Acubiz can offer VAT codes for handling VAT in connection with accounting. Acubiz does not perform VAT calculations, as this is transferred to the company's accounting system (ERP) based on the VAT code that Acubiz returns to accounting through the cost export. This is a setup that the company must do itself in Acubiz.

Creating VAT codes in Acubiz:

The VAT codes represent a list of VAT codes used in the company's accounting system. It is therefore important that the list created in Acubiz is identical to the actual VAT codes used in the accounting.

Go to ADMIN => COMPANY SETTINGS => VAT CODES SETUP

Here is a list of VAT codes that have already been entered in Acubiz. This list must be updated with the correct VAT codes. A line in the field is equal to one VAT code, example:

The above are just examples and may vary from what they really are in your business.

When the list is updated with the correct VAT codes, press SAVE.

VAT codes in E-conomic

If your company uses e-conomic as an accounting system, you can benefit from creating the VAT code "LOOKUP", as the only code in Acubiz. This way e-conomic automatically takes the VAT-setup from the account directly in e-conomic.

Entering VAT codes on accounts

Once the VAT codes have been created correctly, these must now be updated on the individual accounts in Acubiz. Therefore go to the account plan via ADMIN => ACCOUNTS and open each account/cost type and select the VAT code via the following fields:

In each account, 3 VAT codes can be set up, which are determined on the basis of the country the individual transaction originate from.

• DK = This refers to the system country associated with the solution. It designates the VAT code applicable when the transaction originates from the same country as the system country of the Acubiz solution. Please note that the system country may differ from the country designated for the solution.
  • For e-conomic, please select LOOKUP here.
• EU = This VAT code is applicable for transactions conducted within the European Union.
• Other = This VAT code applies to all countries that are not classified as DK (System Country) or EU.

In each field you can choose between the VAT codes set up in the previous section.