UK VAT Dual Currency Invoice is a ready-to-use excel template that allows you to issue a VAT compliant invoice in two different currencies.
A dual currency invoice is prepare when the goods or services are supply from a foreign location or in foreign currency. It is mandatory by law to mention the tax amount in sterling with the applicable exchange rate.
UK VAT Dual Currency Invoice Excel Template
We have created the UK VAT Dual Currency Invoice excel template with predefine formulas. It will help you to issue the invoice with 2 currencies. One is Sterling Pound and another currency of other country whichever is applicable.
Contents of UK VAT Dual Currency Invoice Template
This Invoice template contains 2 worksheets: UK VAT Dual Currency Invoice Template and Customer Database Sheet.
Customer Database Sheet
The customer sheet contains details of customers like company name, address, contact details, and VAT numbers, etc. The user just needs to enter the name only once in the sheet.
The customer sheet is link to the customer details section of the invoice template using data validation and VLOOKUP. Customer information can fetch on the invoice with the help from the dropdown list.
UK VAT Dual Currency Invoice Template
The template consists of 4 sections: Supplier Details, Customer Details, Product Details, and some Other Details
Supplier Details (Your Company Details)
This section has your company name, address, logo, VAT registration number, and Invoice heading.
The customer detail section consists of the Invoice number, date of issue, payment due date, and number of days between the issue date and payment date.
You don’t have to type customer details in this section. It is pre-program using data validation and VLOOKUP function. Just select customer name from the dropdown list and it will automatically fetch all customer details such as an address, VAT number, and contact details.
As this invoice is in two different currencies, insert the currency conversion rate in the cell. In this template, we have taken USD as other currency and thus given the conversion rate. If you have any other currency, mention the currency’s alphabetical code and respective conversion rate.
This section consists of the following columns:
Description of Products
Unit Price (USD)
Unit Price (GBP)
Taxable Value (USD)
Taxable Value (GBP)
Percentage of VAT
VAT Amount (USD)
VAT Amount (GBP)
Line Total (USD)
Line Total (GBP)
Each of above columns calculates the GBP amount base on the conversion rate. Select the VAT percentage from dropdown list.
Invoice Summary contains the totals of each column of product details section in both USD and GBP. Additionally, it consists of discount section. The template will automatically calculate the discount Rate and amount.
Lastly, it consists of Invoice Amount. The amount is calculated using this formula:
Invoice Amount (GBP) = Taxable Value (GBP) + Total VAT Amount (GBP) – Discounts (GBP)
Invoice Amount (USD) = Taxable Value (USD) + Total VAT Amount (USD) – Discounts (USD)
Moreover, it consists of “Amount in words” for both the currencies(GBP and USD). This cell auto-populates using Spell Number Function.
In addition to this, it consists of Terms & Conditions along with the space for company seal and authorized signatories. On the extreme left, it consists of the business greeting.