Minimum limit on VAT sales & purchases in Lithuania In Lithuania there is no lower limit on sales and purchases, all VAT transactions must be declared, invoice by invoice. Types and rates of VAT In Lithuania, there are numerous tax rate types that are reflected in tax declarations. Below you will find the description
Minimum 150€ limit on VAT sales & purchases in Latvia In Latvia, if you are VAT liable, according to law, your company has to declare all sales and purchases with VAT done for more than a 150€ with one vendor/customer, every single invoice. This is done in order to prevent the VAT fraud. Your regular
In small companies purchase invoices are mainly paid by the company owner, who controls the expenses and only pays what needs to be paid. In larger companies invoices are normally paid by the accountant, who is usually not aware of all expenses and tends to pay anything that is brought to their desk. In this
Businesses have to deal with credit invoices every day: imagine you purchased a product, but it turns out it does not fit you or it has a defect, or there is another reason to make you return the good to the seller. Or vice versa – your customer wishes to return the product they purchased.
How often do you happen to pay or issue identical invoices? Let’s say you are an accounting firm that charges the same monthly fee to it’s client. Or you might have a client overseas, who consumes the same amount of goods or services every month and pays you in a different currency. In this case
It is now possible to attach files to transactions in ERPLY Books. Let’s have a closer look at this new feature and see what benefits it provides. What is a correcting entry? It’s a journal entry that is made to fix a wrongly entered transaction that you had previously added to the general ledger. For