According to Hungarian tax law, tax-related financial documents, such as invoices and credit memos, must contain the amount information in local currency.

These tax documents include:

  • Invoices

  • Free text invoices

  • Project invoices

  • Credit notes

  • Corrective invoices

Companies are not required to calculate VAT amounts based on the National Bank currency rates, but can select their own exchange rates for VAT calculation. The exchange rates used for VAT calculation can be different from the exchange rates used for general accounting.

  1. Click Accounts receivable> Common Forms> Free Text Invoice Detailsto open the Free text invoiceform.

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

    Note Note

    For more information, see "Free text invoice (form)" and "Create a free text invoice (form)" in the Application and Business Processes Help.


  3. Click Setup> Sales taxto open the Temporary sales tax transactionsform.

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

  5. In the Sales tax exchange ratefield, modify the sales tax exchange rate.

    Note Note

    The sales tax exchange rate field is automatically filled with the default bank group sales exchange rate.


  6. Press CTRL+S and close the Temporary sales tax transactionsform.

  7. Click Posting> Free text invoiceto open the Post free text invoiceform.

  8. Click OKto post the invoice.

    Note Note

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


See Also