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VT Transaction+

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Proforma invoices for services

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The VAT on an invoice for services marked Proforma is not due until the invoice is paid. If you select the Proforma option in the Type of sale (for VAT purposes) drop down list in the sales invoice dialogs, VT Transaction+ will not include the VAT in the VAT return until the invoice is matched off against a payment. The VAT on proforma invoices is accounted for by VT Transaction+ in an identical manner to cash accounting invoices. For more information, see the VAT cash accounting topic.