In this directory, you set up VAT rates you intend to use. Here you select a VAT rate type and a country where a rate is applicable (the object of specifying country details for each VAT rate is to enforce the correct automatic provision of VAT rates for items in sales and purchase after VAT transaction types (cross-border transactions/ domestic transactions) relevant for specific business situations have been established by the system); you specify input and output VAT accounts for accumulating VAT amounts charged on purchase or sales of goods/services; amend VAT rates.
VAT is charged at a specific rate on goods and services you purchase if these items are liable to VAT. Thus, VAT rates are applicable to all purchase documents. If you are registered as a VAT-payer, you also calculate and charge VAT on your own sales. In this case, VAT must be specified in sales documents. Evidently, VAT documents such as VAT accrual and Customs Import Declaration also make use of VAT rates.
To go to the VAT Rate
- On the Codejig ERP Main menu, click the VAT tab.
- Under the VAT tab, click VAT Rate.
VAT Rate: General Area
VAT Rate: Accounting Section
VAT Rate: Tax Rate History Section
Manage VAT Rate Changes