Use this module to define and control your VAT process by handling VAT registration, setting country-specific VAT rates your company must adhere to, managing accrual of VAT on services purchased abroad as well as creating and submitting VAT Returns. The module also enables you to deal with import customs clearance procedures. VAT details provided here affect your company’s accounting transactions and are reflected in the VAT Balance report.
Codejig ERP supports different VAT charging scenarios:
- Domestic VAT
- VAT treatment of cross-border transactions (in compliance with VAT Cross Border Rulings)
- Selling to businesses/selling to consumers
- Provision for both a VAT-payer and not a VAT-payer
The module comprises the following documents and directories:
- VAT return - a document in which you summarize your company’s operations for a certain period to inform the VAT office of how much VAT you have to pay or how much VAT you should be reimbursed for that period.
- VAT on intra-Community purchases - this document allows you to calculate your VAT for services received from another EU country or from outside the EU at the applicable rate in your country (according to the system of self-assessment) based on the received invoice date.
- VAT on import - a document provided to the customs authorities when you import goods from outside the EU to place the goods under customs clearance procedures.
- VAT number - this document signifies that your company is registered as a VAT-payer and activates the VAT-related functionality in Codejig ERP.
- VAT rate - use this directory to add applicable country-specific VAT rates.
- VAT office - this directory allows you to add and define taxation authorities that deal with your tax affairs.
Documents and records created in this module greatly affect the way your sales and banking operations are processed by the system. So, to successfully use the VAT-related functionality in the system, it is necessary to define your company’s basic VAT settings:
- Add tax offices that deal with your tax affairs (VAT office directory, VAT module or Company directory, CRM module)
- Create a VAT Registration document to enable the VAT-related functionality in the system (VAT number, VAT module)
- Enter VAT rates (VAT rate directory, VAT module)
- Enable or disable the use of VAT in sales documents (My company settings, Settings module)
- Make sales and purchase prices be VAT-inclusive or VAT-exclusive (My company settings, Settings module)
- Specify a country in which your organization is registered (VAT number, VAT module)
- Specify your business partners' VAT numbers (Company directory, CRM module)
- Indicate your business partners' countries of residence in billing addresses (Company directory, CRM module)
To access the VAT module
- On the Codejig ERP Main menu, click VAT.
My Company Settings