New Functionality In Microsoft Dynamics 365 Business Central 2024 Wave 2: Advance Letters With Reverse Charge – Czechia

This post is part of the New Functionality In Microsoft Dynamics 365 Business Central 2024 Wave 2 series in which I am taking a look at the new functionality introduced in Microsoft Dynamics 365 Business Central 2024 Wave 2.

The 7th of the new functionality in the Country and regional section is advance letters with reverse charge – Czechia.

By eliminating the need to automatically post advance tax documents for reverse charge payments, businesses can streamline their processes, reduce administrative overhead, and enhance operational efficiency.

Enabled for: Users, automatically
Public Preview: –
General Availability: Oct 2024

Feature Details

The new functionality allows you to post advances in accordance with the Czech VAT Act and not create tax documents for payments of advances or parts thereof under the reverse charge regime. This function can be set up in the Advance Letter Templates.

For advances with both normal VAT and reverse charge transactions, tax documents for payments will be posted only for the parts corresponding to normal transactions. Thus, only the parts of the document with normal transactions will be included in the VAT statement and the VAT Control report. The parts of the advances corresponding to the reverse charge will be posted to the final invoices in the standard way, that is, they will reduce the invoice balance but not the VAT value of the transaction.