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paul j2
March 16, 2021
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domestic reverse charge vat

  • March 16, 2021
  • 1 reply
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Have we a definitive list of the QB standard VAT codes applicable for DRC transactions - sales and purchase

also

is there a proforma sales invoice to reflect the DRC including tax summary or rate - ive looked at amending a current invoice but the only thing i seem to be able to do would be add the Reverse VAT statement

and

how can the DRC be reflected on any DRC subcontract Purchase Order

 

many thanks

paul

 

Best answer by EmmaM

Hello Paul, Here is a list of the codes. There is no pro forma invoice however in the settings cog>custom form styles>if you click on the form names in the edit on the standard master you can rename the form pro forma and save it and then use that form. If you want to reference DRC you can use the description box or your message to supplier box.

1 reply

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EmmaMAnswer
March 16, 2021

Hello Paul, Here is a list of the codes. There is no pro forma invoice however in the settings cog>custom form styles>if you click on the form names in the edit on the standard master you can rename the form pro forma and save it and then use that form. If you want to reference DRC you can use the description box or your message to supplier box.

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paul j2Author
March 16, 2021

EmmaM

many thanks for the quick reply 

 

the VAT codes still do not seem to show the Domestic reverse charge

 

My use of the phrase "pro-forma invoice" is probably misleading -- what i should probably have said is a TEMPLATE (pre formed document) for a DRC invoice with all correct VAT information shown

 

Do you have an answer on the Purchase Order TEMPLATE to show the correct DRC VAT information ?

 

hope that has clarified some points

kind regards

paul

 

katherinejoyceO
katherinejoyceO
March 16, 2021

Thanks for coming back for more support, @paul j2. As an additional insight, the VAT summary is only available in sales forms such as invoices and sales receipts but not on the purchase order. 

 

You can find the list of VAT codes for DRC in this article: Common VAT codes. 

 

For future reference, read through this article: VAT: domestic reverse charge for building and construction services. It has answers to most of your DRC questions. 

 

Let me know if you have additional concerns. I'd be happy to get back and help. 

 

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