Legal Monetary Totals
Legal monetary totals are those that are submitted to the Tax Authority.
Use the LegalMonetaryTotal element to model payments that are submitted as the legal record to the Tax Authority. These can be used in conjunctions with the following:
- Line Extensions: Line extensions are specified in the InvoiceLine element. See Invoice Lines.
- Tax Amounts
- Allowances)
- Charges
- Prepaid Payments
- Payable Rounding Amounts
- Payable Amounts
These can be used in conjunction with these other elements to specify the amounts that are used.
These fields are also checked to see if they meet the requirements for that country. For example, in Germany, the following logic is used:
Monetary Total Payable Amount = Legal Monetary Total Tax Inclusive Amount - Legal Monetary Total Prepaid Amount + Legal Monetary Total Payable Rounding Amount - sum of Prepaid Payment Paid Amount
Restrictions
- You need to ensure that the totals here are correct.
- Only the amounts specified in the
LegalMonetaryTotal
element are submitted to Tax Authorities. If there is a discrepancy between the amounts in theLegalMonetaryTotal
element and the others like AllowanceCharge, the totals in theLegalMonetaryTotal
element are used.
Elements
Element | Description |
---|---|
LegalMonetaryTotal/LineExtensionAmount [@currencyID=] | Sum of all line net amounts in the Invoice |
LegalMonetaryTotal/TaxExclusiveAmount [@currencyID=] | The total amount of the Invoice without VAT |
LegalMonetaryTotal/TaxInclusiveAmount [@currencyID=] | The total amount of the Invoice with VAT |
LegalMonetaryTotal/AllowanceTotalAmount [@currencyID=] | Sum of all allowances on document level in the Invoice. See Allowances . |
LegalMonetaryTotal/ChargeTotalAmount [@currencyID=] | Sum of all allowances on document level in the Invoice. See Charges |
LegalMonetaryTotal/PayableRoundingAmount [@currencyID=] | The amount to be added to the invoice total to round the amount to be paid. Must be rounded to maximum 2 decimals. |
LegalMonetaryTotal/PayableAmount [@currencyID=] | The outstanding amount that is requested to be paid |
Example
<cac:LegalMonetaryTotal>
<cbc:LineExtensionAmount currencyID="EUR">8870</cbc:LineExtensionAmount>
<cbc:TaxExclusiveAmount currencyID="EUR">8870</cbc:TaxExclusiveAmount>
<cbc:TaxInclusiveAmount currencyID="EUR">10555.3</cbc:TaxInclusiveAmount>
<cbc:PayableAmount currencyID="EUR">10555.3</cbc:PayableAmount>
</cac:LegalMonetaryTotal>
Updated 2 months ago