Transactions & VAT

6 questions

What is the difference between an automatic and a manual transaction?

Automatic transactions are created by Ledgerly when you mark an invoice as paid — they are read-only and faithfully reflect the linked invoice. Manual transactions are entered by you for expenses and income outside of invoices (rent, equipment, subscriptions...).

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How does the VAT listing work?

The listing groups all your transactions for the selected quarter and breaks them down according to Belgian VAT grids. You can export it as Intervat XML for your return on eservices.minfin.fgov.be, or as Excel for your accountant.

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How do I export transactions for my accountant?

From the VAT listing page, two exports are available. The Excel file has three sheets: income, expenses and a VAT summary by rate. The Intervat XML export follows the official SPF Finances schema (VATConsignment) and can be imported directly into Intervat. If you have sales to EU customers, a third export produces the EC Sales List.

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What is the EC Sales List and how do I produce it?

It lists, customer by customer, your sales to businesses in another EU country: services (code S, grid 44) and supplies of goods (code L, grid 46), with credit notes deducted (grid 48). It is filed on Intervat in addition to the VAT return, for the same quarter. On the VAT listing page, the "Export EC Sales List" button appears as soon as the quarter contains such sales and produces the official XML file. Each customer needs a VAT number from their country with its prefix (e.g. FR12345678901, DE123456789). Otherwise the export is refused and Ledgerly shows you which invoices to fix. A credit note is reported in the quarter in which you issue it, as a deduction for that customer. With no EU sales in the quarter, there is no listing to file, not even a nil listing.

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I am under the VAT franchise scheme, do I need to file the EC Sales List?

Yes. The franchise scheme exempts you from the periodic VAT return, but not from the EC Sales List for your services or supplies to EU customers. You can file it via Intervat or on paper. From your first EU sale, Ledgerly gives you access to the VAT listing page again so you can export it. Note also: if your supplies of goods to the EU exceed €50,000 in a quarter, the listing becomes monthly, talk to your accountant.

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How does the automatic VAT check work?

With the Pro and Expert plans, Ledgerly checks the current and previous quarter every week: VAT of a Peppol invoice that differs from its XML, received credit note recorded as positive, EU supplier without reverse charge, foreign VAT counted as deductible, duplicate expense, sale with VAT during the exemption scheme, quarter not filed as the 20th approaches, and more. Items appear under « To do » on the dashboard and at the top of the VAT listing page, with a link to the document. Nothing is corrected automatically. A summary email is sent on Monday when there is something new; you can turn it off in your profile, Notifications tab, or with the link in the email. The « Check again now » button runs the check again after a correction. These items are indicative: confirm them with your accountant.

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