New VAT code
Copy VAT codes
Margin scheme VAT codes
New VAT code
VAT codes are set up in the view to establish the necessary VAT codes for the company. Usually VAT codes are used from a model accounting company. In this case, it is necessary to define in the settings (General - Accounting settings) from which company the VAT codes are used. The modification of these common VAT codes is done through the Model Accounting company. Common VAT codes are visible in the Settings - Joint VAT codes view.
Unlike accounts, VAT codes are either used from a sample company or they are all set up in your own company's VAT codes. If common VAT codes have been defined for use, the program will not consider any possible custom VAT codes even if they are visible in the VAT code view in the program.
VAT codes must match those in Purchase Invoices and Sales Invoices. The use of VAT codes is mandatory in Heeros accounting. An exception to this is made for tax-free activities; if a company's operations are tax-free, VAT codes are not considered.
VAT code and name - Enter the VAT code identifier and name (e.g. Purchases domestic 24%). The code may also contain letters.
% field is used to enter the VAT rate as a number, without the percentage sign.
New % - When the VAT percentage changes, you can use the same VAT code. Enter the new VAT percentage in this field (e.g. 25,5).
Start date - When the VAT rate changes, you can use the same VAT code. Enter the date from which the new VAT rate will be used with this VAT code.
Sales VAT - Value added tax calculation records the sales VAT to the specified account here.
Purchases: VAT - Value added tax calculation records the purchase VAT to the provided account.
Right of deduction % - If VAT is only partially deductible, enter in this field the percentage (without the percentage sign) by which VAT is deductible (e.g. 80).
Non-deductible share account - The non-deductible share of value added tax is recorded in the account defined here, if VAT is only partially deductible.
Period tax form code directs the transactions recorded with VAT codes correctly in the periodic value-added tax calculation.
Marginal tax - check the box if the vat code is used for marginal tax. Read more on marginal tax.
Copying VAT Codes
VAT codes can be copied from another company if needed. Alternatively, you can copy an existing VAT code within the same company as a basis for a new VAT code.
Copying VAT code from your own company is done by selecting the code to be copied and clicking the Copy button, then choosing "This database" as the copying option:
Enter the identifier for the VAT code to be created and click Ok. After creating the code, you can edit the VAT code as usual.
Copying VAT codes from another company is done by clicking the Copy button and selecting "Other database" as the copying option:
You can choose whether all VAT codes of the company are replaced with the selected rate's VAT codes or if only the missing codes are added. With Ok, the program will copy the VAT codes from the selected company, either all or only the missing ones.
VAT codes can also be imported into accounting from a csv file, read more here.
Marginal function VAT codes
With marginal VAT function, you can calculate the marginal VAT for the sale of used goods subject to marginal VAT. The function cannot be used in calculating marginal VAT for the tourism industry. For more information on activating the marginal VAT feature, you can read here.
Accounting calculates the profit margin based on the entered transactions, and if there is one, the information also goes to the VAT calculation process on the TYVI file. If there are receivables left from the margin, they will be carried over for use in the following period.
For calculating the marginal tax rate, separate VAT codes are needed for each VAT rate for sales and purchases. VAT codes must be created. Their identifier and name can be freely chosen. If common VAT codes have been selected for the company, a new VAT code must be established for the model company.
For example
The following fields should be taken into account:
Sales VAT: Enter the margin tax receivable account only in the sales VAT code. Leave the field blank in the purchases VAT code.
Purchases: VAT - fill in the margin tax account only in the purchase VAT code field. Leave the field empty in the sales VAT code.
Marginal tax - by selecting the - in use option, the fields below will become visible. Without this selection, not all necessary settings are available for selection and the calculation will not work.
Margin tax adjustment account is entered in the sales VAT code as the sales adjustment account and in the purchase VAT code as the purchase adjustment account.
Marginal tax rate is used to indicate which VAT code applies to the corresponding VAT rate.