VAT codes

Under this tab you add or modify VAT codes. The VAT code table may differ depending on in which country the system is run. VAT codes are for example used in the following places in the system:

On invoices/order rows to determines the row's VAT rate, VAT posting, and VAT information text (the latter alternative is only available during sales).
On accounts in the chart of accounts to determine how sales/purchase against the current account should be presented in the VAT report. The VAT code on the account also determines which VAT code should be used by default on manual posting rows entered in the accounting. The latter only applies if the system setting below has been activated.
On posting rows on vouchers, posting rows on supplier invoices, posting rows on customer invoices, etc.

Please note! VAT codes on posting rows are only of significance if you have selected the option VAT code in general ledger transactions for the system setting Basis for VAT report is loaded from. The system's VAT report will then load the basis for the VAT report from each accounting transaction, via the VAT code saved there. Otherwise, only the VAT code in the chart of accounts will affect the VAT report, that is, the balance on the accounts linked to the current VAT code.

Tax code

Here you enter a tax code that can contain a maximum of 20 characters. This field is alphanumeric. The code you enter here is shown on the VAT row in the VAT report.

VAT

Here you enter the VAT rate for the VAT code. The default value is 0.00 %. If the VAT code refers to Reversed liability for payment, the VAT rate should always be 0.00 %.

Reversed liability for payment

This setting only applies to purchase. Check the box if reversed liability for payment should apply. If the VAT code should be used during purchase (for example purchase from EU country), the estimated input VAT and output VAT will be posted automatically.

Reversed liability for payment %

This can be entered if reversed liability for payment has been activated on the VAT code. In this field you enter the VAT percent used to post estimated input and output VAT. This VAT posting takes place in connection with the supplier invoice registration.

Output VAT

Here you select the account that should apply to the output VAT posted on outgoing invoices containing VAT. If you have checked the box Reversed liability for payment, you enter the account used for output VAT during reversed liability for payment.

Input VAT

Here you select the account that should apply to the input VAT that is posted on incoming invoices containing VAT. If you have checked the box Reversed liability for payment, you enter the account used for input VAT during reversed liability for payment.

VAT information – Invoice

Here you enter VAT information for VAT codes with a VAT rate set to 0%. On the customer invoice you will see the VAT information as an information text explaining why the invoice is exempt from VAT.

VAT report link – VAT row (purchase)

The VAT report in the accounting identifies the VAT codes in order to decide where in the report it should be shown. If the current VAT code is used during purchase where the VAT basis for the acquisition should be reported in the VAT report, you enter on which VAT row in the report it should be reported. The VAT rows are defined in the Create VAT report procedure.

Purchase links

Purchase links is an extended setting to the column VAT report link – VAT row (purchase). Here you enter how the purchase/sales should be reported in each respective country's VAT report. There is support to handle multiple parallel VAT reports in the system (one VAT report per country). Under the button, you enter on which row in the VAT report the purchase should be shown. This is done for each respective country's VAT report. Normally, you only enter the VAT row for the VAT report that is set as default in the Create VAT report procedure.

VAT row – Input VAT

The VAT report in the accounting identifies the VAT codes in order to decide where in the report it should be shown. If the current VAT code is used during purchase where the input VAT should be reported in the VAT report, you enter on which VAT row in the report it should be shown. The VAT rows are defined in the Create VAT report procedure.

Links – Input VAT

Links – Input VAT is an extended setting to the column VAT row – Input VAT. Here you enter how the input VAT should be reported in each respective country's VAT report. There is support to handle multiple parallel VAT reports in the system (one VAT report per country). Under the button, you enter on which row in the VAT report the VAT should be shown. This is done for each respective country's VAT report. Normally, you only enter the VAT row for the VAT report that is set as default in the Create VAT report procedure.

VAT report link – VAT row (sales)

The VAT report in the accounting identifies the VAT codes in order to decide where in the report it should be shown. If the current VAT code is used during sales where the VAT basis for the sales should be reported in the VAT report, you enter on which VAT row in the report it should be shown. The VAT rows are defined in the Create VAT report procedure.

One and the same VAT code can be used during both purchase and sales. This means that the code can be linked to both sales and acquisition in the VAT declaration. For example, a VAT code referring to EU trading is reported both as sales to EU country and purchase from EU country depending on if the account on which it is recorded has VAT type Purchase account or Sales account.

Sales links

Sales links is an extended setting to the column VAT report link – VAT row (sales). Here you enter how the sales/purchase should be reported in each respective country's VAT report. There is support to handle multiple parallel VAT reports in the system (one VAT report per country). Under the button, you enter on which row in the VAT report the purchase should be shown. This is done for each respective country's VAT report. Normally, you only enter the VAT row for the VAT report that is set as default in the Create VAT report procedure.

VAT row – Output VAT

The VAT report in the accounting identifies the VAT codes in order to decide where in the report it should be shown. If the current VAT code is used during sales where the output VAT should be reported in the VAT report, you enter on which VAT row in the report it should be shown. The VAT rows are defined in the Create VAT report procedure.

Links – Output VAT

Links – Output VAT is an extended setting to the column VAT row – Output VAT. Here you enter how the output VAT should be reported in each respective country's VAT report. There is support to handle multiple parallel VAT reports in the system (one VAT report per country). Under the button, you enter on which row in the VAT report the VAT should be shown. This is done for each respective country's VAT report. Normally, you only enter the VAT row for the VAT report that is set as default in the Create VAT report procedure.

SST02 – B1

These alternatives determine in which column (8, 9, or 10) this VAT code should be presented under the SST02 – B1 tab in the Print VAT report procedure.

8) Value of taxable goods sold – (Column 8)

9) Value of goods for own use/disposal – (Column 9)

10) Value of taxable service – (Column 10)

It is not mandatory to select an alternative.

ISO code

This is configured automatically, but it can be changed if needed. ISO codes are used for E-invoices.

Log

Next to VAT codes that have been modified you see this button . When clicking this button, you see who changed the VAT code, date and time of the change, and which changes have been made.

Active

Here you determine if the VAT code is active or not.

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