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Create a new VAT rate

Follow these steps to create a new VAT rate:

  1. Click System, VAT, VAT Rates

  2. On the top bar, click New.

  3. Enter data into the following fields:

    • Code: User preference

    • EC Type: European Commission applicable

    • Description: To describe the rate for other users

    • Rate: The vat rate used on this VAT Type

    • VAT Recovery Type:

      • Fully Recoverable

      • Partially Recoverable

      • Non-Recoverable

    • VAT Return: VAT Type specific

  4. Click Save. Once this VAT Type is created it can be applied further in the system to various records, invoices, transactions, and more.

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