By default VAT is not calculated in Acubiz, but it is handled by entering a VAT code on the relevant cost types, after which the financial system makes the final VAT calculation. Some (older) financial systems must have the VAT calculated on a separate line, which is reviewed in this article.

If your Acubiz solution already uses the calculation of VAT on an additional accounting line, this article will explain how this is maintained and changed.

The article covers the following areas

• Setting up VAT accounts and rate
• Setting up VAT calculation on cost type

Setting up VAT accounts and rate

Go to Administrator and select the following:

Note that the point is only visible if your Acubiz solution is configured with the function.

Click on the VAT rate:

and make your corrections to get the correct VAT rate and VAT account:

Press save.

If different VAT rates are to be entered into each account, the setup must be as follows: The VAT rate must be the same, as the percentage is specified on the cost type. See Setting up VAT calculation on cost type below.

Setting up VAT calculation on cost type

When VAT rates and accounts are updated, this must be reflected via the setup of the relevant cost types. The VAT setup section on a cost type:

It is specifically stated here that a VAT calculation (split of VAT) must be made on this cost.

Examples of setup:

• Full VAT (100% of 25%) can be deducted
  
  
  
• Half VAT (50% of 25%) can be deducted
  
  
  
• Quarter VAT (25% of 25%) can be deducted
  

VAT rates may vary depending on country regulations. The above examples are based on DK rates and rules.