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    • What are the settings for purchasing from the EU and third countries?
    For purchases from the EU or third countries. From 2023-09-01, imputed VAT entries are recorded in the general register; it is mandatory to fill in the specified parameters for smooth operation starting from September 1st. Create a new correspondence account in the chart of accounts:General ledger → Chart of accountsCreate new correspondence accounts for registering imputed VAT. We recommend creating separate correspondence accounts:for purchased goods;for purchased services (non-EU goods);one common correspondence account for imputed VAT deduction (for both goods and services);Filling in the parameters:Settings → Settings → AccountingAssign VAT classification to the VAT rate.Registers → Warehouse → VAT ratesPay attention to:The "Main" attribute assigned to the VAT rate. If there is more than one VAT rate with this attribute, the data may be inaccurate when generating the FR0600 declaration.The date specified in the "Date from" field for the VAT rate with the "Main" attribute.Imputed VAT is calculated according to the settings present at the declaration generation date: the numerical value is taken from the VAT rate with the "Main" attribute that was valid at the time of generation.Recording imputed VAT in the general register when registering How to register purchase invoices when purchasing goods from the EU? (FR0600).Warehouse → PurchasesIn the purchase positions, in the "VAT register attribute" column, select one of the following attributes:EU goods.EU services, non-EU goods.After selecting this data, the system automatically fills in the required fields of the FR0600 form.Save the purchase entry.Check the imputed VAT recording in the double-entry:Check whether the client card contains the necessary detailsClients → "Company"In the client card, check whether the client's "VAT code" and "Foreigner" (Lithuania; EU member or Foreign) are specified. Note. Imputed VAT correspondence accounts do not need to be linked to declaration articles.Changes regarding the automatic registration of imputed VAT only apply from 2023-09-01. If an entry dated before 2023-09-01 is adjusted, the imputed VAT recording will not be applied.In purchase positions, a zero (0.00) VAT rate must be selected so that the VAT amount is not accrued and recorded against the debt to the supplier.The instruction provides example correspondence accounts from the chart of accounts; to ensure data accuracy, we recommend using correspondence accounts according to your company's approved chart of accounts and accounting policy.
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    Accounting Software

    What are the settings for purchasing from the EU and third countries?

    For purchases from the EU or third countries.

    From 2023-09-01, imputed VAT entries are recorded in the general register; it is mandatory to fill in the specified parameters for smooth operation starting from September 1st.

    1. Create a new correspondence account in the chart of accounts:
    2. General ledger → Chart of accounts
    3. Create new correspondence accounts for registering imputed VAT. We recommend creating separate correspondence accounts:
      • for purchased goods;
      • for purchased services (non-EU goods);

      • one common correspondence account for imputed VAT deduction (for both goods and services);

        New correspondence accounts for imputed VAT registration

    4. Filling in the parameters:

    5. Settings → Settings → Accounting

      Imputed VAT parameter settings

    6. Assign VAT classification to the VAT rate.
    7. Registers → Warehouse → VAT rates
    8. Pay attention to:
      • The "Main" attribute assigned to the VAT rate. If there is more than one VAT rate with this attribute, the data may be inaccurate when generating the FR0600 declaration.
      • The date specified in the "Date from" field for the VAT rate with the "Main" attribute.

    9. Imputed VAT is calculated according to the settings present at the declaration generation date: the numerical value is taken from the VAT rate with the "Main" attribute that was valid at the time of generation.

      Main VAT rate settings

    10. Recording imputed VAT in the general register when registering How to register purchase invoices when purchasing goods from the EU? (FR0600).
    11. Warehouse → Purchases
    12. In the purchase positions, in the "VAT register attribute" column, select one of the following attributes:
      • EU goods.
      • EU services, non-EU goods.

    13. After selecting this data, the system automatically fills in the required fields of the FR0600 form.

      Purchase positions with EU goods and services attributes

    14. Save the purchase entry.

    15. Check the imputed VAT recording in the double-entry:

      Imputed VAT recording in double-entry

    16. Check whether the client card contains the necessary details

    17. Clients → "Company"
      In the client card, check whether the client's "VAT code" and "Foreigner" (Lithuania; EU member or Foreign) are specified.

      Checking client card data

    Note.

    • Imputed VAT correspondence accounts do not need to be linked to declaration articles.
    • Changes regarding the automatic registration of imputed VAT only apply from 2023-09-01. If an entry dated before 2023-09-01 is adjusted, the imputed VAT recording will not be applied.
    • In purchase positions, a zero (0.00) VAT rate must be selected so that the VAT amount is not accrued and recorded against the debt to the supplier.
    • The instruction provides example correspondence accounts from the chart of accounts; to ensure data accuracy, we recommend using correspondence accounts according to your company's approved chart of accounts and accounting policy.