Frequently asked questions
Overview
Latvian VAT Reporting Localization is a business software solution developed by Elva Baltic for companies that carry out business transactions in Republic of Latvia and are registered as VAT payers.
Latvian VAT Reporting Localization is fully integrated with Dynamics 365 Business Central by extending its functionality and tailoring it to meet the requirements of local legislation and local business requirements.
The Application enables the user to:
- Create VAT Statement structure using local specifics
- Define transaction thresholds for VAT Statement Appendixes
- Prepare VAT Statement Appendixes
- VAT 1-1 Local purchase disclosure
- VAT 1-2 EU purchase disclosure
- VAT 1-3 Local sale disclosure
- VAT 2 EU sale disclosure
- VAT 3 Correction of EU sale disclosure
- Prepare VAT Statement file export together with VAT Statement Appendixes according to local legislation
Is a specific Role Center required for use of your application?
In order to use Latvian VAT Reporting Localization, no specific role center is required.
We received a purchase invoice with VAT standard rate for services from a Vendor for the amount 750.00 EUR excluding VAT and posted it. However there was a mistake in the invoice, therefore we posted corrective purchase credit memo, then posted the correct purchase invoice. In VAT Buffer I have all 3 documents, but there should be only 1. Why these documents appear in VAT Buffer?
All 3 documents are suggested for VAT Buffer Lines, however when documents are applied to each other - posted purchase invoice and corrective purchase credit memo, then VAT Buffer adds a checkmark in the field Skip of VAT Buffer Lines. This ensures that initial wrong document and correction of this document neither to appear in VAT Statement Appendix printout, nor the VAT Statement Appendix export file. Therefore only the correct purchase invoice will appear in VAT Buffer Lines.
I have successfully created VAT Buffer, checked it with Chart of Accounts and VAT Entries, then marked it as Released, in order to prepare for submission. But then received a delayed invoice from a Vendor, that is dated with the last day of reporting month, just before the submission deadline. How should I process it?
The purchase invoice needs to be posted with last day of the previous month as posting date. Because posting date drives VAT entries. Once the lines are created in VAT Buffer, they are not updated, if any postings are done within the period, that is collected inside the VAT Buffer. In order to update the lines in VAt Buffer it is required to press "Delete All Lines" in Ribbon, then press "Suggest Lines" once more.
After I have prepared VAT Buffer, I noted, that the VAT Registration No. of the counterparty was not completed. How can I fix this?
The best practice is to enter the VAT Registration No. in Customer/Vendor card, then recreate the VAT Buffer lines.
After I have prepared EC Sales List, I noted, that the VAT Registration No. of the Customer was not completed. How can I fix this?
It is required to go to VAT entries, press "Edit List" in the Ribbon, then find the VAT entry of the deal and add the VAT Registration No. here. Afterwards, recreate EC Sales List Report.
I have prepared VAT Return for a specific period, but when I try to export the file to Electronic Declaration system, I cannot assign the VAT Buffer and EC Sales List report - the lists are empty.
Only VAT Buffer and EC Sales List Report with status "Released" can be assigned to file export. The periods of VAT Return, VAT Buffer and EC Sales List Reports should match.