So Zoho has added the capability of recording Import Vat against an overseas bill. However, this import VAT has the same monthly exchange rate as the bill. This is incorrect.

If a bill is received in a different month to the receipt of goods which is very likely - eg proforma - then the date and exchange rate will be different.

VAT is paid and calculated in the month of receipt. Often, the VAT bill be received from the transport company on the date of cross border transaction.

The import VAT should be calculated in the month of receipt. There should be the option to change the exchange rate when adding Import VAT. You can change the date of the import VAT but it still uses the bill date for the rate.

This is another example where Zoho does not work correctly - another example is not being able to bundle items that are in stock until they are billed; but don't get me started!