Invoice amount and invoice balance discrepancy

I’ve just set up a new account for one of my clients. I’ve raised 2 invoices who we are selling services to in Europe. The place of business is Europe so there is a reverse charge for the VAT. This is marked on the invoice.

However there are 2 problems:

  1. The amount on invoice 1 is 6000 however it’s showing balance due 5120?
    (unless - this has just occurred to me the 6000 is Euro and the 5120 is an estimation of the exchange rate?)

  2. It’s showing the reverse charge vat rate as 20% whereas in the Netherlands it’s 21%. Can you help.

Hi @Sara,

The 5,120 sounds like the GBP amount to me, it will be the GBP amount that goes on the nominal ledgers.

The VAT rate of 21% isn’t available on the account by default, however you can add additional VAT rates in Account Settings >> Advanced Features.