GRV with Importation Split

Creditors/Suppliers > Activity> GRV 

 T ypically, one would only use the importation split function when purchasing from a foreign supplier in the respective foreign currency. 

 Let’s use the below sample data: 

 

 

 

 Foreign Supplier 

 IS Foreign Supplier 

 

 

 Item Purchased 

 Brother LC23 Value Pack at cost price of $30 

 

 

 Quantity Purchased 

 2 

 

 

 Shipping Details 

 

 

 

 Cartage Company 

 DHL Couriers 

 

 

 Non-Vatable cartage/Shipping charges 

 R 200 

 

 

 Custom VAT:

 (100% of which is VAT) 

 R 3000 

 

 

 Standard Vatable cartage/shipping charges 

 R 1800 

 

 

 Capture the GRV as you would normally do 

 

 

 

 Select the Foreign supplier 

 

 

 

 Enter the Date 

 

 

 

 Enter the Description 

 

 

 

 Enter the Reference 

 

 

 

 Enter the exchange Rate applicable 

 in this case 14 

 

 

 

 This is the exchange rate at which the item was secured. Also know as Spot rate in most cases. 

 Ener the Supplier Invoice Number. This is the Invoice number from the supplier of the item. 

 Your screen will now look as follow: 

   

 Proceed to enter the item(s) purchased 

 Click the Add button in the centre of the screen 

 Select the item 

 Enter the quantity 

 Enter the Purchase price (in the foreign currency, in this case $30) 

 Change the VAT type to: Non-VAT 

 Click Save and Close 

 Repeat these item entries for each different item you purchased. 

 Your screen should then look as follows: 

   

   

 Once all the items have been captured, you can proceed to capture the Shipping invoice: 

 On the above screen, click the Importation Split Button 

 Then click the Add Button 

 On this screen you are going to enter the details on the Shipping or Cartage company Invoice 

 Select the shipping Company in the Creditor field 

 Enter the invoice number (invoice number of the shipping company) 

 Enter a Reference 

 Enter the Order number 

 Enter the Description: The description could be the line-item description on the shipping invoice, if you are capturing each line individually. 

 OR you could capture all the Non-Vatable Line Items as a single line and the al the Vatable Lines items as another line 

 And finally, the Custom VAT line item as the 3rd Line 

     

   

   

 Once the transaction is processed 

 Vat report will reflect these entries as shown below 

 Report List> VAT> VAT Report Original 

 GRV VAT Portion 

 

 NON-VAT Portion 

   

   Import Tax Portion 

   

 

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