve seen on invoices from suppliers who use other systems (sage, etc) is a “vat breakdown” section separate from the overall totals giving the net total and vat total for each separate rate (including zero). And that’s then how I enter it into QuickFile, with lines for “goods for sale: 0%” and “goods for sale: 20%”


#8

Yes - both net and VAT are shown in the two currencies.

That would certainly produce a cleaner look. I will pass this over to our development team, and maybe we can get it added in the future.