If you want to send invoices, it is essential that you provide the correct VAT code. However, there are situations when you need to control your VAT Percentage in your VAT code. With Invoice Office, you can change the existing VAT Percentage or establish a new one.
Navigate to Settings > Finance > VAT codes on your Dashboard.
Here We can edit the vat codes which we wish to change.
Choose a VAT code that you want to change and open it.
A particular vat code is opened up. Here you can also edit these fields.
Type
The type for the vat
Vat Type
Sales or procurement (based on this choice, the value is added to the Sales Tax list on the procurement or sales page. Both are shown in both documents Sales Tax boxes
Account vat to claim
The ledger account on which the sales tax is booked (for Sales Tax and finance reporting purposes)
Account vat to pay
The ledger account on which the sales tax is booked (for Sales Tax and finance reporting purposes)
Preferred
The value is shown in the preferred Sales Tax select boxes (at the top of the list)
Is default
Value is the default one for this Type. Each type can have a default one as selected
Blocked
The Sales Tax is not shown in the list or selectable within the software
You can add the percentage for the Sales Tax in this step. You can configure multiple percentages with a start and end date. The end Date is not mandatory.
If the current date is between the Date Start and End Date, the Tax Percentage is applied for this Vat Code.
Choose the Vat Report section to connect this Vat Code to this section. You can create your own sections in the Vat Report Code section.
To commit your changes, click “Modify”.
Need support?
Make a note in case a select box value is missing or a step is missing for the customer’s country. To contact support@invoiceoffice.com. Then we can improve the screens / add values etc.