According to Hungarian tax law of 2008, all tax-related documents that are prepared in foreign currency must also show the transaction amount in local currency. These documents include:

  • Invoices

  • Free text invoices

  • Project invoices

  • Credit notes

  • Corrective invoices

Companies are free to select the exchange rate used to calculate VAT for the VAT statement. The exchange rate selected for VAT calculation can be different from the exchange rate used for company accounting functions.

  1. Click Project> Setup> Forms> Form setupto open the Form setupform.

  2. Click the Invoicetab.

  3. In the Country-specific formfield, select Hungarian format.

  4. Press CTRL+S or close the form.

  5. Click Project> Common Forms> Project Details.

  6. On the Overviewtab, press CTRL+N to create a new line and enter the required details.

    Note Note

    For more information, see "Project Invoice form" in the Application and Business Processes Help.

  7. Click Invoice> Invoice proposalto open the Invoice proposalform.

  8. Click Sales taxto open the Temporary sales tax transactionsform.

  9. In the Date of VAT registerfield, select the VAT register date.

  10. In the Sales tax exchange ratefield, enter the exchange rate.

  11. Click Post Invoiceto open the Invoiceform.

  12. Click OKto post the project invoice.

    Note Note

    Any discrepancy between the exchange rate used for accounting and the exchange rate used for VAT calculation is automatically posted to the selected account.

See Also