VAT & WHT

💡These articles explain VAT and WHT, VAT Types, VAT rate changes and how to reconcile VAT.

Articles#

• VAT and WHT: Describes how Value Added Tax works and is paid over, and how to set up Withholding Tax when taxes are withheld from you or from supplier payments.
• VAT Rate Changes Process Guide: Shows how to apply a VAT rate change: update VAT inclusive and exclusive selling prices, supplier prices and transactions, then verify the VAT percentage.
• VAT Reconciliation: Describes the VAT Reconciliation module: its settings, list view and edit view, including out-of-period and outstanding transactions, Transaction Type and VAT Type summaries.
• VAT Reconciliation Tutorial: Shows how to create, verify and edit a VAT reconciliation, output its transaction list and create historical reconciliations.
• VAT Types Process Guide: Describes who must register for VAT, when to charge and claim VAT and which VAT Types to use for standard, exempt and other supplies.