Advance Payments Localization for Czech (Extension)
The Advance Payments extension is used in Business Central to create invoices and make payments before goods or services are delivered. The Advance Payments solution helps companies meet regulatory requirements for registration and posting Advanced Payments (Prepayments) include VAT requirements in the Czech Republic.
The Advance Payments functionality allows you to receive Advance Invoices from suppliers, issue Advance Invoices to customers, make Advance Payments including payments subject to VAT and drawdown Advance Payments on receipts. It also provides tax documents required by legislation, outputs for financial statements and VAT reports.
The module includes:
- Sales and Purchase Advance Invoices
- Advance Payments received and issued
- Tax Documents and Tax Credit Notes for Advance Payments received or issued
Main functions of the module:
- Creation of Sales or Purchase Advance Invoices according to the settings of Advance Payment Templates
- Create advances from Sales Orders based on a percentage or amount entered
- Proposing advances into a Payment Order and, on the other side, payment of advances by the bank
- Connection to the Cash Desk module for the possibility of paying advances by cash
- Issue and print Advance Tax Documents for Advance Payments automatically or manually
- Managing the use of paid advances by the final invoice
- The ability to close unused advances including a tax settlement
- Working with foreign currency, exchange rate differences between Advance Payment and Invoice
- Possibility to unassign payment to Advance Invoice or additional linking
- Option to unlink final invoice to Advance Payment or additional linking
- Support for Responsibility Center for Advance Documents to display only documents relevant to a specific user
- Reports for recapitulation of payments and drawdown of advances, reports for recapitulation of VAT on advances