Why Use This Procedure?
The VAT Codes procedure is used to register or update different VAT codes, which are used for VAT charges. These VAT codes are linked to customers and suppliers.
You must use at least four VAT codes but it is possible to register up to nine VAT codes. The number of VAT codes that shall be managed is decided with the setting Number of VAT codes that will be managed in the system, under Economics on the System tab in the Settings procedure.
The VAT codes 1-3, and in occurring cases also 5-9, are linked to the VAT accounts for input and output VAT on customers and suppliers. The link to standard accounts for the VAT codes is updated in the Chart of Accounts / Standard Accounts procedure in the Global Settings procedure. The VAT code 4 is reserved for amounts that are exempt from VAT (0%). This percentage cannot be changed.
Window Functions
Read more about the Window functions under Window Functions in the MONITOR Basics guide.