Surf Accounts enables you to generate the period-wise sales value of all zero-rated products or services to non-local EU customers, for example, customers based out of Sweden or Spain. According to VIES rules, all taxable non-local EU customers are required to pay VAT on the products or services. To generate the period-wise sales values, complete the following steps.
Creating Customers with Zero-rated VAT
In this step, you create a non-local EU customer so your sales to this customer are not subject to VAT and the customer pays the VAT.
- Create a customer and in the contact details, set the country as one of the non-local member EU states, for example, France.
- Click the Invoice Settings tab and under the DEFAULT INFORMATION heading, tick the VAT Exempt box and then select X- 0.00% (Exempt) from the DEFAULT VAT CODE box. This particular VAT rate will have 23% set as a notional rate.
- Save the customer record.
- Create sales invoices for this customer.
Generating VIES Report
In this step, you will generate the total sales value to non-local EU member state-based customers.
- Log in to Surf Accounts and click the required business.
- On the left panel, click General Ledger > VIES.
- The VIES page appears. Click New.
- The New VIES window appears. Select the report-ending period and click Save.
- On the Confirmation Message window, review the message and click Proceed, if you are happy with the outcome.
If you are generating your first VIES report of the tax year and there are pending VIES reports from the previous tax year as well, then VIES report includes that data as well. To avoid that, separately generate the VIES report of the pending period.
- The record shows the total transaction value reported under VIES for the selected period.
- To view details such as Customer name and VAT and total sales value, click for the corresponding VIES record and click Print.
- The VIES report shows the summary of the transactions under VIES. ;::
- To go back to the VIES page, click Back.
- If you are sure that the VIES report will not be updated for this period, you may tick Closed on the Edit VIES window and click Save.
9. The status changes to Closed. Note that a closed report cannot be amended.
You can also run the same report by going to Reports>GENERAL LEDGER>VIES Details.