Accounting

The following section compares the different calculation methods and the results with the help of an example.
In our example fabrics were sold. Several panels of the same fabric were bought, but with different widths. The widths are 50 cm and 30 cm. The 50 cm panel was bought 8 times and the 30 cm panel 7 times. 30 centimetres cost € 2.187 and 50 centimetres cost € 3.645. The prices are calculated based on a price of € 7.29 per metre. The settings that have be carried out to get one of the results are also listed in the table.

Proceed as described below to create a new location. Furthermore, you need to set one location as your default location. Your default location is your head office, so to speak.

Each location is divided into the following 3 submenus:

The submenu Settings contains the ID, the name and the country of the location. The Accounting submenu contains several sections. In the Documents submenu, you can find the old menu for setting up location-specific documents such as invoices and delivery notes. The DocumentBuilder is now the main menu for document creation. Fur further information, refer to the Order documents page of the manual.

You can only delete a location if another location exists. It is not possible to delete the default location.

If you are a small business owner in Germany and you do not want VAT to be applied to your invoices, then activating a setting in your basic settings is all you need to do. However, even though the VAT is not applied, you still need to save the correct VAT rates in your settings for a correctly functioning system. .

For deliveries within the EU, you can choose whether customers with a VAT number should receive a net invoice or a gross invoice. In many cases the information of the delivery’s recipient are of higher priority than the ones of the invoice’s recipient. The delivery address has to be in another EU country if you want to issue a net invoice. For deliveries within the same member state of the EU the VAT is always applied regardless of the selected setting. To prevent this, you have to enclose an entry certificate in the delivery and have to select this option in the order within the delivery address. If the customer does not have a VAT number, this means that it is a private purchase and that VAT is applied anyway. The only time VAT is not applied for private purchases is if you are a small business owner as described above.

For each accounting location you can individually define whether the invoice for export shipments should be net or gross. The basic assumption is that your business is based in the European Union. The setting is applied if the delivery is sent to a country outside the European Union. If the invoice is a net invoice, your customers receive an invoice without VAT.

The Reverse charge procedure, also known as the Deduction procedure, is a special sales tax regulation. If the procedure is applied, the recipients (= your customers) are liable for the VAT and not the merchant or company providing the service (= you as a merchant or your company). The reverse charge procedure is only applicable to B2B deliveries. If it is applied, it is necessary that

This setting is dependent on location, which means that you can decide separately for each location if the procedure is to be applied. The Reverse charge procedure is deactivated by default, i.e. No is selected for every location. If you want to activate this option, go to the Setup » Client » [Select client] » Locations » [Select location] » Accounting menu. In the Basic settings section under Business VAT management » Reverse charge procedure, select the option Yes. Also consider the explanations in Table 4.

From the 01/07/2021 on, there are no more different delivery thresholds within the EU. Instead, a common delivery threshold of € 10.000 for all B2C deliveries applies.
If you sell to other EU countries and exceed this delivery threshold, you are liable for VAT in other countries. How much VAT you have to pay in which countries depends on the individual transactions. The settlement of VAT for B2C deliveries can be handled centrally via the One-Stop-Shop (OSS) procedure and is then no longer carried out individually for each EU country. The reporting period here is always per quarter and the payment period ends 30 days after the end of the reporting period.
In Germany, the Federal Central Tax Office is responsible for the OSS procedure. You can also register for OSS  directly with them. You can find all information about OSS here . Participating in the OSS is not compolsory. We recommend to discuss with your tac office whether participation makes sense for you.

To represent all this in PlentyONE, you need to implement two things in particular:

In the forum post Deadline 01/07/2021: FAQ on EU VAT, harmonisation of delivery thresholds, OSS & Co you will find further information and a combined thread with FAQs, which is constantly being expanded.

In PlentyONE, the disctinction between locations and delivery countries in which you are liable to pay tax is important. An accounting location is a registered business address. 2 accounting locations exist per default in PlentyONE. The default locations are Germany and United Kingdom. You need one location at the very least and you can add further locations for each of your subsidiaries. The 2 default locations include default VAT configurations with VAT rates etc. However, do not use these configurations for the productive mode of your system. Add your own configurations and delete the default ones. You need to set up at least one configuration.
You can use this configuration to ship worldwide. However, you need to add further configurations for your delivery countries within the EU as soon as you exceed the delivery threshold for a EU country. You add locations for company headquarters and the country of the location with VAT configurations for correct accounting.

In the table, all active configurations are displayed with a green dot. This means that this configuration is currently active. If a grey dot is displayed, the configuration is inactive. This is the case when the invalid from date has been reached.

The buyer’s VAT rate must be used for digital items. An EU regulation put these VAT rates into effect on 01/01/2015\. If a VAT rate is already available for a country of delivery it is not necessary to create an additional VAT rate for digital items only. The existing VAT rate is used. If no VAT rate is set up for one or more countries of delivery, then set up your accounting procedures in PlentyONE as described below.
The EU regulation applies to B2C revenues. B2B revenues without VAT are not affected

Posting keys are relevant for DATEV exports. If you do not work with DATEV, you can skip this chapter. Posting keys are called tax key in DATEV and are required for the correct transfer of posting information. here are some standard tax keys in DATEV. he standard tax key from the two standard charts of accounts 03 and 04 for 19 % VAT in Germany is 3. PlentyONE automatically determines whether it is dealing with a debit (D) or credit © posting. This information is included in the export. The information is displayed in a separate column in the export.

You set up debtor accounts to book your pending amounts. You can choose a criterion that is used to book pending amounts on debtor accounts. As a criterion you can for example use the names of the debtors or the country of delivery. Choose a criterion first and then enter the actual accounts.

You set up revenue accounts to book your revenues and to assign them to accounts. You can enter accounts for revenues that are liable to VAT and for revenues that are exempt from VAT.

With this configuration for revenue accounts for revenues liable to VAT, selected VAT rates are assigned to a specific revenue account. But what do you do if a VAT rate temporarily differs or changes, as was the case for the temporarily lowered VAT rates in Germany in 2020, for example? In this case, you enter the corresponding revenue account directly in the VAT rate configuration which displays the differing VAT rate. In the system, these then have priority in the determination of revenue accounts. For this, pay attention to the table entry Revenue account (optional) in the chapter about setting up VAT rates.

Orders generated in PlentyONE POS are assigned to the revenue accounts saved in PlentyONE. Because deposits, withdrawals and till count discrepancies are not orders, you can save booking accounts for these POS events. For further information on how to save booking accounts for POS events, refer to the Integrating PlentyONE POS page of the manual.