Basis for accounting of purchases
All purchases you make must have a document that proves the purchase and explains what you have bought. Here there are clear rules for what must appear. However, this can cause problems when you buy something from a seller who does not provide documentation that complies with these rules. It is common that this can happen if you buy something abroad from someone who does not know about the Swedish rules.
Supplier invoice
A supplier’s invoice is a document that arises in connection with the purchase and which specifies a payment requirement from the seller to the buyer. The purpose of the invoice is partly to serve as a basis for the Swedish Tax Agency’s control of the transaction, but also to prove the buyer’s right to deduct the input VAT.
A supplier invoice must contain the following information:
- Seller’s and buyer’s name and address
- Date of issue
- Information about the goods or services
- Amount
- VAT amount
- VAT rate (%)
The invoice must therefore be issued to the company, not to you personally. The company name on the invoice must be correct, make sure to get this corrected if the name is wrong or if you have several companies and the wrong company has been invoiced.
Receipt
A receipt acts as a basis for the fact that a purchase has taken place and that the payment has been completed. It is common for you to receive a receipt if you shop in a store.
A receipt must contain the following information:
- Seller’s name and address
- Date of issue
- Information about the goods or services
- Amount
- VAT amount
- VAT rate (%)
A common misunderstanding is that the so-called account slip, i.e. the printout from the card terminal, is the same as a receipt and thus functions as a document. As this is only a certificate of the transaction itself, it does not function as a basis, but needs to be supplemented or replaced by a cash receipt.
Maximum amount for receipts
Important to know is that if you buy something for over SEK 4,000 and receive a receipt as a basis, it is not possible to deduct the VAT on the purchase. If you buy something for more than SEK 4,000, it is therefore important that you speak directly and request that an invoice be issued to the company instead.
Credit invoice
If you bought something against an invoice that turns out to be wrong, you must always receive a credit invoice that corrects the original invoice. The credit invoice is designed in a similar way to a normal invoice but must contain a reference to the original invoice.
A credit invoice is needed regardless of whether no payment has been made or if the invoice has already been paid and you have received a refund.
Reminder fee
If you have purchased something against an invoice that is not paid on time, you risk receiving a reminder fee. You will then receive a reminder invoice that is similar to the original invoice but a reminder fee is charged. In this case, the reminder invoice is needed to be able to handle the reminder fee correctly.
Underlay is missing
All purchases you make must have documentation that proves the purchase and that must be archived because the Swedish Tax Agency can request these for review. If, for example, you have lost a receipt and it is not possible to get a new one, you can create your own receipt. This must then contain the same information about what was purchased, by whom and VAT.
However, creating documents yourself should be avoided as far as possible, as there is a risk that the Swedish Tax Agency will reject them. But as long as it is about fewer numbers, smaller amounts and it is reasonable that the cost is linked to the business, there are usually no problems.
If documentation is missing
If there is no documentation and you create your own verification, you cannot normally deduct the VAT.